Transitioning from your working life to retirement takes vigilant planning. It takes years of planning and investing to have a steady stream of income so you can enjoy your retirement years. Retirement planning is about managing your money so you can make the most of your retirement years. Your retirement plan should balance your needs, wants and the reality of your finances.
WHY YOU NEED TO HAVE A RETIREMENT PLAN
Set goals – A plan helps you set goals for retirement, including the age when you want to stop working and your lifestyle.
Know how much to save – It can help you figure out how much money you need to save to live comfortably in retirement.
Choose what to invest in – A plan can guide your investment choices based on your goals and your risk tolerance.