It is the phase of life when the individual is no longer working and is about to start the second innings. After working so hard for the families to meet its ends and lead a comfortable life, retirement is what people look for.

Source of Income :-

• Pension
• Income from your investments

The process of determining retirement income goals and the actions and decision necessary to achieve these goals is RETIREMENT PLANNING.

THINK THROUGH

• Do you have adequate savings to fund your retirement?
• Should you consider purchasing an annuity to provide guaranteed income?
• How should one plan retirement income distributions to minimize the taxes?

PROCESS OF RETIREMENT PLANNING :-

• STEP1:-Set Your Retirement Goals
• STEP2:-Assesse Your Current Financial Position
• STEP3:-Identify Retirement Income Sources
• STEP4:-Calculate the GAP
• STEP5:-Invest in Your Retirement Assets
• STEP6:-Manage Your Retirement Income
• STEP7:-Monitoring Your Retirement Assets