By IndiaHub 
With rising life expectancy and healthier lifestyles, attitudes towards age and retirement are changing. Viren Gupta may notice many peers choosing to work into their 60s and 70s. He, too, might prefer delaying retirement, if his health permits, or opt for a phased exit, a flexibility his profession allows. This not only extends income and corpus building but also ensures a smoother emotional transition from a busy work life to retirement. The key trade-off to weigh is work fulfilment versus a work-free life.
What Gupta must consider is whether he can afford to retire. Will he have any financial responsibilities or outstanding debts at that time? If so, has he made provisions for that? He should also review the size of his retirement corpus, the adequacy of his life and health insurance, potential sources of post-retirement income, and household cash flow and budget.
Clearly, retirement decisions go beyond age. Family needs, personal mindset, financial readiness, and lifestyle preferences all play a role. Gupta must be confident he won’t regret his decision. Even with careful planning, risks remain, such as unexpected life events, health issues, or outliving his savings. It’s wise to be aware of these and have a ‘Plan B’ in place.
Content on this page is courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.