retirement-planning

Vocabulary Word

Definition

'Retirement planning' is the process of determining your lifestyle choices for your retirement years and making decisions now to ensure that you will be able to meet these goals then. Think of it as preparing for a long trip after your work life.

Examples in Different Contexts

In estate planning, 'retirement-planning' also includes preparing for the distribution of one's assets post-retirement. An estate planner might discuss, 'Incorporating your retirement plan into your estate plan ensures that your assets are distributed according to your wishes.'

Practice Scenarios

Tech

Scenario:

We're a small startup, but we want our employees to feel valued and invested in our growth. We've been brainstorming ways to provide long-term benefits to them.

Response:

Offering company equity as part of retirement planning is an interesting approach. It can keep people involved for a long term.

Finance

Scenario:

We've seen an uptick in the number of clients thinking about their financial future. Our advising services need to be robust and personalized to their needs.

Response:

I agree, intensive and personalized retirement planning must be a part of our financial advisory services.