How to Create a Retirement Budget: A Step-by-Step Guide
Introduction: A retirement plan begins by determining what long-term financial goals you have and the extent of a risk-taker you are, and then putting some plans in motion in order to achieve those goals. This process may begin at any time over your working life, but the sooner you do it, the better. Retirement planning can be identified by the process of indicating your income-generating sources, summing up your expenses, putting a savings plan into effect, and management of assets. The cash flows that you will have in the future will then enable you to judge the feasibility of your retirement income goal.