Planning for retirement is essential to ensure financial security later in life. The earlier a person starts saving for retirement, the more time their money has to grow. Employer-sponsored retirement plans like 401(k) and individual retirement accounts (IRA) offer tax advantages and should be maximized when possible. A good retirement plan includes setting clear goals, estimating future expenses, and adjusting savings contributions over time. Investing in a mix of stocks and bonds can help grow retirement funds while managing risk. Regularly reviewing and adjusting the plan ensures a comfortable and stress-free retirement.