Retirement, no work, lots of leisure time. And it takes lot of money to be able to afford it. That requires retirement financial planning. Many of us either doesn’t want to stop working or can’t afford to do so. Even those who’ve saved a lot for retirement may find that “a lot” won’t be enough. We’re living longer, so our money needs to last for more years than in the past. The average 65-year-old woman will live to 86; for men, it’s 84. One out of 10 people who are 65 today will live to be 95.

The process of retirement planning is relatively straight forward. Ideally, you want to make sure that you have enough income and assets to live the kind of lifestyle that you want. What makes retirement planning more difficult is determining what that lifestyle will look like and then dealing with the many variables that go into the process and the pace with which they change.

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