As a vibrant buzz filled the air, the Outlook Money 40After40 Retirement Expo kick-started in Mumbai on January 23, 2024, to unveil the secrets and mantras of retirement. This unique event, a first of its kind, promises to be more than just a platform for information; it’s a celebration of the exciting phase of life that awaits you after the grind of the working years.

The event started with the lighting of the ceremonial lamp by the dignitaries including Outlook Group CEO Indranil Roy, Nidhi Sinha, Editor of Outlook Money, V. Vaidyanathan, MD and CEO of IDFC FIRST Bank, Bharat Shah, Executive Director, ASK Asset & Wealth Management Group, K.S. Rao, Head of Investor Education and Distribution Development at Aditya Birla Sun Life AMC, Swarup Mohanty, Vice Chairman and CEO of Mirae Asset Invest Managers (INDIA) and Ritesh Kumar, MD and CEO of HDFC Ergo General insurance.

Welcoming everyone, Indranil Roy thanked all sponsors and partners for their confidence and support to Outlook Group in launching India’s first exclusive platform for everything retirement. He said that we have emerged as the trusted partner for all because of the credibility of Outlook Money, India’s only Personal Finance Magazine. Stressing the need for retirement planning, he said, “According to the United Nations Population Fund’s India Ageing Report 2023, population above 60 years will double from 10.5 per cent or 14.9 crore (as of July 1, 2022) to 20.8 per cent or 34.7 crore by 2050. According to the WHO report, between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12 per cent to 22 per cent.”

“On average, people invest 17 per cent of their total income. Within that, 21 per cent is invested for retirement. This is even lower among those aged above 40,” he said, adding that since the pandemic, the percentage of respondents who do not have a retirement plan has dropped from 51 per cent reported in the 2020 survey to 33 per cent in the 2023 survey.

Nidhi Sinha, Editor of Outlook Money, set the stage with a warm welcome address that resonated with wisdom and practical advice. “Outlook Money has consistently conveyed to its readers through our stories that you should start investing for retirement as early as possible to make your investment journey smoother. We have also been saying that if you haven’t started already, it’s never too late. There are strategies to overcome the challenges of starting to plan for retirement at any stage. But if you are around 40 already, know that the clock is ticking, and you need to start now.”

Regarding the event, Sinha said, “The unique expo aims to redefine retirement concepts, bridge the knowledge gap and set the stage for discussions on all the aspects of retirement planning.”

Her words echoed Outlook Money’s message – start early and plan smartly. “I believe retirement planning is not just about preparing for your finances. It also involves careful decisions on other aspects. With the nuclear family culture taking over India, you may have to explore senior living options. A very important conversation is also about wellness and health. Sound planning around health in the early years can ensure that you lead an active and healthy life post-retirement. And that may also provide you with the option of reinventing yourself, to follow your dreams that you may have been unable to pursue during working years,” She said.

“I sincerely hope that our audience will have multiple takeaways from our informative sessions designed just for them,” she said, adding that this event is not just a platform for information but a space for dialogue and interaction.

Sharing their mantra for retirement, dignitaries on stage said they have set aside their retirement kitty and don’t touch it. The unanimous thought that emerged from their discussion was planning early, enjoying later, and staying healthy.

With their words, the curtain has truly risen. For the next two days, the Outlook Money 40After40 Retirement Expo is ready to unveil its secrets to empower individuals to chart their own unique paths towards a fulfilling and vibrant future, where retirement isn’t a destination but a joyous, ongoing celebration of life.