Retirement planning helps you determine how much money you'll need for your desired lifestyle in retirement and creates a plan to accumulate this amount by your retirement date.

Retirement planning has three phases: investment, accumulation, and withdrawal. You can start investing and saving in your 30s to 60s, then enjoy the benefits of your assets as you near retirement, whether as a monthly income or a lump sum. Consider using Traditional/Rollover IRAs and Roth IRAs to maximize your savings.