After my post on retirement yesterday, I got a little more interested in the subject, and did a bit of research on how you could plan your retirement. This is the first time I have thought about the subject, and I think age is a large part of that.
To me, the first thing to do when thinking about retirement income planning is to figure out how much you will need, and where you stand today.
I think a very good way to do that is to use a retirement planning calculator. A retirement planning calculator allows you to enter in some numbers about your retirement goals, your current financial condition, expected retirement income as well as expenses, and then shows you when you could retire, based on how things stand today.