a retirement philosophy statement or a retirement policy statement is a road map of your retirement financial journey. It lays down the amount of money you have, how you will meet the cash flow requirement, the growth requirement, maintaining the balance, ..etc. What should it contain:

1. Specific Retirement Details: Crystal ball – trying to guess how long you and your spouse will live. This is some kind of an anticipated number so that you know how long you expect your money to last.
2. Retirement Portfolio Strategy: Simple and to the point. For example, a retiree employing the bucket system might write: “To maintain a portfolio that consists 40% of Index fund, 40% high-quality bonds, 20% in bond fund, and bank fixed deposits. The 20% should NOT be more than 30 months expenses. I will spend from cash bucket and periodically refill using re balancing proceeds. Will not spend more than 85% of annual income till age 74 and will with draw from principal from that age onward. With a 5% withdrawal and a 9% inflation, will need to dip into the capital and finish the capital by age 97 – wife’s age of 94.
3. Document your assets: you should be doing this on a regular basis anyway. Involve a sibling or a child on a regular basis so as to keep them updated.
4. Create a Living Will: How you want to be treated when you are not in charge of your mental faculties
5. Create a Medical Power of attorney.
6. Document your cash flow: what will you do if there is an emergency? who is your back up plan? how much do you want to dip into your growth bucket, and at what age?
7. at what expense level will you refuse medical help? Rs. 5L? Rs. 5 crores?

it is a very long list..let me give you a sample model…