50 is the new 60

Piggy Bank on beach vacation

Wish you all a very happy 2017! Today standing in 2017 it feels like we celebrated beginning of 2016 just sometime back. Time flies.

By now you all must have taken your new-year resolutions for 2017. We do this every year because we have fresh 365 days ahead of us and we wish to make the most out of them. But have you ever thought what would be your resolutions for 10950 days (30 years almost). Here I am talking about the time when you would finally decide to celebrate the last day of your rigorous working lives to welcome your golden years “The Retirement”.

60 is not the number for retirement anymore

Well you must be thinking what I am talking about because you’re still too young to think about retirement. You’re right my friend, you’ve still got time but just as 2016 passed, this too shall pass without even letting you know.

It’s not that too far. With changing work dynamics and rigorous working hours, it seems like most of us would want to quit our work by the time we turn 50 and live a life that we are missing on today. Yes that’s true!

This is not some fictitious number but a number that has come after interaction with a lot of people and also looking at the changing work dynamics where we see young people forming a considerable part of an organization’s workforce.

Changing Retirement Scenarios

Not just this but the definition of retirement has also undergone change and more and more people have different plans to live these golden years their way rather than just sitting back at home. Some have plans to join a music school while some wish to dedicate their lives for philanthropy while some wish to set up big farms and do farming etc.

Well, the wishlists are endless but what’s not is the money that will keep you going when you would be fulfilling your retirement dreams. The fact is you would still need money for your basic survival during these years.

Many people argue that they would be needing a lot less money to live these years then they need today. But what they forget is that they might not spend on eating out or kids or parties but they would have additional expenses such health upkeep expenses, travel expenses, money to fund their to-do-lists for these golden years etc.

Considering this you would definitely need money every month to live your life. Where this money would come that can provide for your living for next 30 years? Haven’t thought of it yet? Well even I also did not think about all this until someone asked me on my birthday so what are your plans for the golden years. That’s when it struck me that even I have dreams which were there in my heart but never made it to a piece of paper which could have got me started to plan for them.

The only reason that it happens is because they are not foreseeable and are never quantified. Hence at the start of the year, I urge you all to resolve that this year you would start discussing and planning for your golden years as well so that without any worries you can clearly lay down resolutions for 10950 days when the day would arrive.


SLA Financial Solutions is a Leading Advisory firm based out of Jaipur. We are amongst the top 5 Financial Advisory firm with a team of 20 + people. We have been awarded twice by CNBC as best Financial Advisor across North India.