Summary of Retirement Planning

In order to have the kind of retirement you desire, it is very important to plan for it. Leaving it to chance just doesn’t work. Planning requires that you identify what your goals are. This doesn’t mean that your goals can’t change, but it does mean that you must start somewhere.

Goals also need to be realistic. It’s not enough to say that when you retire you want to be rich and live in a palace. Is it possible to be rich and live in a palace without having to kiss a magical frog? Can you amass sufficient assets to support your retirement goals given your resources, earnings, and ability to save?

This process requires great introspection and personal assessment. Determine what resources are needed to support your retirement goals and how you will come by them. Finally, you will need to map out a strategy to meet your retirement goals, being flexible to change your goals if your circumstances change. Live for today, but keep your eye on the future.