WHAT IS RETIREMENT PLANNING?
Retirement planning is the process of effectively managing your finances in the short and long term to achieve your financial goals both while you’re working and after you’ve retired. The main goal is to create a comprehensive financial roadmap that considers your current financial situation and anticipated future income.
ADD YOUR A WHAT ARE THE BENEFITS OF RETIREMENT PLANNING?
Preparing for Life Stage Events
It helps you prepare for significant life events leading up to retirement, such as your children’s education, home ownership, and healthcare needs.
Financial Security
Through prudent investments and savings during your working years, retirement planning provides financial security not only for yourself but also for your dependents, ensuring that you can support your loved ones even after you retire.
Optimizing Post-Retirement Finances
It guides you in making the most efficient use of your hard- earned money during retirement, ensuring that you can comfortably cover your expenses and enjoy your post-working life.
Contingency Planning
Retirement planning also accounts for unexpected events and emergencies, offering a financial safety net to cope with uncertainties that may arise.