The prospect of retirement is one most individuals eagerly anticipate. Relief from a structured work routine, the opportunity to travel or pursue hobbies and the freedom to spend more time with family and friends are undeniable pleasures.

Enjoyment of your retirement years depends on how well you prepare yourself financially, physically and psychologically.

The retiree population is expanding and living longer. Longer life expectancy means more years to enjoy retirement. It also means you will need to carefully consider how you will pay for those years so that you do not deplete your life savings and become dependent on your family or government welfare programs. Ideally, retirement planning is a process that begins many years before you retire. However, whatever your age, there are steps you can take now to help you assess where you are and what you need to do to achieve financial independence.

This article will guide you through the basics of the retirement planning process. Once you understand the basics, you may want to seek guidance from a financial planning professional. The information on the following pages will help you evaluate your financial resources, establish retirement goals and identify your investment and insurance options.

Topics covered in this section are:

Evaluating Your Financial Resources

Retirement Distributions

Insurance And Essential Documents

Retirement From The Military

Creating A Retirement Budget

Researching Investments

Next: Evaluating Your Financial Resources

Updated Thursday, March 06, 2008

HELPFUL FORMS & LISTS

Sizing Up Your Pension Plan

Projected Retirement Budget Work Sheet