Retirement planning: Why it is crucial for a secure retired life

Retirement planning is crucial for financial stability and independence in old age. It entails deciding on retirement objectives, and calculating how much money is required to reach those goals. Why should an individual have a retirement plan? How to ensure a comfortable lifestyle post-retirement? With a higher life expectancy and rising costs, why it has become essential to plan for a secure retired life? Livemint spoke to Srinivas Balasubramanian, Head of Products, ICICI Prudential Life Insurance on the importance of retirement planning.

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