Tuesday, Aug 16, 2022
×
Outlook.com
×

Wrong Time, Wrong Age

For the new retirees, it's a difficult transition from a world of assured returns to one of insecurity

Wrong Time, Wrong Age Abhijit Bhatlekar

Remember what they said about little drops making an ocean? And also that one really doesn't have to scrimp and scrounge to put aside a decent nest-egg. Just pick and choose a few assured-return avenues to stash your life's savings and whoa, you're ready for a relaxed old age.

Well, don't believe them anymore. 'Cause times have changed and with it's gone the days of fixed returns, government guarantees and slow and steady appreciation. Welcome to the 21st century and the new realities of retirement and old age. Blame the era of liberalisation if you want but a little-talked-about reality is that millions of retired middle-class Indians are today haplessly watching their savings dwindle and the prospect of a comfortable old age disappear. India could be heading for a tragic social crisis of epic dimensions.

Advertisement
Advertisement
Advertisement