Retirement planning is the process of setting goals, determining how much money you will need for retirement, and developing a strategy to achieve those goals. It involves assessing your financial situation, estimating future expenses, and deciding on the best investment options to fund your retirement.
There are several factors that can impact retirement planning, such as the age at which one plans to retire, the lifestyle one wants to maintain in retirement, and the expected lifespan. Other factors that can impact retirement planning include the rate of inflation, the investment returns, and the level of risk tolerance.
