Planning for retirement is a long-term financial goal that requires careful estimation and disciplined execution. Unlike short-term goals, retirement planning involves predicting future expenses, accounting for inflation, and ensuring a steady income after active earning years. Without a structured approach, it can be difficult to determine how much to invest and whether current efforts are sufficient.Understanding Retirement GoalsRetirement planning begins with estimating future financial needs. This includes evaluating current expenses, expected lifestyle, and the number of years one may spend in retirement.Key considerations include:Monthly expenses adjusted for inflationHealthcare and lifestyle costsLength of the retirement periodSince inflation can significantly increase future...