When Retirement Moves Backwards

Today as the sun rose, many start planning one of the most crucial days of the year. It is  Valentines’ Day 2016. Long drives out of the city, movie-lunch-dinner dates, shopping, surprises, getting polished at a salon / home before meeting a beloved one being the most  common line-ups in today’s itinerary. I’m still wondering how important it was for me to stay up for the whole night, doing nothing, but restless about building an empire for the future. To be acidic in speech, by the year 2030 Indian job market could be haywire, the banking industry could be facing grimmer times than today, and an earlier than anticipated retirement might shake hands with the well-to-do-but-slow-movers.

While the Technology domain continues with their ever undying love for Android reporting and extremely unbranded Chinese phone brands, Science arena reports a new large-scale virus every month like the Zika in Brazil, International Leadership working over time with eyes fixed on ISIS, Health industry keeping the internet traffic busy with nutrition and diet advisories, Business talking about recession and monthly performances of themselves, and India gossiping daily on politics and rapes – There’s little news about how the age of career-retirement is moving backwards to meet the traveler sooner than expected.

They have home loans, and most of them have committed to pay an EMI upto the age of 50 for 20-year loans. They have retirement funds, and most of them committed to keep funding it from their salaries till the age of 50 (minimum). Most of all, majority of their dreams yet to be fulfilled. Including most of ours, by design of life.

In India the age of retirement moved backwards to 58 from 60 some years ago. Data released by banking researchers say that majority of Indians WISH to retire at 45 but cannot do so due to financial commitments or low funds. Well, hotter the market – sooner would one have to retire from working courtesy the backdoor entry of freshly pressed academicians ready to start their jobs for unbelievably low salaries. Add to it the woes of a swelling population, evolution of technology (especially Cloud and IoT which could release manpower massively from many sectors). Indeed, the older folks might embrace early retirements and the younger ones won’t be required anymore unless they really hone up their skills and keep their eyes looking upwards in career.

The situation itself calls for breaking the ceiling, and inching upwards to view the floor of the upper room. It calls to understand factors like how to walk on it, how many are there (always lesser than the lower room), how to keep inching upwards and stand up on the new floor. And if capability allows, how soon to break the next ceiling. It calls for all Ferraris to enter the pit-stop for an overhaul or a planned slow down, and let the Maruti Altos pass ahead. Simultaneously, drive an old Mustang while the Ferrari gets honed up. It demands from these Ferraris that they change their engines, functioning since almost a decade now. New engines fitting into an old body is time consuming and requires several rounds of self-testing. This process could take a year or 2, or 5. However, such a pit stop is worth it to avoid the pain of getting bumped off those career crossroads in a premature fashion, courtesy the natural circumstances of the economy & business environment. This report http://www.moneycontrol.com/news/economy/exclusive-just-how-badbank-npa-problem-is_5458301-0.html is a snapshot of various grim possibilities that could happen in any country. If banks dry up, Governments infuse massive funds into them, which leads to reducing / halting social schemes / subsidies, locking up PF or Pensions for N months, possibly increasing interest rates and taxes, reducing interest rates on fixed deposits or whatsoever that is undesired. Such a chain reaction dries up the wallets of common man in no time. Paid jobs alone certainly might not suffice a well-to-do life in 50s. Something extra, something new altogether like startups, reaching into the senior management < 40, or some inheritance (lazy way) are the only available ways to hitch hike onto a wonderful evergreen life.

These days serial entrepreneurs are gathering fame and it’s annoying me. This man Bandu near my house has changed his business 5 times in the past decade. These are Cable TV Agency, a 2 star Hotel, a Gift Shop, a Travel Agency, a Garment Shop, and now something new is in the hoods. He is indeed an aborigine serial entrepreneur, but what matters is the way he changed his business exactly on time. Needless for him to do so courtesy a backup of decent real-estate, he did it to sustain the changing markets and he sustained pretty well. So all said and nothing done, I’m close to 24 hours of sleeplessness and the urge in me is howling right now to start something new from the scratch. And the last time something similar happened and I didn’t blog it; the ideas and enthusiasm died after I woke up from a long sleep. But this time I blogged.

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One Comment Add yours

  1. Renaissance Women says:

    Reblogged this on Ṧᵯ₳ᴙ₺ Ḿẫḡᵢ₵ ῷᴏ᧕ⱻɳ ♥ and commented:

    Livin’ La Vida Loca

    Like

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