Why financial planning is important before retirement.

[CALVINDOL]

Retirement is never the choice of an employee when he or she has clocks the retirement age in the organisation he or she possibly works for, because as long as he has reached the retirement age that was absolutely nothing left for him in the business organisation but rather the one and only solution and choice is to retire. It is possible that many people choose to retire from their job early do you to some circumstances and environmental influences, but whether you choose to retire early or not there is absolutely no individual guaranteed to stay in his or her job forever,because sooner he or she will always retire when the age and time comes. There is literally no best and right time for an individual to retire and as we have already mentioned many people retire very early from their work while others retire late. Hence, what we need to know about our retirement is that we must make plans to still stay financially stable and equipped before our retirement days. An individual who has no financial plans before retiring, is considered to be financially starved during his or her retirement days, with that being said, it is best and advisable to always plan before job retirement.

I do not know for other countries, but in Nigeria the maximum age for retirement is 75 to 80 years. It is possible that during this age an individual may possibly be seeing some signs of old age, such as: loss of strength, slight loss of sight and sense of smell etc. Hence staying financial equip during this times is theoritically necessary and beneficial.