Planning is essential for leading a comfortable life in later stages. Financial planners have identified three sources of retirement income: employee pensions, retirement savings and social security which are collectively termed as three- legged stool. With the future of social security benefits becoming less reliable, retirement savings are becoming increasingly vital.
Factors such as uncertain economy, low interest rates, decreasing dollar value and rising inflation have an impact on retirement income. Finding a right investment option and building a good budget plan can come to the rescue. SeniorCitizenJournal has a wonderful article on financial planning for seniors. AARP (American Association of Retired Persons) provides seniors with latest retirement planning news and issues including retirement investing, 401k planning, retirement calculator and tools. Below is a video describing how to save for retirement.