Like A Fitness Routine, Retirement Planning Starts Early, Says Mithali Raj
The former captain of the Indian national women’s cricket team, Mithali Raj, states that to be at the top of any game, one needs to start early.
The former captain of the Indian national women’s cricket team, Mithali Raj, states that to be at the top of any game, one needs to start early.
Mithali Raj
Much like retirement planning, maintaining mental and physical fitness requires early commitment and consistent effort. While physical activity keeps the body healthy and energized, nurturing mental resilience is crucial for navigating life’s challenges. Whether facing the demands of international cricket or preparing for retirement, starting early and staying disciplined are key to long-term success, stated Mithali Raj, the former captain of India’s national women’s cricket team.
Speaking at the Outlook Money Retirement Expo 40After 40, she explains that even in retirement, maintaining physical activity is essential not just for appearance but for overall well-being. Exercise boosts energy levels and mental clarity, aiding in day-to-day tasks, says Mithali Raj.
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She explains that during her playing career, her father would manage her finances, but he also emphasized the importance of understanding investments and financial planning. With more time now on her hands, she’s actively learning about their investments and seeking ways to optimize returns.
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She stresses educating young players about financial management, especially given the substantial earnings involved in today’s cricket. In the early days, when money was scarce, the contrast with current times is stark. For instance, an uncapped player was recently signed for two crores rupees, a considerable sum compared to earlier years. Mithali stresses the importance of guiding young players on prudent investment practices and ensuring they don’t get carried away by the allure of high-profile tournaments like the Women’s Premier League (WPL) or Indian Premier League (IPL).
Talking about how important it is to be mentally and physically fit in cricket, Mithali shared some helpful thoughts. She said being disciplined and ready is the key to doing well in the game.
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When they talked about money matters, Mithali gave some personal advice on handling finances after retiring. She talked about watching out for good investment chances and learning about money. Mithali also said it’s crucial for athletes moving on from sports to plan their finances wisely.
Mithali says that she handles her finances after retiring and is careful to find a balance between taking risks and getting rewards. While she explores new chances, she sticks to her financial values. Every investment she makes fits with her big plans for the future.
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Outliving your savings is one of the biggest risks in retirement. Here’s what you can do to make sure your savings outlive you
Despite all the efforts and planning, retirees may sometimes face financially challenging situations. In such an emergency, a home can be used as collateral to get a loan, but should you really go for it?
There are huge amounts of unclaimed funds lying with banks and insurance companies. The reason is that the depositor forgot to share their bank account details and investments with their beneficiaries. So, keeping the family informed about your critical financial assets, such as bank accounts and investments, is crucial.
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