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RETIRE WITH PRIDE - 3 : Deserve It, Do Not Just Desire About It

    Mr. C.S. Sudheer | Tuesday, August 09,2016, 11:12 AM
 

There is a famous saying “While most are dreaming of success, winners wake up and work hard to achieve it”. Just take a little time out to answer this question, Do you know anyone who is enjoying a happy retired life and got there, simply by desiring it?  Search all you want….you will find no one. The trick to get there is simple….smart planning and a lot of hard work. All you have to do to retire with pride is, plan smart…start early…invest wisely…and pay attention to detail.

Do this and you deserve a happy retirement. Just desiring a happy retirement with a lot of money to live your dreams, will take you nowhere. Want to enjoy a retirement free of tension? All you need to do is give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice / education to ensure that you are not mis-guided while buying any kind of financial products. Time to pay attention to these tips and make sure you deserve a happy retirement, rather than just waste time desiring it.

Don’t just desire happy retirement. Get there

Life is short and time flies by. Why waste precious time desiring a happy retirement, rather than doing something to make sure you actually get to enjoy it? It’s time for a story which tells you, don’t just desire happy retirement. Get there. You visit ATM’s regularly to withdraw money. You would have noticed elderly guards aged 60 and above, sitting on chairs outside these ATM’s. Have you ever wondered whether these guards retire at all? Mohan is 65 years old and works as a guard at an ATM of a bank, in Bengaluru. Mohan is tired and bored of his job. All he has to do is sit from morning to evening, watching rich people withdraw a lot of money. You think Mohan sits on the chair from morning to evening, doing nothing? You’re wrong….Mohan spends his time desiring and dreaming of a happy retired life. He has done that for the last 30 years, right from the day he first signed up as a security guard. It’s sad; he will never be able to enjoy a happy retirement. The fault is his and his alone. Mohan needs to work for as long as he can without counting his age. He has no choice. For Mohan retirement is just a pipe dream.

What do you learn from Mohan’s mistake? Mohan only desires a happy retirement. He has done nothing to deserve it. So what should you do to enjoy a happy retired life? Saving and investing your money on day 1 of your working life, is a good idea. To do this you must spend less than you earn. Keep money aside for an emergency and then save as much as you possibly can for retirement. There’s something more….If you are in the 40’s and not yet started saving and investing for retirement, don’t lose heart. It’s never too late to start. Even if you can save and invest for 20 years, you can enjoy the benefit of compounding. All you need to do is invest your money in a good financial instrument. Then reinvest your returns. Sit back and simply enjoy a happy retired life.

Desire without hard work = Regret

Bill Gates says “If you are born poor it’s not your mistake, But if you die poor it’s your mistake”. The same holds true for retirement; If you do not plan for your retirement and only desire a happy retirement, you will never get it. Find this too difficult to digest? A simple story is all you need.

Nikhil and Pavan both 61 years of age, are neighbors and friends. Both of them retired a year ago, after working for nearly 35 years. Nikhil and Pavan both worked at a garment factory and coincidentally their salaries were almost similar, across their working life. The one difference….Nikhil has a lot of money to enjoy a happy retired life. Pawan can only look on with envy as Nikhil spends money and enjoys himself. He struggles to make ends meet in retirement. You must be wondering why even though Pavan and Nikhil earned similar amounts, Pawan had no money to enjoy a happy retirement? A simple difference…excellent retirement planning meant Nikhil deserved a happy retirement. Pawan spent time merely desiring a happy retirement. Nikhil cut down on his spending and then saved and invested wisely for retirement. Pawan on the other hand enjoyed life, spent all he earned and had no money at retirement.

Is this all that Nikhil did or is there something else that helps him enjoy a happy retirement? Nikhil also invested in equity, which many citizens consider too dangerous. Investing in equity is risky, but also gives higher return. Nikhil knew that investing in equity was risky, but also the rewards were great. Nikhil invested his money for the long term and the returns he got, easily beat inflation. Nikhil was forced to come out of his comfort zone to invest in equity and to his friends, it seemed he was taking unnecessary risks. Studies have shown that if you stay invested in equity with a long time horizon (10 years or more), equity is as safe as any other investment. Nikhil was an investor in equities from his 30’s. He did his research and carefully selected equity mutual funds, to invest his hard earned money. When he withdrew his money from equity a couple of years before retiring, Nikhil was a very rich man. Nikhil also updated his retirement plan once every 5 years to make sure he was on track with his retirement goals.

So what have you learned from this article? Just dreaming and desiring a happy retirement gets you nowhere. You have to do something to achieve this dream. Planning for your retirement at an early age… spending less and saving more….Investing your savings wisely…modifying and taking corrective action when your retirement plan goes wrong…all this puts you on the right track for a happy retirement. You deserve a happy retirement and what more can I say…Just enjoy it.

Mr. C.S. Sudheer

Mr C.S.Sudheer is a management graduate. He started his career with ICICI Prudential Life Insurance and later on worked with Howden India. After his brief stint in Howden India, he moved on and incorporated Suvision Holdings Pvt Ltd which is the sole promoter of IndianMoney.com. He aims to build a nation that is financially literate with investment savvy citizens.

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