Retirement planning advice should have little to do with numbers.
A dream could be described as your vision for the future. A goal is generally thought of as a dream with a deadline and a plan of action to help you achieve it. In really simple terms that is what retirement planning is all about.
So for me the really important question is what do you want to do in retirement? What sort of lifestyle do you see for yourself. Once you have that vision, that dream for the future, you can start to think about how much that will cost.
Retirement Planning if you think about it really begins in childhood. We all used to think about what we would do if we lived that lifestyle of the rich and famous. Though many will not go on to be ludicrously rich or famous we do still crave the lifestyle of being able to do what we want and when we want to. That is your early stages of a vision for the future.
Expanding on that is your development of retirement financial planning. I cannot emphasize enough the importance of setting financial goals in conjunction with your retirement planning. If not, then you will find it very difficult to achieve what you want in monetary terms.
Achieving the retirement income you desire will mostly likely only happen if you know what retirement income you desire. Only then will you be able to make plans to achieve it and perhaps more importantly, know when you have achieved it.
Most people I have come across focus too much on money and pensions and get caught up in the details. They forget about what is really important, what the fundamental goal is – having income that can support your lifestyle without you having to work.