What is retirement? Retirement is the period of time when a person stops earning money for a living. It refers to the stage in life after one stops working.
Planning for retirement is important. Why is this so?
It is important because of several reasons:
1. The Retirement period has potentially lengthened. Recent surveys done globally have found a major trend. That is that people all over the world are living longer than their ancestors. One of the main reason is that medical and healthcare systems have advanced, enabling people to be cure of otherwise incurable diseases. This and many other reasons reasons in longer lifespans.
2. Mounting cost of living. The cost of living is getting higher for many places. Resources and commodities have become more expensive.
3. You want to enjoy the latter days of your life. You do not want to be working till the end of your physical existence. You want to have a quality life after years of hard work.
These 3 reasons are good enough for us to put some serious considerations towards retirement planning.
Our site features a basic online Retirement Planning Calculator. Click here to use it.