Get start today of your retirement planning, try to imagine the expected retirement life standard and estimate how much should be prepared per month. It's always not easy to plan your future perfectly, but a blueprint of the retirement helps to avoid the difficulties life. Some people ignore the retirement plan and economic pressure as they are still young, but just to remind you that everyone has to be aging, and if you are 40 or 50 year old, please enforce yourself to save a fix amount per month, as retirement life is no longer a long way to go. The best retirement planning is starting as soon as possible as the time value can help you to reduce the installment pressure and your target is easier to reach.
¡@A person save $1000 per month from 25 year old and retire in 65 year old, suppose the interest rate is 6%, he can cumulate near 2 million at age 65 . The same case if start the plan in 40 year old, only 700,000 can be achieve in 65 year old, that's the power of long term saving.

The first consideration of retirement plan is expected living standard, try to imagine what kinds of retirement life do you want to enjoy ? What kinds of accommodation want to live ? What kinds of activity want to join ? How much wealth should leave to kids ? That's some example of retirement goals, after it, you should think about when do you want to retire.
¡@The change of social norm and life philosophy lead people want to retire in early life circle, the earlier of retirement year, the shorter period to prepare of the retirement life, and comparative difficult to reach the financial target. Normally, the retirement age is between 60 to 65 year old, but retirement lifestyle is different. So what even which style you are preferred, the physical, psychology and economical conditions should be consider. As the distance of period to retirement can influence the wealth cumulative, so it¡¦s important to decide the retirement plan in early stage.

Normally, retirement expenditure include: 1) Daily expenditure 2) Medical fee 3) Pocket money
¡@Daily expenditure means daily necessary expense, e.g. transportation fee, food etc. The daily expenditure of retirement life is apprimately 70% of working period because the nonexistence of the business related expenses. This also assumes other expenses such as housing mortgage, educational fee, loan, insurance payment are either paid in full or becoming low and considered not a problem of retirement.
¡@Health care cost for elderly is particularly high. According to a survey, there are 50% elderly got sick or accident per week, and the average medical fee is around 1500 ¡V 2000 per case. It is important not only to maintain a healthy life when young but also save enough for urgent health care use during retirement.
¡@How much pocket money should be prepared for retirement, it is depending on individual needs. Due to the high living standard in modern society, many people spend a lot in travel and entertainment after retirement, even more than before, so it¡¦s important to have a priority set up for your leisure expenditure plan when you retire.

Firstly, it's important to find out the total amount of own assets, e.g. cash and saving in hand, illiquidity and liquidity asset, fund and stock etc. For those will not be used immediately can reserve as the retirement fund. Secondly, the retirement pension available is an important part of the whole planning which includes pension from both public and private sectors. After sum up all the assets and the pension from different sources the result is "available retirement fund". Finally, the 'extra investment amount for retirement' can be calculate by "expected retirement fund" minus "available retirement fund".
¡@It's better to be pessimistic to review your financial status to avoid any unexpected happen in the future.

Retirement objective usually expressed as being able to maintain one's current standard of living during retirement. The most important investment criteria for the fund is stability and value growth potential. The different strategic investment portfolio and tool should be considered in different life cycle stages. For example, young people have 30 years to go till the retirement age and have enough time to prepare the retirement pension, so the investment portfolio can be more aggressive to undertake the possible volatility risk. After marriage, as there are others unavoidable expenditure like mortgage and educational fee to be considered, so the less aggressive investment mix is suggested of the portfolio, such as adding more fixed income securities and other stable investment tools. When the age is closing to the year of retirement, the most important criteria of the investment portfolio and tool is stability, but you may still consider to keep up to 50% of medium risk investment portfolio cause here is still around 20 years to go after retirement.
¡@There are three major considerations for overall retirement fund accumulation : 1) Long term in nature, capital guarantee is more important than gain profit ; 2) potential to overcome inflation ; 3) tax incentives.
¡@Just start your retirement plan now and never to lat !