Retirement Planning
Retirement planning involves accumulating a specific amount of money by the time you reach retirement age. It's about creating a plan to live the lifestyle you've always dreamed of during your golden years. Essentially, this means ensuring you have a steady source of income when you retire from your active career.
Why should you plan for retirement?
Planning for retirement is a crucial financial decision if you want to enjoy a stress-free, independent life once your steady income from work stops.
Your current expenses will likely increase due to inflation and rising costs of living. Therefore, your retirement plan should not only focus on saving but also on investing to cover future expenses. It's essential to start planning for retirement as early as possible, even if it seems far off. This way, you can ensure a comfortable and secure future.