Everyone needs to do proper retirement planning in advance to ensure a secure financial future post-retirement. While you are still earning a regular income, you may feel like retirement is nothing to worry about. However, retirement planning factors in your current status, projections of how much you would require to live comfortably in the future, growing healthcare costs, inflation, and increasing lifespan.
The best time to buy pension plan is when you are young. Starting younger offers many retirement insurance benefits, and you can make the most of the power of compounding interest. Even if you have little to spare, it is best to start early. This does not mean that you should not start at all if you missed that window. Start where you are, with what you have. The second-best time to buy pension plan is now.