Starting a Retirement Plan
- Retirement is a reality that must be planned. The sooner this is done the more effective the plan will be, and the greater the window of opportunity for an increase in savings and returns.
- Retirement planning can start at any point before retiring, but the ideal is to begin planning 10 to 15 years before exiting the work world.
- A longer interval of time means there is a greater possibility of effectively handling unexpected changes such as medical expenses, a big increase in inflation, the loss of a loved one, sharp fluctuations in the market, and natural disasters.