Retirement planning
Allocation of savings or revenue for retirement / From Wikipedia, the free encyclopedia
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Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence.
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The process of retirement planning aims to:[1]
- Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire
- Identify actions to improve readiness-to-retire
- Acquire financial planning knowledge
- Encourage saving practices