Enjoy Retirement Today

Professional privileges may disappear after retirement, but decades of experience and wisdom remain valuable.  A person begins a professional career around the age of 25 and spends the next 30 to 35 years building qualifications, handling responsibilities, managing people and gaining practical experience.  By the time retirement arrives, that person may be at the peak of professional wisdom.  Then, almost overnight, everything changes. The regular salary stops. Official accommodation, vehicles, domestic assistance and other privileges disappear. The familiar workplace routine ends, often leaving the retiree unprepared for an entirely different lifestyle. A Lesson from My Father's Retirement After my father retired, the family moved into a smaller house in Mohali (Punjab). One morning, I noticed my father polishing his own shoes. The sight brought tears to my eyes. During my childhood, domestic staff had polished the family's shoes before the children left for school. ...

Retirement can bring an unexpected financial shock, particularly for people who have spent decades enjoying the benefits of a senior professional position. During their working years, many executives and government officials receive a regular salary, spacious accommodation, an official vehicle, domestic assistance, travel allowances and other facilities. These benefits become part of their everyday lifestyle. Then comes retirement day. The salary stops. The official car must be returned. The spacious accommodation may have to be vacated. Household assistance and travel expenses become personal responsibilities. For those without a pension, or with a pension insufficient to maintain their previous lifestyle, the adjustment can be particularly difficult. Retirement does not necessarily arrive after every major family responsibility has been completed. Children may still be pursuing expensive professional degrees in India or abroad. A son or daughter's wedding may require substant...