Retirement planning

Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence.

The process of retirement planning aims to:^[1]

Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire
Identify actions to improve readiness-to-retire
Acquire financial planning knowledge
Encourage saving practices

^ Hershey, Douglas A.; Jacobs-Lawson, Joy M.; McArdle, John J.; Hamagami, Fumiaki (2007). "Psychological Foundations of Financial Planning for Retirement". Journal of Adult Development. 14 (1–2): 26–36. doi:10.1007/s10804-007-9028-1. S2CID 143157387.

[springer-1] Hershey, Douglas A.; Jacobs-Lawson, Joy M.; McArdle, John J.; Hamagami, Fumiaki (2007). "Psychological Foundations of Financial Planning for Retirement". Journal of Adult Development. 14 (1–2): 26–36. doi:10.1007/s10804-007-9028-1. S2CID 143157387.

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