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Retirement planning is simply the preparation for life after employment ends. This preparation impacts all aspects of your life and not just your finances.

The aspect that doesn’t require money include lifestyle choices like how to spend time in retirement, where to live, when to completely stop working and more. A well-rounded retirement plan should consider all these areas.

However, the approach or emphasis a person puts on retirement planning changes throughout different life stages.

Early career

During this time, the emphasis should be to set aside enough money for retirement. You have the luxury of time to accumulate what you need for retirement and the benefit of compounding interest to ensure that what you set aside accumulates returns over the long-term.


This time, while you’re still setting money aside in your retirement savings account, you should consider ways of increasing your retirement income by setting specific income or asset targets and taking prudent steps to achieve them. Let’s assume that over the course of your career, you ‘ve had pay raises or promotions, this means you have the opportunity to increase what you put into your pension pot.


This is the time you hang your work boots and officially go from accumulating assets to what financial planners call the distribution phase. You’re no longer paying in, instead, your years of savings start to pay out. The good news for those who have managed to accumulate enough retirement income is that they can enjoy a comfortable retirement spent pursuing their hobbies and having fun. The reverse would be the case for those whose retirement income may not be enough.

Final thoughts…

Retirement planning should start long before you retire – in fact, the sooner, the better. You must figure out how much you need to retire comfortably and then work with that magic number in mind as you save ahead for retirement.

Our Retirement Lifestyle Planner enables you to Walk Into Tomorrow, today to plan out your dream retirement. On the easy-to-use portal, you get a holistic view of how your retirement lifestyle would be and how much you’d need at every point in your retirement. This helps you total up the magic number you need to save to get the retirement your desire.

Click here to Walk Into Tomorrow and plan your dream retirement now.

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