Retirement planning basics

Retirement planning is about building enough wealth to replace your income once you stop working — potentially for 30 years or more.

The levers you control

1. How much you contribute.
2. How early you start — the biggest lever, thanks to compounding.
3. Your investment mix — enough growth to outpace inflation.
4. When you retire and how much you spend.

Rough guideposts

• Aim to save a meaningful, consistent percentage of income; many frameworks suggest 10–15%+ over a career, including any employer match.
• A common rule of thumb estimates you may need a pot of roughly 25× your annual spending to sustain withdrawals — a starting point, not a promise.
• Capture the full employer match first; it's an immediate return few investments can beat.

How the mix shifts

Early on, lean toward equities for growth. As retirement nears, gradually add bonds/cash to reduce swings — a "glide path." See building a portfolio by life stage.

Turning savings into income

In retirement you draw down investments, and may use an annuity to guarantee part of your income.

Key takeaway

Time is the retirement saver's superpower. Start early, contribute steadily, capture employer money, use tax-advantaged accounts, and let compounding do the rest. See your country's guides for the specific accounts.