A retirement plan is a fund in which you set aside a specific amount of money on a monthly, quarterly, or yearly basis for your retirement years. The calculation of retirement benefits depends on the nature of the plan—whether you will receive a lump sum amount at the end of your retirement or a monthly annuity according to your life expectancy predicted by the actuary. Most retirement plans offer investment options in several secured funds, where the investor will bear the risk of profit or loss.
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