Why Retirement Planning Is Essential
A lot of people do not take retirement seriously
. Since most people lack the foresight to see that far ahead into their future, they think of retirement as nothing more than an inevitable end; something almost akin to death. However, for a few people who have the practical sense and the ambition to see themselves in early retirement, retirement is just the beginning of life. And in order to enjoy this new life, planning is an essential step. In fact, here are two reasons why retirement planning is considered essential for these people.
Retirement planning is a financial investment.
Since retirement puts you and your budget at risk, it directly involves your financial savings. It determines your way of living after you stop working - your expenses, your savings and ultimately, your general cost of living.
For those who understand the seriousness and the importance of this particular aspect of retirement, planning involves having a sound and independent financial solution, perhaps in the form of a pension plan or an annuity plan.
For others, it simply means getting ordinary life insurance. Well, whatever the case is, it involves investing your savings in a plan that will either keep your money safe or allow it to multiply in time. You can either let your money grow or you can spend it all in one go.
Retirement planning determines personal fulfillment.
Retirement does not only concern your financial status, it also involves and risks your personal happiness after retiring from work. This is the reason why people who plan their retirement also consider personal fulfillment, because once you stop working, the space you have for personal needs and accomplishments like hobbies, gifts and even vacations will all be jeopardized.
If you do not take retirement planning seriously, then you might just end up cooped up in your house, with nothing to do but watch TV, eat and then sleep. However, if you're serious about retiring early, you should consider the things that would make you happy after quitting work. Is it travel? Is it golf? Whatever they may be, retirement planning is definitely important.
by: Iman Bahrani
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