It’s reassuring to receive a regular salary every month, but that may extend only till your working years. If you are asking if it’s possible to have that reassurance even after retirement, the answer is yes, there is. Achieving that aspiration calls for a well-structured plan, abundant retirement savings, and disciplined investments.
If you are among those with that aspiration, the Outlook Money 40After40 expo event, to be organised by Outlook Group in association with IDFC FIRST Bank on January 23-24 in Mumbai, is the right place for you to be.
With the core aim of spreading awareness and creating conversations around retirement planning, the event promises to address not only the financial aspects but also other concerns, including health and wellness, living facilities, travel and more. It aims to provide invaluable insights and expert guidance to individuals, helping them make informed decisions to secure a prosperous retirement.
Outlook Money is the only media house with a dedicated website on retirement, https://retirement.outlookindia.com, that deals with various issues on retirement editorially.
The Importance Of Retirement Planning
According to some estimates, the senior population in India will be around 194 million by 2031, and with increasing life expectancy, it is important to think about the senior citizen segment. The senior population is expected to grow 41 per cent over ten years to 194 million by 2031, according to the National Statistical Office (NSO) report. Besides this, life expectancy has also gone up from 60 years in the late 1990s to around 70 years in 2023 in India.
Typically, people wake up to the importance of planning for retirement late, and because of this late planning, many are forced to compromise with their lifestyles in old age.
Says V. Vaidyanathan, MD & CEO, IDFC FIRST Bank, “The elderly work all their lives, and suddenly realise they are close to retirement in their late 50s. In any case, they face many age-related issues like health. They may also feel loneliness, which is sad. To top this up, if they are short of financial resources, it’s a hard feeling. While physical ageing-related issues are caused by nature, at least, on the finances front, they could plan to have a better life.”
Vaidyanathan adds that IDFC FIRST Bank is thinking of a number of solutions for the elderly. “We want to help people plan their retirement, the education of their children, the marriage of their children, their health insurance and so on,” he says.
What Will The 40After40 Event Offer?
The 40After40 event is an extension of Outlook Money’s commitment to increase awareness about one of the most important goals, which is retirement planning.
“Our retirement platform, of which 40 After 40 is a key part, wants to create awareness and generate debates that can make a material difference in the way people think about their own future and government institutions address their needs,” says Indranil Roy, CEO, Outlook Group.
You could look forward to debates, discussions, masterclasses and workshops at the event that can help you plan better for your future.