Retirement planning, in a financial context, refers to the allocation of finances for retirement. This normally means the setting aside of money or other assets to obtain a steady income at 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. do you have sufficient money to retire; and
• To identify actions to improve readiness-to-retire.

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