Top 10 Ways to Prepare for Retirement
Retirement Retirement is the state of ceasing to work and taking on a life of leisure. Retirement is the stage of life where individuals are no longer actively engaged in the workforce. Retirement is typically associated with reaching a certain age such as 60 in Pakistan and 65 in other countries. The financial aspects of retirement are saving for retirement and receiving retirement income. Here are the top ten ways to prepare for Retirement 1. Start saving early Starting to save for retirement as early as possible is generally a good idea because it allows your money more time to grow. The earlier you start saving, the more you can take advantage of compound interest, which can help your savings grow faster. Additionally, starting early also allows you more flexibility in terms of investment options and risk tolerance, as you have more time to ride out market fluctuations. It is important to consult with a financial advisor for personalized advice and plan. The earlier you start