Retirement planning is crucial for deciding how you will live once you are old and no longer wish to work. It involves considering several factors, including at what age you hope to retire, how much money you will need to cover living expenses, coupled with the things you plan to do once you have retired, and where your money will come from. Generally speaking, retirement planning refers to planning your finances for the period of life after you stop working. Retirement planning is not one standard plan that fits everybody because each person's situation is unique. The first place to start is saving and investing money through options offered through employment (pension plans, 401(K) plans), and personal investments.
The Retirement Planning self-study module guides learners in navigating various retirement planning options and the associated common mistakes.