Purpose: Investing for retirement play an important role. There are various studies showing the effect of literacy on financial planning towards retirement and its issues. Hence the extensive review of existing literatures on retirement planning and confidence has been undertaken to identify the gap in this research. Approach: The current study is conducted from journal articles, books and websites etc. In order to search the pertinent information many keywords were used. Literatures were then divided into conceptual review, hypothetical relationship and theoretical review. Results/ Findings: Several research works have exposed that financial literacy significantly contribute to retirement planning. The extensive review directed towards low touched area i.e. to determine whether retirement planning has gained the retirement confidence, when it is mediated through financial literacy. Originality/Value: This study will provide policy guidelines to Government, financial policy makers and academician by highlighting the growth and gain retirement confidence in order to generate wealth.