– Retirement planning involves creating a corpus to cover unforeseen events and sustain pre-retirement lifestyle for decades
– Savings capabilities have stunted due to high living and borrowing costs, muted wage growth, and ill-informed investments
– The 4% rule by financial adviser Bill Bengen helps determine how much to save for retirement
– Utilizing 401(k), Roth IRAs, and taxable investment accounts can help in retirement planning
– Paying off debt is also considered an investment in the future
– Opening an HSA can help grow money tax-free for medical expenses
– Consulting a fiduciary financial adviser may be necessary for specific scenarios
– Investments are subject to market risks and professional advice is recommended before investing