Retirement Planning is the process of ensuring that there are sufficient financial resources to provide a desired lifestyle during the retirement years of an individual. This process runs through different life stages of an individual. It starts with the commencement of an individual’s working life, when the retirement plan is first put in place. Then the individual goes through his working life accumulating funds which are required to build up a retirement nest. And finally, it is the retirement period itself, during which the individual needs to manage his corpus in such a way that it lasts throughout his retirement years.