Planning for the future is one of the most important steps in understanding how to save for retirement. Whether you have 30 years until retirement, or you are in retirement now, a financial plan can help you get a better understanding of your retirement picture.
Financial plans allow you to set goals, determine realistic assumptions, and then project the liklihood of meeting those goals. It is a proactive way to plan for your future spending needs.
Choose different retirement dates, inflation rates, saving rates, market returns, and life expectancy to see how those assumptions change the plan output.