When people talk to me about retirement – they compare themselves to their parents. There is a large population that has already got it wrong.
I met 2 people who have crossed 85 years – BOTH said ‘I thought I will die at 76-77, my father died at his age of 74, I did not EXPECT to live this long’. Both are pensioned from the Central Govt., they have no money or health problems – just sheer boredom.
Here is a small article from Economist – it is scary, but I am convinced that I can write a few sequels to my book http://www.subramoney.com/book-written-by-me/
Here is the Economist article http://www.economist.com/daily/chartgallery/displayStory.cfm?story_id=15573043
Going by that chart and if you are a part of the great Indian middle class, you are likely to spend about 30+ years in retirement. I know 40 year olds who are targetting a retirement corpus of Rs. 20 crores for retirement (phew!) – have you calculated how much you need?
Is it not time you at least found out how much you need?
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