Financial planning for retirement: How to ensure financial well-being in old age

Planning for retirement plays a critical role in ensuring financial stability and a comfortable life after retirement. In an age where life expectancy continues to increase, it is important to start planning your finances for retirement as early as possible.

One of the first steps in planning for retirement is determining your retirement goals and needs. This includes estimating post-retirement living expenses, medical expenses, travel and other potential expenses. The sooner you start planning your finances for retirement, the easier it will be to achieve your goals.