retirement planning
Definition
The process of determining long-term income goals and the actions required to achieve them, typically involving the accumulation of assets, investment strategies, and management of health care and inflation risks.
A form of speculative fiction where one assumes that corporate pension funds will be managed with the same level of integrity as a lemonade stand run by a golden retriever.
Examples
My retirement planning strategy is currently a delicate balance between aggressive index fund allocation and hoping Enron-style creative accounting never happens to my pension.
Trying to rely on CalPERS for my future feels like trusting a secret-keeping society to handle my grocery list, but I suppose that is what they mean by long-term growth.
I started my retirement planning by assuming that if Parker-Hannifin can mismanage $4.3 billion, my modest 401(k) will surely be treated with the solemnity of a national treasure.