You might be retiring from work but you are not yet going to retire from spending. That is why saving and planning for retirement must be given priority while we are still capable of earning, and even after retirement. You should set our retirement goal as to be being free from financial worries and to enjoy your retirement years. However, many Australians are not financially ready when their retirement comes. Here are the 4 reasons why retirement financial planning is absolutely necessary: 1. You might live longer than you expect Currently, the retirement age in Australia is 65 years old and based on the study conducted in 2015, the average life expectancy in Australia is 82.45 years. If you are living a healthy lifestyle you are expected to live beyond those years. So what does life expectancy have to do with retirement financial planning? Simple, the longer you live, the more money you will need in order to survive and live comfortable. So, if you will retire at 65, you