This chart shows World's best places to retire in 2016.
Retirement is the point where a person stops employment completely.A person may also semi-retire by reducing work hours.An increasing number of individuals are choosing to put off this point of total retirement, by selecting to exist in the emerging state of Pre-tirement.
Many people choose to retire when they are eligible for private or public pension benefits, although some are forced to retire when physical conditions no longer allow the person to work any longer or as a result of legislation concerning their position.In most countries, the idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries.
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence.
The process of retirement planning aims to:
1. Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire
2. Identify actions to improve readiness-to-retire
3. Acquire financial planning knowledge
4. Encourage saving practices
9 years ago
