All too often, when people think about retirement planning, they’re really thinking about investing. While investing is (often) a really important part of retirement planning, it’s only a piece of the puzzle.
Retirement planning covers pretty much everything – it’s figuring out what you want to accomplish in retirement, and how you’re going to pay for it.
This article walks through some of the areas you should think about when planning for retirement. It goes over a Merrill Lynch and Age Wave survey that focuses on seven “life priorities” you should be paying attention to as you put together your retirement plan.
What this really boils down to is that your life will change in retirement and you need to prepare for it. There’s no way to get it exactly right, but the more time you spend trying to understand what you want in retirement, the better prepared you will be.
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