Retirement planning is a multistep process that evolves over time. To have a comfortable, secure-and fun-retirement, you need to build the financial cushion that will fund it all. Planning for retirement starts with thinking about your retirement goals and how long you have to meet them. Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing risk tolerance, and doing estate planning. Start planning for retirement as soon as you can to take advantage of the power of compounding.