Investopedia

Retirement Planning

Dictionary Says

Definition of 'Retirement Planning'

The process of determining retirement income goals and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, estimating expenses, implementing a savings program and managing assets. Future cash flows are estimated to determine if the retirement income goal will be achieved.
Investopedia Says

Investopedia explains 'Retirement Planning'

In the simplest sense, retirement planning is the planning one does to be prepared for life after paid work ends, not just financially but in all aspects of life. The non-financial aspects include such lifestyle choices as how to spend time in retirement, where to live, when to completely quit working, etc. A holistic approach to retirement planning considers all of these areas.

The emphasis one puts on retirement planning changes throughout different life stages. Early in a person's working life, retirement planning is about setting aside enough money for retirement. During the middle of an individual's career, it might also include setting specific income or asset targets and taking the steps to achieve them. In the few years leading up to retirement, financial assets are more or less determined, and so the emphasis changes to non-financial, lifestyle aspects.

Articles Of Interest

  1. Finding A Retirement-Friendly State

    Which states are tax-effective retirement locales? It depends on the source of your retirement income.
  2. Top Tax Tips For Retirees

    Filing your taxes during retirement can be just as time consuming as when you were employed. We have some tips to help you out.
  3. A Social Security Reality Check

    Recessions and depleted Social Security funds could derail your post-work plans. Find out how to stay on track.
  4. The Millionaire's Retirement Plan

    We show you how to hit the millionaire mark step by step.
  5. 5 Retirement Planning Rules For Recent Graduates

    The future may seem far off, but now is the time to plan for it.
  6. What's The Minimum I Need To Retire?

    Make sure your golden years are golden, not merely a struggle for existence.
  7. Retirement Lessons To Teach Your Children

    If your retirement plan hasn't worked out, at least your children can learn from your mistakes.
  8. Choosing The Right Retirement Destination

    Retire in a place that fits your plans for post-work living.
  9. Journey Through The 6 Stages Of Retirement

    Financial planning is important, but emotional planning is the key to retiree bliss.
  10. When Retirees' Beliefs Hit Financial Reality

    Clients may have a sunny outlook on retirement, even when their savings rates are grim.
comments powered by Disqus
Marketplace
Hot Definitions
  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.
  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.
  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.
  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center