Considering the rising life expectancy and the need for a larger corpus post-retirement, what are your broad thoughts on this matter?
Firstly, I appreciate Outlook for initiating this 40After40 Retirement Expo series. It is very timely, especially considering the increasing life expectancy. The average life span, once around 50 or 60 [years], has now reached 70 and is projected to rise to 74 by 2030 and 78 by 2040, which is not distant at all, just 16 years away. This underscores the significance of your question. If [retirement is] not planned, people can find themselves in a difficult spot.
We are witnessing rapid societal transformations in India and globally moving from traditional large families to nuclear setups and evolving family dynamics. How does this shifting landscape impact retirement planning strategies?
Because of shifts in technology and change in economic conditions, life can be uncertain for the next generation themselves. So, we never know, the next generation may have their own financial and life issues to deal with. Or with increasing global mobility, the next generation, despite best intentions, may not be able to be physically present to help. Also, culture may change over time. This can leave many individuals more financially and mentally vulnerable in their retirement years.
So, how hard can it get?
When I consider the elderly individuals we encounter daily, including our own parents, you can see for yourselves. Compared to their prime years, now they feel lonely; they sometimes feel they are not relevant in the family due to their health issues. Imagine, to add to this, if they have financial issues. To save early and to invest in retirement plans can help [reduce] stress and give security
in old age.
Denne historien er fra March 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 2024-utgaven av Outlook Business.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Adani After Hindenburg 2.0
In the days following Hindenburg's second shot at Gautam Adani, this time with Sebi chief Madhabi Puri Buch in the mix, Adani stocks held steady. But the trust of institutional investors remains to be regained
Where Are The Jobs?
India is staring at a crisis: the cohort of unemployed is growing. But the problem is deeper than mere lack of jobs. So Sitharaman's solutions in Budget 2024 will not be the silver bullet for the crisis
'STAINLESS STEEL SECTOR PROJECTED TO GROW AT 8-9%"
Stainless steel, known for its resistance to corrosion, recyclability and strength, has found its applications across sectors-from kitchen utensils to towering skyscrapers. Abhyuday Jindal, MD, Jindal Stainless discusses five drivers of growth in the stainless-steel sector of India
Harnessing Technology for India's Sporting Future: Insights from IITM
We wanted to bring the rigour of IIT Madras to revolutionise the field of sports as well. We wanted to use the core strengths of IIT Madras - high quality research and development as well as teaching.
Dream11: Driving Fan Engagement and Innovation
Dream11, founded by sports enthusiasts Harsh Jain and Bhavit Sheth, has grown into the world's largest fantasy sports platform by focusing on personalisation, innovation, and a deep understanding of user needs. In an exclusive interview with Outlook Business, Rahul Mirchandani, Chief Product Officer at Dream11 & Dream Sports, speaks about the company's unique approach to product development and user engagement. With over 220 million users, Dream11 emphasises personalisation, user engagement, and cutting-edge technology.
Sports Science Holds The Key to Olympic Wins
Director-in-charge and Head of National Centre for Sports Science and Research (NCSSR) Dr. Bibhu Kalyan Nayak speaks to Outlook on the importance of sports science in modern-day sports training.
Baller Athletik: Pioneering the Future of Sportswear Technology
How Baller Athletik is enhancing athletic performance and recovery with simple, yet powerful wearable tech.
Integrating Technology and Hands-on Training: The Future of Sports Education in India
The first-ever Sports Tech Conclave in India highlighted the importance of combining e-learning with practical experience to shape the future of sports education.
PASSING ON THE LEGACY
It is hard to achieve worklife balance if you are running a family business. For George Alexander Muthoot, managing director of Muthoot Finance, board meetings are the way to spend time with family
Pioneering a Sports Revolution: A Deep Dive into SFA's Vision and Impact on Indian Youth
In an exclusive conversation, the founders of Sports For All (SFA) share their journey of transforming grassroots sports in India. Rishikesh Joshi, a national-level swimmer, and his co-founder Vishwas Choksi, driven by their shared passion for sports, launched SFA with the vision of making sports accessible and enjoyable for every child in the country. From leveraging cutting-edge technology to ensuring inclusivity, SFA is not just nurturing future champions but also revolutionizing the sports landscape in India. This discussion delves into their inspiration, the rapid growth of SFA, and their ambitious goals for the future, shedding light on how they are shaping the next generation of Indian athletes.