Retirement planning entails ensuring a stable flow of income after retirement. It means putting money away and investing it, particularly for that reason. Your retirement approach will be determined by your long-term objectives, income, and age.
Financial planning, on the other hand, is needed if you want to retire in luxury and dignity. Whatever your dream retirement looks like, whether it’s a relaxing time at home with family and friends or an adventure-filled trip around the world, you’ll need money. This is why retirement planning is necessary for an individual.