Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program and managing assets.
Retirement Planning in India is not an easy job at all. Rising inflation numbers, slowing economy growth, love for Gold and of course too many financial products do not make life easy for any individual planning for retirement.
Even if it seems a long way off, it pays to plan for your retirement as early as possible. Most people end up relying on their children and their own savings for income in retirement. How much you’ll need to save will depend on your own circumstances, but the sooner you start, the more you will have.