Retirement planning is the process of setting aside money and making financial decisions to ensure a comfortable and financially secure retirement.

This typically involves setting retirement goals, estimating future income needs, and creating a plan to save and invest money over time to meet those goals.

Retirement planning may also involve selecting the most appropriate retirement accounts, such as 401(k) plans or individual retirement accounts (IRAs), and making investment decisions that take into account individual risk tolerance and investment objectives.

Effective retirement planning is essential to ensuring financial security in retirement and may involve consulting with financial professionals or using online retirement planning tools to make informed decisions.

By planning for retirement in advance, individuals or families can better manage their finances and enjoy a more comfortable and secure retirement.