Bangalore: For stay at home parents who have devoted their time and life to raising a family, the thought about retirement planning is understandably pushed into the background. You find them switching roles from an educator, nanny, chef and accountant without any pay. Have you ever given a thought to what would happen when you reach retirement age? You obviously can't depend on someone to fund your retirement nor can you have an employer-sponsored retirement plan to help him or her out during the golden years. Your spouse definitely has a retirement plan, and you have some money kept saved from the previous work place. Initially, this might not appear as a problem, since there is Social Security, Medicare and a possible inheritance. But let's take a closer look at it. Depending on Family If you and your spouse are depending on some future inheritance or your kids to fund you during your golden years; then its time to wake up and accept the fact. You are not sure whether they can afford it or are even willing to fund you in future. You can't completely rely on your spouse's retirement money because that might be enough to manage one person's expense and lifestyle. You may have a retirement fund from your last employer, but are you confident that the vehicle is or will continue to provide a reasonable return? Will your assets - like a home - help you figure the quality of your retirement? These questions, and many more depending on your personal situation are crucial in determining the amount and the strategy of your retirement plans. What is your Investment Tolerance? When we refer to investment tolerance, it is the amount of risk you are willing to assume in order to get a return on your investments. The more risk you take, the better your chances are of a greater return. The ones who look for returns with little or no risk are referred to as conservative investors. This investment tolerance is fine for those who are very close to retirement or are already retired. But if you have time on your side, then you could be effected with inflation. For this purpose, mutual funds are a wonderful way to deal with low risk tolerance. Because the risk is spread out into different stocks or corporate bonds. But if you are moderate investors and are willing to take on more risk, place a small percentage into low-return investments. If you are an aggressive investor and are willing to take great risks to receive the highest return, then this investment type is best since retirement is far into the future. The earlier you start and the more consistent you are with saving money, the better off you'll be when you reach your retirement years.