The Pot of Gold at the End of the Rainbow

Retirement can mean freedom from the grind of everyday work routine.  It can mean wonderful trips to places you never had time to visit before, it can mean great quality time spent with grandchildren, it can mean the pursuit of hobbies ignored when there were other priorities.  But it certainly does not mean, at least in these current times, leaving your finances to take care of itself.

There was a time, long, long ago, when money was deposited in banks or post office schemes or company bonds earning good amounts of interest.  But interest rates have since fallen and inflation has reared its ugly head of late and keeping this type of investment as your sole one can hurt you in various ways.  Besides, there are so many different options present that were not there previously.  Investment instruments are getting more and more transparent with more regulatory safeguards being put into place for the benefit of small investors.

I think readers will find this article - How Much Interest Income to Generate - by Veer Sardesai in today's Indian Express to be an eye-opener, either for their relatives' sake or for their own future planning or for both. While his particular advice may not work for all people, since it depends on their age and risk appetite, it nonetheless emphasizes the point that investing even during retirement can no longer be passive.   Regular reviews and tweaking of one's portfolio even after retirement should see one's wealth, accumulated after years of hard work, being put to good use at a time when it is needed the most.  It goes without saying, self-education is the first step in achieving this.