Most of us cannot predict about the future. Tautology? Prediction is always about the future, is it not?
So a 30 year old thinks he is going to retire at 49 years and spend the next 20 years in the current home and die at a ripe old age of 70.
A 55 year old thinks Mumbai is too crowded and hot, so he is going to settle in OOty because it is cooler.
A 42 year old thinks he will sell off his existing house, invest the crores and go to a smaller town.
One person thinks that your costs come down if you can stay in a small town and DO YOUR OWN FARMING.
Thane? It is so far of!! Nerul? Omg it is too far off…Panvel? Does anybody stay there?
A 78 year old thinks that an old age home charging Rs. 8k per month as being very unreasonable.
A 80 year old with a rental income of Rs. 35k thinks 10k per month is too high, because she has paid a deposit of 1 Million Rupees.
Let me get some things clear:
A 30 year old has no clue what he is going to do in life, let alone retire, where to live in retirement etc. At the age of 30 the only thing he can / should do is to invest aggressively for his old age. He can use the money to do what ever he wants at the age of 60. Thinking about retirement now is pretty unnecessary and impossible.
The 55 year old has NO CLUE how his body will react to the cold at his age of 78, does he? So he is in some mental foolishness.
The 42 year old is in a fool’s paradise. Land, steel and cement are all commodities. With improved infra there is no reason for Real Estate to give returns more than 7% pa in India. And I maybe on the higher side!
Staying in a small town and doing your own farming: gimme a break. If you have spent 40 years of your life living in Mumbai, it is doubtful whether you will want to go to a small village and live. You will need your 24 hour electricity, 4G, doctors, nursing homes, friends, – I dare say you will not leave the city. A different town may have a different ethos which may not suit you. Stop telling lies.
Most of the people want an old home exactly where they live. Or have been used to living. So for them the ‘suburbs’ look too far away. They forget that the house in which they are staying is now a Rs. 44,000 rupee rental property! They wish to pay Rs. 5k for stay, lunch, electricity, basic care, entertainment,….wake up guys, wake up.
Accept one thing. At 55 you do not know what you will want at 70. At 70 you really do not know what you will want at 80. You will have to live with an older person, cantenkerous self, a failing health and a failing brain. No, it is not easy and you need to reconcile yourself to a 100 year journey. Stop fooling yourself about a bad lifestyle leading to an early death. Protect yourself against a fall. Broken bones take years to heal and terribly restrict your movements. Keeping up a good mood and making new friends continuously is the only remedy. So seek a good old age home, accept that it will be ‘expensive’ because it is a people heavy business (many old age homes have a 1:1 ratio of inmates to employees) and good social contacts is absolutely necessary to be able to live. Happily or otherwise is your choice.
Read the comments of 18 August post!!
Post Footer automatically generated by Add Post Footer Plugin for wordpress.