All over the world, people place great emphasis on security and comfort during their retirement period. And the twin issues of security and comfort are what everyone hopes to resolve as soon as an individual starts the latter part of his life as a senior citizen.

Thanks to rapid advances in medicine and science, death rates are decreasing and people are living longer, but not necessarily better. After all, additional funds are necessary to provide resources that are essential to maintain a set standard of lifestyle choices during retirement.

However, not many people are able to plan for their retirement. After all, planning for retirement is quite an intricate subject that requires discipline and fortitude amidst a multitude of other virtues. Not all people are determined or dedicated enough to save adequate amounts of money during their productive earning years. And obviously they are not able to accumulate the necessary funds required to provide them with a steady income during their retirement.

Generally, people are unable to make the right choices regarding their investment portfolio and lose a lot of time before they are actually able to make their funds work for them. Different people regard retirement in different ways. Some can hardly wait to retire while others prefer to avoid the matter altogether.

The only reason behind this difference in attitude lies in the preparation that must be made before commencing that golden age. And hardly any people think about the amount of money they would need during their retirement. In fact, people prefer to pretend that the situation does not even exist. After all, no one likes to make sacrifices when it comes to their spending habits.

Longer retirements means additional expenses. And assets seldom outlast or outlive their owners. The chief hassle lies in curbing expenditure and stretching the accumulated funds for as long as possible. To top it off, inflation stretches the average consumer's buying power to the limit. After all, when prices rise, the money that people have will buy lesser than earlier.

People are also at risk from accidents or illnesses. The long-term care that follows as part of hospitalisation and medical procedures can only add to the average individual's burden.

Retirement must be a time for leisure, with travel, rest and relaxation, achievements and social service if the inclination seems so. And all of these and more can be accomplished only after strict adherence to methodical planning.

Needless to say, it is never too soon to start planning for your retirement. Thankfully the general awareness towards a successful lifestyle during their golden years has increased and public perception towards insurance has also changed for the better.

It goes without saying that after retirement, lifestyles are less attractive than during the working years. Besides inadequate planning, the effects of inflation as well as the burden of living on fixed or semi-fixed incomes only add to the average consumer's woes.

The age when you begin saving for your retirement will make a major difference towards your future. The earlier you start to save, the less effort you will have to put in the long run. Most young people these days are overly occupied with providing for the present to warrant any real plans for the future. But just because life is tough right now does not mean that it is going to get any easier in the future.

An early start is half the race won. Your present situation is an extension of your past but your future prospects are dependent on your thoughts and actions as they happen right now.

So why waste time. Act now