Retirement planning is a difficult task, yet it is one of the most important areas of one’s life. It determines not just whether a person can live a happy, stress-free life after they retire, but also whether or not any dependents will have a secure financial future. Retirement planning is a multi-step process that evolves. The process begins with a serious consideration of retirement goals that an individual is looking to achieve. According to Leesa Fazal, there are certain crucial aspects to consider when planning for retirement. The various types of retirement accounts, investing possibilities, and whether or not to use a financial advisor are all important considerations.

Determine Retirement Expenditures, Leesa Fazal Asserts

By making realistic estimates about post-retirement spending patterns, you can determine the required size of a retirement portfolio. The majority of respondents estimate that their annual spending after retirement will be only 70% to 80% of what it was before. This assumption is usually proven false, especially if the mortgage is not paid off or if unforeseen medical expenses arise.

According to Leesa Fazal Las Vegas retirees may also spend their initial years after retirement splurging on travel or other bucket-list things.

It’s Critical to Think about Taxes

The genuine after-tax return becomes a matter of consideration once people realize the time frame they’re looking at and the expenses they’ll spend over the retirement period, Leesa Fazal notes. This is critical because it determines whether or not the existing investment portfolio will be adequate to cover post-retirement expenses.

Consider the Period

Your current age and expected retirement age are the cornerstones of a good retirement strategy. The longer you have until you retire, the more risk you can take with your portfolio. If you’re young and have more than 30 years until retirement, you should put the majority of your money into high-risk assets such as stocks.

Place an Emphasis on Estate Planning

Another significant part of any retirement plan is estate planning. Needless to say, each element warrants the skills and expertise of seasoned professionals, inclusive of but not limited to accountants and lawyers. Life insurance is also a crucial component of estate planning and retirement planning. These aspects, per Leesa Fazal, can be used to form a well-rounded financial plan.

Leesa Fazal Explains How to Compare Risk Tolerance and Investment Objectives

The retirement investing options you choose must strike a unique balance between risk aversion and delivering a specific amount of return. The two most important questions to consider when it comes to retirement planning address how much risk you are willing to take and how much return you’re expecting.


It’s not easy to plan for retirement. Before people can even begin to act, they must pay close attention and conduct extensive research. Individuals can protect their financial future for the time they retire and also for their next of kin by having several discussions, consultations, and studying necessary resources.