Planning an Early Retirement? Here’s what you should know
Ironically, enjoying free time requires quite a bit of money.
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Every now and then, a question keeps popping into your head. Could I retire early? What are the things I would do if I had enough money to take care of my needs? Probably a wildlife safari in Africa or a “discover- yourself“ trip to Vietnam.
The thought itself is interesting. The thought though is followed by the inevitable. Could I actually retire early? The world as we know it, is changing. There was a time when 60 seemed a good age to settle down into a life of leisure and time for oneself. Today’s start up culture has entrepreneurs and employees who’ve cashed in on their ESOPS retiring as early as 40. Of course they’ll tell you that they still work and consult in their free time.
Early retirement is a choice. So is planning.
Living the life that you always wanted is more about planning, is what most successful people would tell you. In simple terms, making the right choices and at the right time makes all the difference. In many ways managing wealth and planning your finances is like making a choice between a doctor or self medicating. You know that both these options are doable, it’s just a question of whether you know better than the guy whose career itself is managing money.
Outsource what can be
In most companies, the idea of a BPO came up because companies wanted to focus on core businesses where they felt their strengths lay, as opposed to managing ancillary functions which could be outsourced. If it works for companies, why should it be any different for you as an individual? Most of your day is spent working on your work related assignments and the thing that gets neglected the most is your personal finance. Yes, that’s true- the one thing that could help you get closer to your dream vacation is the one that you ignore the most. And yet, you keep yearning for the day when you could pursue those unfulfilled interests. When it comes to managing your finances, make some time and talk to a wealth manager or an expert to help you navigate through the world of investments. It doesn’t mean that you don’t make the call, it just means having someone at your side to help you understand the options available at hand and then making an informed investment decision.
Take your first step now!
If you want to look at retiring early and making the most of what life has to offer, don’t give up. That African safari needn’t be a distant dream. Life has more to offer than just the corner office. At Standard Chartered, we understand this which is why our Priority Banking services offer truly exclusive Priority benefits* such as Wealth services including specialist investment knowledge through global expertise, mortgage solutions with home loans starting at 9.51%, preferential foreign exchange rates and Priority recognition globally, dedicated Relationship Manager and a dozen unique benefits at over INR 1 Lakh*.