Why is retirement planning important? Planning for retirement ensures a secure future and sustains your desired lifestyle. Relying solely on Social Security may not be sufficient, and the desire to stop working eventually arises. The process of retirement planning involves five key steps: determining the right time to start, calculating your required savings, prioritizing your goals, selecting appropriate accounts, and making informed investment choices. Financial advisors often recommend a more aggressive investment approach in your younger years, gradually transitioning to a more conservative strategy as retirement approaches.
