Retirement planning is the process of planning and managing your short and long-term finances to help achieve your financial dreams both during your working years and retired life. It involves analysing your financial objectives, current financial position and expected future cash flow to develop a comprehensive retirement roadmap.

Without a judicious retirement plan in place you run the risk of outliving your savings and not being able to maintain the desired lifestyle in your retirement years. You also run the risk of not being able to accumulate enough corpus for your dependants owing to unfortunate and uncertain events like death, disability etc.

Retirement planning helps you determine how much to save today for retirement; how to invest your savings to get the desired returns;how to protect your assets and provide for in case of unfortunate events and how to make judicious use of retirement income post retirement.