Retirement is a life-time opportunity: Soumyajit Ghosh of Wealthapp

Retirement is a life-time opportunity: Soumyajit Ghosh of Wealthapp


Soumyajit Ghosh, Director, Wealthapp Distributors Pvt Ltd, Kolkata

What will retirement do to your life? It may render you jobless without making you incomeless. Normally the shock of being thrown out of a job seems overwhelming because of the risk and fear associated with sudden loss of income. But retirement is different. You continue to have an income, but not the job. What can this mean for your life?

Life is about activity. Activity need not essentially mean physical activity. In fact, holistically speaking, true meaningfulness in life comes from being active in all four dimensions of one’s life: physical, energetic, mental and spiritual. Unfortunately, most professional jobs pursued by majority of the workforce, irrespective of socio-economic category, involves exercising one, or at best, two of these four dimensions that make up our life. Thus, the rigour of managing a job often keeps us away from our basic need to integrate these multiple dimensions of our lives. Which leads to the generation of a vacuum which we fulfil by engaging in a variety of what could be called timepass ­or “lifepass” pursuits. Just like the term timepass implies doing something with your time without any specific purpose, in much the same way lifepass pursuits are the purposeless habits and rituals we trap ourselves in, to subconsciously deal with the vacuum created due to the lack of an integrated, holistic lifestyle.

Retirement is a life-time opportunity. It provides you the time and resources to transform these lifepass pursuits into truly meaningful activities. However, that is not as simple and easy as one might think. Doing this successfully, life embarking on any other meaningful pursuit, requires careful planning, communication, execution and tracking. The four principles of management that we must have deployed to manage things effectively throughout our job-life. This mindset of bringing effective management technique to transform our own lives can help us to become responsible senior individuals, senior-familyzens as well as senior-citizens.

How do you utilise the four tenets of planning, communicating, executing and tracking the self-transformative goals of your life in the post-retirement era? That will essentially start with planning. The mother of all resources: money, is something that you start with. It is likely that you suddenly get access to a certain quantum of money, at one go, which you are expected to utilise to maintain you and your family’s lifestyle. The key however is to move forward from a maintenance-mentality to a development-mentality. Life must continue to develop because maintenance is an inevitable quality built within development. The financial planning should thus sustain your life-development goals as much as your life-maintenance goals.

Let us get into the specifics of the financial planning to support your life-development goals.

Views are personal: The author Soumyajit Ghosh is the Director at Wealthapp Distributors Pvt Ltd, Kolkata

Disclaimer: The views expressed are of the author and are personal. TAML may or may not subscribe to the same. The views expressed in this article / video are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Any action taken by you on the basis of the information contained herein is your responsibility alone and Tata Asset Management will not be liable in any manner for the consequences of such action taken by you.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Disclaimer: Content Produced by Tata Asset Management

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