Retirement planning is a process that involves determining how much money you need to set aside for retirement. It has the following benefits:
- It yields returns
- It provides a regular source of income
- It enables you to live a stress free life
- It is cost saving.
Retirement planning is the process of determining how much money one will need to support oneself in retirement. There are many benefits of doing this, including: - Higher savings rates - More time for other activities - Reduced stress on finances
Retirement planning can be difficult for many people because it requires taking into account many different variables. However, the benefits of retirement planning are worth it. It ensures that you have enough money to live comfortably in your golden years and avoid any financial hardships. It helps to prepare for financial uncertainties like inflation, market volatility, and longevity risk as well as maximizing your potential for tax-deferred compounding growth.
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