Retirement is the longest and most consequential goal most people plan for, because it has to fund decades of expenses without a fresh paycheck arriving each month. The earlier you start, the more the compounding does the work — a SIP started in your late twenties can accumulate to several times more than the same monthly amount started a decade later, purely from time in the market.

A sound retirement plan usually stays growth-oriented (equity-heavy) through the accumulation years while you're still earning, and gradually rebalances into more stable, income-generating instruments as retirement approaches, so the portfolio is positioned to provide steady withdrawals rather than large swings right when you need the money most.

Post-retirement, the challenge shifts from accumulation to distribution: withdrawing in a way that outlasts you, keeps pace with inflation over 20-30 years of retired life, and doesn't force selling into a down market. This usually means holding a mix of growth and income-generating assets even after you stop earning, not moving to cash entirely.