Purpose of Retirement Planning

Retirement planning can be started at any age. The earlier start an individual has in planning his/her retirement planning, the better chances there are of an efficient retirement back-up. Planning for retirement helps an individual in the following ways.

• It is the tax favored way of setting aside money during the working years for retirement.
• It reduces taxable income in the years that the individual has contributed.
• It provides an estimate of the income during the retirement years.

Go back to Tutorial