- I reach the destination
- I enjoy the journey.
To understand this let's take an example : when we plan to visit a place say a Singapore tour .We start planning meticulously about number of days, places to visit, about the climate, the best cuisine of the country, a must place( Juraang night Safari), etc.
All small things are taken care minutely. Similarly we need to essentially understand that life is also a journey to make it happy and enjoying we need a right plan.
Let's understand this with a Circle of life :
An individual has 28000 days in his life span. And from age 0 to 20 and from 60 to 80 age he is without any income. Essentially that makes us realise that half life is without income. So he is left with only 14000 days, which he need to plan meticulously. Otherwise the important life goals which are non-negotiable like :
- Children education and career fund
- Medical emergency fund
- Retirement funds
First priority should be insurance as insurance provide protection and growth without risk. The bread earner is assured that if he is there or not there he has made arrangements for his duties towards children and dependent spouse.
But if we are not saving and investing in luxury and spending lavishly we need to continue on the same path which we are walking right now as on 27 June 2020 till 65,68,70 age .
Our body may not permit but if not we need to fall back on whom:
- Children
- Grandchildren
- Our society
For even our basic need?
Hence let's plan now and have dignified Life of retirement at age 60 and persuing our goals of gardening, painting, teaching, travelling….
Nice article .... Priti ...
ReplyDeleteThere is a concept called money blueprint . It tells us how we should respect and build relationship with money . If it can be well adapted then money would not be missing in our life.
In this concept there is a small point which is mentioned by all success figures that what ever your monthly income stands , always save 10%of it
not as saving but into some concept when money makes money to grow win a long term capital .
Thanks for your valuable feedback.really appreciate
ReplyDeleteFinancial planning is must for everyone from the beginning of their career.
ReplyDeleteGood Article ma'am !!
Interesting concept to view life in terms of earn-able "days". It also indicates that you need to manage your career in a way that you have maximum earning potential (better job role, skills, may be a side business) during these 14000 days.
ReplyDeleteI would go on further to say we should value our 9 working hours to ensure we don't perform the same job activity for too long and move on to larger job role. This can be done by taking risks, additional training, learning new skills, speaking to your managers on career progression and taking that risk of making a job switch. Add to this if you can manage some passive income in form of side business nothing like it.
We should also be conscious of the fact that you can retire much earlier (45, 50..) and lead an independent life while your own side gig at your own pace. Imagine an retired life at relatively young age, able to see your kids grow , go on a vacation that you always wished for (without worrying about the number of day of leaves that you need to apply).
This can be possible only by working super hard , not settling on a boring job role playing safe. Keep learning , keep progressing & challenge your comfort zone regularly.
Excellent. Thanks for your comment
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