Retirement Planning Essay - 753 Words

Most of the people I have met have not planned for their retirement as they say ‘future is unpredictable and we need to live in present’ but the future is the outcome of present, our present will decide our future. When we think of retirement we generally think of old age, a period when you have to give up the job and sit at home doing nothing. Contrary to the fact, most of the retiree lives a very active life. We need to seriously consider out planning towards retirement because once we retiree our income stops coming but our expenses remain as it is and in some cases it rises with the rising inflation. Some people like it. Some people don’t but the fact is that retirement is a reality for every working person. Most young people today†¦show more content†¦Although the compulsory savings in provident fund through both employee and employer contributions should offer some cushion, it may not be enough to support you throughout your retirement. That is why retirement planning is extremely important for everyone. There are many reasons for the working individuals to secure their future emergence of separate families and its attendant insecurity, increasing uncertainties in personal and professional life, the growing trends of seeking early retirement and rising health risks are among few important risks. Besides falling interest rates, also the sustained increase in the cost of living make it a compelling case for individuals to plan their finances to fund their retired life. Planning for retirement is as important as planning your career and marriage. We need to take conscious and careful decisions to prepare for our retirement. Life takes its own course and from the poorest to the wealthiest, every one gets older with time. We get older every day, without realizing. With our coming old age we tend to become more understanding to the facts of life and realize the importance and impact of retirement. The future depends to a great extent on the choices you make today. Right decisions with the help of proper planning, taken at the right time will assure smile and success at the time of retirement. In my words, retirementShow MoreRelatedBenefits Of Retirement Planning For Retirement917 Words   |  4 PagesRetirement planning is essential for the future well-being of retirees. Gaining knowledge and perspective on the process will be beneficial. A lack of preparedness may stem from the overwhelming amount of variables affecting and contributing to retirement planning. The following literature reviews provide awareness on planning for retirement. In an article by Burke Goldman (2015), three strategies are presented to adopt and implement proven features and solutions. First, automatic planRead MoreBenefits Of Retirement Planning For Retirement860 Words   |  4 PagesWhether you are a recent graduate or a 30 year professional, it is never too early to begin planning for retirement. 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