The Life After Retirement: Your Retirement Plan

Mahaveer Sanglikar

If you’re contemplating retiring from your regular work routine, this is essential reading for you!

Numerous individuals lack post-retirement plans, potentially leading to challenges for both themselves and their family members.

While professionals and business people often continue their work indefinitely, employees typically face retirement in their 60s. What do many of them choose to do after retirement? Here are two illustrative examples.

Mr. A and Mr. B

Mr. A and B were coworkers in a government office, both hailing from middle-class backgrounds and sharing similar educational and cultural upbringings.

Mr. A

Upon reaching the age of 58, Mr. A retired from his position as a clerk without any concrete plans for his post-retirement life. Initially content, he soon found himself grappling with boredom, realizing that living without work was more challenging than anticipated.

Lacking creative or productive hobbies, Mr. A’s pastime shifted to watching news, political debates, cricket, and other seemingly unproductive activities. This became his day-long pursuit post-retirement, with no attempt to acquire new skills or knowledge.

Despite receiving a substantial pension, Mr. A experienced a decline in significance within his family. Feeling hurt by this shift, he started meddling in the personal lives of his family members, leading to daily conflicts.

Mr. B

Mr. B, retired just a year after Mr. A’s retirement. Known for his diverse creative hobbies such as painting, designing, and singing, painting held a special place in his heart. Even before retiring, his artworks graced the walls of art galleries, and he had a substantial presence on digital platforms, securing a steady income from his artistic endeavors.

Although he once contemplated resigning to dedicate himself fully to his passions, he opted to delay, anticipating more time for his interests post-retirement.

Following his retirement, Mr. B organized an exhibition of his paintings, and to his amazement, one piece sold for an astonishing amount. This marked the beginning of his rapid rise to fame as a celebrated painter.

Despite his busy schedule, Mr. B entrusted the care of his family to his wife and children, occasionally spending quality time with them. His approach was characterized by offering opinions rather than issuing directives, and respecting the autonomy of his family members, who held him in high regard.

With the backing of a corporate sponsor, Mr. B showcased his paintings in an exhibition held in London. Accompanied by his family, the event proved to be a success, with many paintings fetching substantial amounts.

The occasion also allowed them to have lunch with the Mayor and other celebrities. Subsequently, they embarked on a memorable Europe tour.

In contrast to Mr. A, who succumbed to a heart attack at the age of 70, Mr. B, now in his 90s, remains robust, and content, and continues to earn acclaim and considerable wealth, showcasing the enduring vitality of his passions and pursuits.

Retirement Plan | Another story that will inspire you

Allow me to share another illustration. A close friend of mine, Mr. Ramesh Umarage, recently concluded his career in the government sector, having served as a police officer. Remarkably, he earned a law degree while actively fulfilling his duties as a law enforcement professional.

Following his retirement, he dedicated two years to the Juvenile court and subsequently ventured into establishing a law consultancy firm in collaboration with a friend. Additionally, he assumed a supervisory role in a metropolitan project within our city for a two-year stint.

Concurrently, he managed his agricultural holdings in his hometown.

Beyond his professional endeavors, Mr. Umarage is a spiritual healer, providing solace to individuals grappling with issues like depression and anxiety. But that’s not all – currently, at the age of 67, he is pursuing a Master’s Degree in Arts and aspires to undertake a Doctorate in the coming years.

This narrative underscores that with a well-conceived post-retirement plan, one possesses the potential to emulate individuals like Mr. B. or my friend, Mr. Umarage.

Even if you don’t harbor grand passions akin to theirs initially, that’s perfectly fine; such passions can be cultivated. The spectrum of possibilities is vast – whether you’re a social enthusiast inclined towards community service, a business-minded individual exploring entrepreneurship, or a creative soul with interests ranging from writing and performing arts to consultancy services based on your pre-retirement expertise. The key lies in selecting a path aligned with your preferences and interests.

Your Retirement Plan | Guidelines for Life After Retirement

Develop a well-thought-out plan for your post-retirement life.
Avoid spending time on unproductive activities.
Dedicate time to your passions, personal well-being, and contributing to the welfare of others.
Prioritize maintaining good health by recognizing the link between a positive mindset, physical exercise, and overall physical fitness, with walking being a recommended form of exercise.
Schedule regular health check-ups to ensure ongoing well-being.
Consider having at least one or two passive income sources, fostering financial independence.
Allocate ample time to family but refrain from controlling their lives, understanding the importance of giving space.
Cultivate a positive outlook toward yourself and others.
Embrace continuous learning and exploration of new things.
Focus on living in the present, letting go of negative memories from the past.
Make a conscious effort to savor and enjoy your life post-retirement.