We all know that 20 years ago, the price of the petrol was close to around 40 INR a litre and it peaked to almost double before soothing a bit down to the current price of approx 71 INR a litre. Similarly, keeping the inflation in mind, it would be prudent to assume that 1 lakh INR now would value extremely less after 20 years. 
Now just imagine that you are leading a retired life and sitting on a kitty of 1 crore INR. Today, you can buy plenty of luxurious things with such a huge amount. However, keeping the inflation in mind, your 1 crore of INR won’t be I crore. It would be much lesser in terms of value. Shocked? Yes! That is the sad reality of how inflation ruins the present value of money. 
So to lead a healthy lifestyle even after retirement without compromising on anything, you need to understand the urgency of retirement planning. 
In fact, the reality is very grim when it comes to retirement planning. People will invest their hard earned money in insurance policies and say that I have enough policies to take care of my life after retirement. But, sadly, they fail to realize that investing in mutual funds gives you a better return than investing in many traditional or market linked policies. Just as life insurance is necessary, as it secures the family after you are no more, similarly, retirement planning secures your life, after your retirement till you live. Hence retirement planning is necessary and this is where Reliance is urging the younger lot of the nation to start early retirement planning. 
Retirement Planning! WHY???
All this I came to know from one of India’s respected asset management company, Reliance where few bloggers were invited for the meet.
Reliance Capital Asset Management has recently launched India’s first ever retirement product, Reliance Retirement Fund which not only invests in equities but also in fixed income securities and debt market. It is an open ended mutual fund scheme.
Pi courtesy: Aayesha Hakim
The key feature of the product is that it has two schemes, Wealth creation scheme and Income generation scheme. 
Wealth creation scheme is primarily an equity oriented accumulation where 65-100% is invested in equity and equity related instruments and remaining in debt and money market securities.
Income generation scheme is the opposite. It invests 70-95% in debt and money market securities and remaining in equity instruments.
Thus, depending upon your age and risk profile you can choose the scheme.
The key features of the plan are:
1. Unlimited switches between schemes
2. Exit load of 1% on redemption before age 60, subject to lock-in period of 5 years
3. Auto transfer facility to move from accumulation to distribution phase i.e. from wealth creation to income generation.
4. Step up facility, where you can increase your SIP or pay lumpsum at any time apart from SIP.
5. Systematic Withdrawal Plan 
The plan is idea for both youngsters as well as those nearing their retirement. So what are you waiting for? Start planning for your 2nd Innings with Reliance Retirement Fund and have a healthy retirement. 
Also remember, we plan to buy things which will depreciate over time rather than planning for things which will increase your wealth in the future. So, start investing in your retirement now, where you will see a flow of income after your retirement.