Are you worried about retirement? You're not alone. In this video, I'm going to show you how to plan for retirement and make sure that you have enough money to last. 1. What is retirement planning and why do you need it? Retirement planning is something that a lot of people put off until it's too late. They think that they have plenty of time to worry about it, and before they know it, retirement is just around the corner. However, if you want to enjoy your retirement years without having to worry about money, you need to start planning for retirement now. As you near your retirement, you might have some new dreams. You may want to spend more time with your family and travel the world. You may also want to fulfill your commitments, such as a child's higher education or wedding. Fortunately, retirement planning can help you achieve your dreams and still keep you financially independent. Once you have a plan, you can enjoy the lifestyle you've always wanted and need. 2. How much money will you need to retire comfortably? Do you want to retire comfortably but don't know how much money you need? Don't worry, you're not alone! According to a recent study, over half of Americans don't have a clue when it comes to retirement planning. But don't worry – we're here to help! How much money you need depends on a lot of factors such as your lifestyle, retirement goals, and how long you expect to live. However, most experts agree that you should have at least 70-80% of your current income saved up for retirement. You may already have a decent amount of savings, but the question is how much will you need to live comfortably in retirement? The answer to this question depends on your age and level of living. For example, you may think that you will retire with the same standard of living you enjoyed when you were working. But there are many factors that you must consider. ✨✨✨✨✨✨✨✨ Pandas Finance was created in order to answer all of your questions about finance and provide guidance for those who need it. Our goal is to create videos on a variety of topics such as credit cards, student loans, mortgages, budgeting etc. We also help young people learn about money in order to empower them with this knowledge so they can make smarter decisions as they grow up, whether it be buying their first car, starting their own business, or investing in stocks. We create these videos using a detailed whiteboard animations explainer style. Please like, subscribe and on your notification bell so you do not miss any of our videos. ✨✨✨✨✨✨✨✨ DISCLAIMER: This video is for educational purposes only. The results are not typical. I am not a financial advisor and anything that I say on this YouTube channel should not be taken as financial advice. I am only sharing my biased opinion based on speculation and my personal experience. You should always understand that with investing there is always a risk. Do your own research before making any investment. This video and description contain affiliate links, which means that if you click on any of the links and purchase any of the products, I will receive a commission at no additional cost to you. Any earnings or income statements, or any earnings or income examples, are only estimates of what we think you could earn. There is no assurance you will do as well as stated in any examples. If you rely upon any figures provided, you must accept the entire risk of not doing as well as the information in the video.