IFM Retirement Planning Approach: Step by Step
Is your retirement going to be big, elaborate and expensive or is it going to be simple, comfortable and relaxed? Each of us must create a financial setting that supports our desired retirement lifestyle.
In the following section we have outlined a number of steps to help you formalize your retirement plan. Some of these steps will involve using facts and figures from your personal financial statements, such as
- bank accounts
- credit card accounts
- investment accounts
- registered retirement accounts
- income tax returns
- pension statements
In addition, you will need to obtain information that will enable you to estimate your retirement expenses – travel, hobbies, etc.