Retirement planning, in a financial context, refers to the allocation of finances for retirement. This normally means the setting aside of assets to obtain a steady income in retirement. The goal of retirement planning is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity.
The process of retirement planning aims to:
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.
At Fritz Financial Planning, we will use the same planning process as discussed under Financial Planning. We will also use our trademarked Fun Retirement Program to ensure that you will have a fun and happy retirement.