New Delhi, Aug. 30 -- You may not actively earn during your retirement years, but that does not stop factors such as cost of living, medical inflation, lifestyle inflation, longevity and other uncertainties from draining your finances more than you may have expected or accounted for.

Thus, smart planning for the future - when you are largely reliant on savings rather than active income - demands a careful analysis in order to sustain your corpus through various factors, foreseeable or not.

The first step is to identify your goals and aspirational lifestyle post-retirement. This includes your family situation, health status, possible devaluation of net worth due to inflation and other factors. The next step is to assess your current fina...