Everyone has some planning of how they want to retire. A comfortable retirement requires financial planning which means that you have to start early.

Retirement planning can be made through a bank, a financial counselor, or even by conducting some research on the internet. Many people believe saving a certain amount of money early in life with a bank can turn into thousands of dollars over time as the interest accumulates. This is also true. If this also starts at an early age, you'll have more money than starting at forty or fifty.

If you have a job, offering 401k, enroll. Even if you change the company, you can put the money into another 401k job or into an IRA account. If you stay with the company, they match a part of your contribution, which means free money to you.

When you start saving at an early stage, you can have ample time to make some bold decision that will pay off in the long run. Retiring earlier, if you're lucky, can be the golden years of your life. Spending time with the family, enjoying the vacations you've always cherished, and most importantly, being financially independent are all parts of planned retirement.

Social security may not be that much around by the time the young ones of today are looking to retire. Saving, in the form of a company sponsored 401k, stock market, or good savings account, the primary motto is to save. Let interest multiply and your company match your contributions.

In current economy, several people who planned for retirement aren't prepared to retire anymore. People have lost their 401k due to volatile stock market, companies have eliminated pensions and social security is not visible. Planning for retirement early says that you have the potential to survive in the event when something goes wrong. Where you place your money, that too, determines whether it grows fast or slow and how safe it is in the occasion of a tragedy in the market or otherwise.

Retirement is point of time when someone stops working completely. It may be up with the person if he/she wishes for a semi retires by reducing the amount of work hours.

Germany was the first country to begin the retirement procedure in the year 1889 then followed by rest of the world. In some countries they are not given any retirement benefits which drag them to work until their strength last or till their death. Most of the countries would go for pensions for the employees after retirement either as the state contribution or else as the employee contribution. This is considered to be the national constitution in the western side.

Factors affecting retirement decisions:

Social Security plays a key role in retirement decision as most of them opt to get themselves out of the work in between 62 - 67 as the changes in retirement wouldn’t change the wealth conditions in that period of time by a huge margin. The measuring effect on wealth at the time of retirement would be very difficult as that depends on the individual earnings and savings. A great deal of researches has declared that based on the health conditions also the retirement time may vary as the healthier they are extended their career to the limit time and with poor health will retire earlier.