Meta Analysis of Relevant Factors Towards Achieving Effective Retirement Planning – Review and Relevance

Abstract

Financial Counseling and financial education can broadly be defined as 'making the people aware of financial products, creating a fair understanding for investment opportunities, its returns on investment and risk element involved, in order to make right decision at right time. Financial planning and management are an important aspect of everyone’s life, especially after retirement as the stable and regular monthly income becomes the past and savings and investments come in handy easily without stressing ourselves. This paper aims to understand the study that already exists in this area. The study also aims to understand the various aspects that are to be considered while planning a financially secured retirement. This paper aims to review the nature of financial counseling and its relevance in retirement planning of an individual. The paper also reviews the relation between the various factors related to financial counseling and its contribution towards retirement planning. The study will use the applicable research tools in order to achieve the results from the study while maintaining the required quantum of accuracy. The study also aims to provide suggestions and preventive measures to the individuals which will help them reduce the risk factor post retirement in the near future. This research paper also aims to suggest measures to the individuals for planning their retirement effectively. The paper also aims to create scope for further research in the area concerned. It also desires to throw light on the impact of the adoption of suggested measures for working individuals with a motive to liberalize the overall population in India.