The importance of planning for retirement.

[Moper]

Everyone dreams about life without boss and morning rush. During whole life we are going to achieve such life after getting retired. But to ensure comfortable life and to afford desired life style you need to do financial planning. Have you planned for retirement?

What are your retirement plans? any options? When are you going on retirement?

[evolva]

i am a medical student and will be a doctor soon so i plan to retire at 65 or 70 why so late ??? because my studies will get over by 27 or 28 then i will start my clinic or work in a government hospital

and in medical field its up to us when we want to retire

[Peter]

Three years before my father got the option to shift from one department to another,but he didn't shift himself because the salary package is more in Present job as compare to the new job in which he got the chance to get shifted.
But his present job doesn't includes the pension (according to terms & conditions) but now he realized that he made a mistake,so now He Had Taken a Retirement Plan From LIC & he planned for his RETIREMENT..

[John9]

You have to plan your retirement unless you have a lot of money. When you are retired money only goes out and keeps decreasing. So you have to plan some ways to keep your money enough for your needs. But if you are a millionaire you can just plan for holidays.

[liowkc]

The point of planning for retirement is to start saving early to allow the power of compounding to work wonders to your money. Of course how rich you are or how much you earn is a also a factor but trust me, the most important is still discipline by starting early and having a headstart.

[boredg]

It is a necessary to plan for retirement as since you wont be working you have to save money as your income will be less then what you spend after you stop working unless you are rich

[Oasis]

Yeah. If you are a multi-millionaire you usually don't have to worry about retiring. Unless you plan to buy a few luxury cars and mansions. But if you're from the middle-class or lower you should think about what will happen when you are retired. You will no longer have money constantly coming in and you know you use money everyday. I think opening a small business or even a large one is a good idea.

[Geminiamp]

I have a dream I guess you would say and not a plan I know what I want to do but haven't done anything yet. I know a plan is very important as Social Security doesn't provide enough.

I had a 401K but cashed it out a few years ago to pay off my debts and now that I work for myself I have been thinking about investing in the stock market but it's a little too bumpy right now.....

[Marth]

I agree with you, once you are over 35 you should definitely look to start maxing out that 401k. At younger ages you could be looking into the stock market & mutuals for most of your investing.

[Walker]

It is definitely very important and crucial for one to plan for retirement efficiently.

Here...in India there is hardly any program as social security as offered by government and so everybody is on its own....People of India are generally big money savers and they put considerable amount of their earnings in savings...

Hence it is fairly easy for them to chalk out a good retirement plan.

This plan is a must for American citizens who are very heavy spenders and hence leave very little for the rainy days.....and so they definitely need to plan a lot better for retirement....

Regards,

Walker

[Cermet]

Sadly, I haven't saved a bit for retirement -- and I'm getting up there in age. I think that in general the younger generations of Americans aren't saving for retirement, due to the fact that we don't stay in jobs as long as our parents did -- it therefore becomes harder for us to stash money away -- in general, I don't think retirement is a good thing, I feel you should continue to work until you can no longer work -- I feel that the inactivity physically and mentally is a detriment.