How do you plan for retirement?

Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing accounts and choosing investments. Generally, financial advisors suggest you invest more aggressively when you’re younger, then slowly dial back to a more conservative mix of investments as you approach retirement age.

Should you plan for retirement?

Planning for retirement is a way to help you maintain the same quality of life in the future. You might not want to work forever, or be able to fully rely on Social Security. Retirement planning has five steps: knowing when to start, calculating how much money you'll need, setting priorities, choosing accounts and choosing investments.

What is the retirement planning process?

The retirement-planning process sets retirement income goals and builds out the steps required to get there. These include determining income sources and expected expenses, creating a savings plan utilizing the, and choosing investments. Prepare to adjust your plan to fit changing circumstances.