Retirement: when to plan for it

People tend postpone retirement planning for another day. But it is wise to delve into it and start to plan early for retirement. This not only allows you to see how you will be doing financially, but to make a retirement action plan too.

Closely look at your saving and investment plan. How much will you have when you retire? Considering inflation and your lifestyle, will you have enough to live on; and do what you want to do? A financial adviser can be of great help here.

It is never too early to check on your performance according to the retirement plan; perhaps in the last ten years before retirement, you had envisaged that you will top up your retirement fund. If you have not saved much into your plan, then start to do so. The more you can get into it the better.

Activity planning is another important aspect to consider. You might want to save for the trip of a lifetime in your retirement. It might be a wonderful idea to pay attention to the kind of life you want after retirement; and strive to realize it. Think of the basic everyday activities you can do in your retirement: gardening, sports, art, travel, craft, woodwork and so forth; that can bring a new dimension into your life.