It's never too late! Here's how you can plan your retirement even in 40s

economictimes.indiatimes.com:

Living in the present is great. However, the stress of not having a secure future will give you nightmares. Many people start investing in their 20s or even 30s but one thing they forget to prioritize is planning for retirement. Retirement planning is as important as planning for your marriage, education, and more. If you have hit your 40s and feel like you have missed the train, don't worry! ETMarkets spoke to Chirag Muni, Executive Director at Anand Rathi Wealth Ltd to understand the best way to start your retirement journey in your 40s. Excerpts:

How important is it to plan for retirement?
Chirag Muni: Retirement planning is very crucial in every individual’s life. A lot of decisions need to be taken early for a secured retirement and a steady flow of income even post-retirement. The best way to increase retirement savings is to start early with a few disciplined steps.

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Is planning in the 40s too late?
Chirag Muni: Ideally, one should start planning for retirement by their early 20s or as soon as they start earning. However, it is still possible to start retirement planning in the 40s considering 60 years to be the age of retirement. This will allow you to have 15 to 20 years to plan your portfolio.

What is the first step to retirement planning in 40s?
Chirag Muni:Deciding a tenure for retirement is pivotal to planning retirement as the strategy will differ accordingly. You should choose an age to retire and ascertain the