Thinking that expenses will reduce during Retirement is a MYTH.
To give an example: What were your parent’s monthly household expenses in 1986 and what are their current expenses? Have expenses increased or decreased?
Proper retirement planning is absolutely necessary these days, as the majority of the citizens don’t have defined pension from employers.
If retirement is not planned well, a large % of today’s earning generation could face financial problems during the post-retirement period.
