Why do I need to plan for retirement?

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OLM Desk - 19 August 2015

Why do I need to plan for retirement?

We live in times when nuclear families are a reality, defined benefit pension is no more available and employment is no more permanent. The reality is that income stops when one retires, but that is not the case when expenses need to be factored in to maintain the same standard of living in retirement. These realities only reinforce the need for retirement planning. Add to these facts, the average life span of Indians is on the rise and it is common for one to be living in retirement for a good 30-40 years, making it necessary to treat retirement planning with utmost seriousness.


I have ten years to retire, is it late to start planning for it?
What is an annuity and how different is it from pension?

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