♻️What is Retirement Planning?
Planning for your retirement means making sure you have enough money to meet your expectations when you stop working.
♻️ Why Plan for Retirement?
Retirement plans are designed to provide for your financial future after you retire. A 401(k) is one example of such a plan. It allows you to make regular contributions to a retirement savings account and invest that money in stocks, mutual funds.
♻️ Importance of Retirement
A retirement plan is meant to ensure you can maintain an income level after you stop working.
One such plan some people use is a retirement savings plan, which allows you to put aside money each month that will grow and be available to you even after you.
♻️ Explain the Process of Retirement?
♻️ Explain the Process of Retirement?
A step-by-step guide to planning your retirement
Step 1: Set your retirement date. ...
Step 2: Decide what you would like to do after retirement. ...
Step 3: Find out what expenses would continue after retirement. ...
Step 4: Estimate the cost of your retirement goals. ...
Step 5: Plan for an emergency fund.
Golden Tips : If you are in your Early 20s
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