Retirement planning is not something to postpone. Actually, the day a person starts his or her career, would be a good day to start thinking of retirement and how to plan for it.

Unfortunately, most people start thinking of retirement planning too late in life and this often leads to people taking emotionally-based higher risks. When we are younger,

risk-taking often makes sense; at an older age, taking a very high risk might be an unwise decision, as there may not be enough time to financially recover if the investment turns out to be bad or if the economy is in trouble for an extended period of time.

 

There are many popular retirement plans out there:
 

-Traditional IRA
-Roth IRA

-401K

-Profit Sharing Pension Plans

-Defined Benefit Pension Plans

-Simplified Employee Pension (SEP) IRA Plans

-Annuities
 

Some life insurance policies have internal cash value which may augment your other retirement programs.