Topic by Nambi
A timely topic considering our age could be "Retirement, where, why and how?".
NRIs weighing available options as well as our friends in India witnessing the rapid changes due to globalization could shed some light on the topic to benefit the group.
On VIBYOR, this could be a ready reference whenever needed in the future.
Can we now hear your thoughts on "Retirement, where, why and how?".
Responses
Gautham
Let me begin with by adding an another question to Nambi's
Will there be?
Have added this as it is a very relevant question in the context of entrepreneurs...while certainly there has be a paradigm shift to the age old thinking that businesses need to be passed on....still it needs enormous resolve to either be aloof from it assuming there is continuity of business by your children/ kin or to close shop and quit. Probably in today's frame of mind I may decide to exit....only time will tell how sure I am on this.....
Where?
Unequivocally the place of my residence now....known-place, people, environment and also the ease to pursue my golfing!
Why?
Fatigue and for a clutter free lifestyle....
How?
In pursuing my favourite interests, travel and very importantly catching up the lost backlog of quality time with my better half! (Disclaimer- it doesn't mean that it is not quality time I now spend with her!)
Venkat
Retirement, where, why and how?
I saw that as four questions rather than three.
'When' would have been the fifth, but you didn't ask for it...
The first question is 'retirement' itself. What will be the 'retirement'?
Many of us I suspect are actually gearing up for a busy second outing when we say retirement..
One of my school mates after a successful career, he I thought was at his peak, just quit two weeks ago rather surprisingly. He had planned it for long is what emerged when he outlined what he would do. Nothing too surprising considering some of us have actually either expressed similar ideas or already doing it, like Subu. This highschoolmate is getting in to 'counselling' for youngsters, especially aimed at those at the start of careers. He was an Engineer who spent years in Cisco, in Silicon valley and then in India. But just a month prior to quitting his high paying IT infrastructure expert job with a Technology leader at Bangalore, he had completed a B.A Psychology degree!! He planned it so well. He is getting in to counselling, absolutely on a non-profit charitable basis. I had a long chat with him to find out what pushed him in to this. I couldn't actually figure out anything except say that he is being motivated by everything sublime.
During the offsite, one of colleagues said to me that retirement for him at least for the first year will be 'actual retirement'! He will do nothing and just chill out!
So what is retirement for me? To be honest, I don't know. My idea of retirement though is do something at my own pace, and do something I totally enjoy...
I also have a feeling that I will gradually 'phase myself in' rather than just 'switch' one fine day!
'Where' may be quite clear for me. It should be India.
'Why' is also simple. As Sriram had explained in his i-Melan, in Dubai (middle east in general) irrespective of length of time anyone spent, no one has the option to become a permanent resident, not to speak of citizenship. We need to go back. I had been clear even otherwise.
How? By this, you may have implicitly asked how we are to manage the transition? Culturally, there is nothing for us to adjust as the Indian community in Dubai had largely retained the 'native' culture (not sure if it is a good or a bad thing).
Professional, business environment in India is not very similar, but we don't intend to go back to the competitive landscape anyway...
As I said in one of previous emails, may like a villain role in a Tamil movie! Or simple Tirukkural teacher job (today is teacher's day in India)...may be this is more realistic, and something I could bring a new dimension to...
Nithyanandha job also fascinates me!!!!!
Swarna
Retirement - this has been on my wishlist for ever. Everytime we had a retirement party at office, I had envied the retiring person, his free future days, and the legitimate and well earned retired life....
So , though I had always wished for Here, Now and no-reason (for where, when and why) retirement, and for the "how" of it - I need it to be a legitimate one - which I don't feel guilty about later... but all the four together will not be practical, since the first three clearly contradict with the fourth, so I will have to wait for my legitimate retirement day.
Where? Obviously in Chennai. That's my city, the place I grew up in, the place I completely belong.
My dream is to go back and settle down in the parental house at Adambakam, where I grew up as a child and where I can have a chance to be for my parents in their old age....
How?
I will willingly retire when I have to go, I cannot grudge the BJP Govt more for extending the retirement age from 58 to 60...! This is probably a rare utterance from a Government employee (Arasu Ooziyar) ..!
Why?
This is odd. Retirement is a certainty, and we can be better prepared for it. There are people who are into an early retirement either forced or voluntary, but I no longer have that option. I think the financial security that a job provides is a major dampener against retirement for most commoners.
That was from a Arasu Ooziyar perspective!
Srini
My pet topic, Nambi ! I want retirement because jnanam is 'arunam' (free from the bondage - of actions) and 'achalam' (still) ! But action is for the actor or the one who thinks 'I do'. So if this idea (of doer-ship) goes then even while acting one is leading a retired life ? This is part fun part spiritual take on retirement. There are twenty other mundane reasons too !
Pls read arunam as A - Runam. That which ends Runam !
Sumathi
Surya once advised me about succession Planning, I don't know how it will work out. As per company's policy only my daughter can take over from me and I don't know whether she will. So I have to decide when I should resign. But after building up the business from scratch to this good position, retirement is going to be tough call for me.
Without Knowing when I am going to retire I have no answers for the other questions.
Surya
Thanks for raising the retirement topic as a companion piece to Suresh Babu's question on the topic of retirement. Suresh Babu asked about our aspirations. Yours is really around, if I read it accurately, 'will be settle in India, or in our home town in India, or not. And when and why?'
Bharani has been eloquent on this exact topic before (need to dig it up... Yahoo search ... ugh!!)
Here is my take:
- We think we will settle in NYC as a home base. Why? Comfortable there. Highly active. Age Friendly city!
- We hope to travel the world a fair bit in retirement. If one constructed a pie-chart of where travelled, I imagine 40% of that would be in India traveling to various parts we have not been to - Varnasi, Kornak, Gir and so on) and 40% to places like Africa, South America etc. The final 20% in North America.
Such a plan will certainly feed our travel and desire to write appetite.
Bharani
Good topic Nambi and continues to be a very relevant one at this age.
Where
I see myself shuttling between US and India. I am making sure that all my retirement plans/ benefits will be applicable in both places.
When
Sometime between age 55 - 62. Currently I am one among 12 pilot participants in my company's Alternate Work Solutions program. This is built on the concept that Work is an Activity and NOT a location. Our laptops have been equipped with latest technology like soft phones, screen sharing, video conferencing, etc. We will be working from home for up to 4 days in a week. Once this program proves successful, this will be opened up for more participants and at a broader level. At that stage, I am hoping I can work from India for an extended period. If the company allows this, I will work till age 62. If not, I will take voluntary retirement by 55.
How - this is as stated in my earlier email
I would love to indulge more into Music - have special acoustics setup with a collection of the world's finest music. I see myself splitting my time between training, travel, writing, and social causes. I have already done some groundwork and entered into partnerships for some of those.
Why
I need to satisfy the older generation - my Periamma and Mom's wishes of being back in India, and my son's future plans of settling in the US. I also need time to take care of my husband and my bucket list.
Hopefully things go well as planned.
Krishnan
What is Retirement:
Someone told me that a person Tires at the age of 40, then recoups and gets energy to go further. Then at the age of 60 Re-Tires.
I’m not tired yet. I may not retire. I may continue to work to achieve something. There are many things to achieve.
Where:
Kerala, in my village on the banks of river Periyar, close to the Cochin airport.
This way, I can enjoy the serene of the village, a bathe in the river or in the village temple canal, a visit to the temple, sit in the roadside shop and have tea and simple breakfast, a simple peaceful life, yet be close to Cochin city.
I make it a point to visit this place once each year or so to reinforce this thought and experience.
How:
Having seen the routine of some of the retired persons, I get a feeling that they can still contribute to the society at large, but not doing so for whatever reasons.
1) I would like to pull this great pool of experience and make it benefit the next generations by giving them an opportunity and a facility to
a. Share their experience
b. teach the kids who do not go to school
c. participate in teaching the illiterate adults
d. tell nice stories to kids
e. teach music, arts, crafts
f. put their ideas for betterment
2) I want to create an entrepreneur development consortium
a. that would enable entrepreneurs to develop their ideas and create wealth for the country.
b. there are many entrepreneurs in our group who can become a part of this consortium to contribute to this in terms of ideas, management guidance, funding, marketing.
3) Start a football( soccer ) coaching in the village and spread it as a movement across Kerala, Goa, and many other places.
Get the children to start learning football, provide them learning till college, get them into professional football leagues.
Why:
Why retire ? I shall not want to retire. I wish to continue to work to achieve something. There are many things to achieve.
Like Robert Frost wrote “I have promises to keep, and miles to go before I sleep”
Bharani
Good topic Nambi and continues to be a very relevant one at this age.
Where
I see myself shuttling between US and India. I am making sure that all my retirement plans/ benefits will be applicable in both places.
When
Sometime between age 55 - 62. Currently I am one among 12 pilot participants in my company's Alternate Work Solutions program. This is built on the concept that Work is an Activity and NOT a location. Our laptops have been equipped with latest technology like soft phones, screen sharing, video conferencing, etc. We will be working from home for up to 4 days in a week. Once this program proves successful, this will be opened up for more participants and at a broader level. At that stage, I am hoping I can work from India for an extended period. If the company allows this, I will work till age 62. If not, I will take voluntary retirement by 55.
How - this is as stated in my earlier email
I would love to indulge more into Music - have special acoustics setup with a collection of the world's finest music. I see myself splitting my time between training, travel, writing, and social causes. I have already done some groundwork and entered into partnerships for some of those.
Why
I need to satisfy the older generation - my Periamma and Mom's wishes of being back in India, and my son's future plans of settling in the US. I also need time to take care of my husband and my bucket list.
Hopefully things go well as planned.
Krishnan
What is Retirement:
Someone told me that a person Tires at the age of 40, then recoups and gets energy to go further. Then at the age of 60 Re-Tires.
I’m not tired yet. I may not retire. I may continue to work to achieve something. There are many things to achieve.
Where:
Kerala, in my village on the banks of river Periyar, close to the Cochin airport.
This way, I can enjoy the serene of the village, a bathe in the river or in the village temple canal, a visit to the temple, sit in the roadside shop and have tea and simple breakfast, a simple peaceful life, yet be close to Cochin city.
How:
Having seen the routine of some of the retired persons, I get a feeling that they can still contribute to the society at large, but not doing so for whatever reasons.
1) I would like to pull this great pool of experience and make it benefit the next generations by giving them an opportunity and a facility to
a. Share their experience
b. teach the kids who do not go to school
c. participate in teaching the illiterate adults
d. tell nice stories to kids
e. teach music, arts, crafts
f. put their ideas for betterment
2) I want to create an entrepreneur development consortium
a. that would enable entrepreneurs to develop their ideas and create wealth for the country.
b. there are many entrepreneurs in our group who can become a part of this consortium to contribute to this in terms of ideas, management guidance, funding, marketing.
3) Start a football( soccer ) coaching in the village and spread it as a movement across Kerala, Goa, and many other places.
Get the children to start learning football, provide them learning till college, get them into professional football leagues.
Why:
Why retire ? I shall not want to retire. I wish to continue to work to achieve something. There are many things to achieve.
Like Robert Frost wrote “I have promises to keep, and miles to go before I sleep”
Suresh Babu's companion piece: Retirement Aspirations
Surya's companion piece: Three questions for retirement
http://agingonthevine.blogspot.com/2010/11/reflection-on-three-questions.html