Published Paper Details:

Retirement planning is the process of planning and managing short and long-term finances to help achieve financial dreams both during working years and retired life. It entails analysing financial objectives, current financial position and expected future cash flow to develop a comprehensive retirement roadmap. Without a judicious retirement plan in place, we run the risk of outliving our savings and not being able to maintain the desired lifestyle in our retirement years. It helps to determine how much to save today for retirement; how to invest our savings to get the desired returns; how to protect our assets and provide for in case of unfortunate events and how to make judicious use of retirement income post retirement. Creation of wealth is a time-taking process which lasts throughout our lifetime. So the earlier it is started the more number of times money gets multiplied. So it is always prudent to start planning early for retirement.