Taking Guard In Second Innings....

Hello friends

Today is Ganesh Chaturthi which is a very important festival for us in India.
It is also known as Vinayak Chaturthi that reveres God Ganesha. This festival celebrates him as the God of good beginnings, prosperity and obstacle remover. It lasts for 10 days.
So I also thought of making a beginning on another good topic which is on how to keep on working post retirement.
During professional career, all of us plan for our financial goals to cater to different phases of our lives and try to achieve them. It's a different matter all together whether post retirement needs are adequately taken care of in the calculations because most of us might not have been able to do it correctly. And especially in today's scenario when people do not have time for such planning it still becomes more difficult for them. In fact by the time you realize you are already there and ill prepared to lead a comfortable life post retirement.
There is a big difference in the month prior to retirement when you get you last pay cheque and the next month when you cease to get it. There is a sort of mental turmoil and you take time to adjust to the change scenario. But this can be faced with confidence and composure if you are well prepared for it by planning well in advance.
Also one would like to keep on working for few more years, say till the age of 65 to 70 years because it is not only a need in the current scenario but it also allows people not only to keep themselves engaged but also physically and mentally fit.
I for one found it very difficult to kill time post retirement though it was enjoyable for 2 to 3 months immediately after retirement.
 With increased longevity more and more people are choosing to work after retirement. Whether by choice or not, one thing is clear - it requires a lot of patience, perseverance and careful planning to build the 2nd innings career. You may have to change your lifestyle, plan finances and acquire new skills and knowledge. Ideally most learning has to be done during earning years, especially the finances.If you want to work after retirement because you were not able to save enough during working life, the 2nd innings career can be an opportunity to make amends.
However, there is another school of thought that one should retire early and live out of passive earning which a small percentage achieve.
It is also true that a few people can get extension for a few years in private sector companies but this caters to a very small percentage. The best way is to prepare well in advance by giving due consideration to all available options. It also goes without saying that one can always take help of experienced people in this regards.
The following may be considered by those who would like to be in the first category :
 1. Consultancy
 2. Teaching
 3. Professional speaking and writing
 4. Get attached with an insurance company
 5. Get attached to a mutual fund organisation
 6. Make hobby your career, say photography, sports, review writer etc
 7. Set up business on e commerce platform
 8. Blog writing
 9. Affiliate marketing
10. IT related activities, launch your own website
11. Child care
12. Equity market
13. Restaurant
14. Cab service
15. Proof reading and correcting
16. Copy  -  pasting
The above are a few areas which one can consider depending upon your expertise acquired in professional career but the important thing is to try to start learning about the same well in advance so that you are ready to undertake a smooth transition when the need arises. But one can add many more to the above list.
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Self employment is a little tricky.You need funds to set up your own business and also keep running your household. You can build the corpus required for the business with slightly higher exposure to equity but be a bit conservative on household expenses.
Whether you decide to extend your tenure in the current job or start a business or work part time in the field of your expertise or enter a new field, the key to success is to do something you love, albeit with enough resources to back the new beginning.
If someone has entrepreneurial capabilities he or she should never sit at home. All you need to do is to take the plunge and be passionate about your work and the rest will automatically fall in place.

Life is more beautiful, meaningful and productive when you choose to do something fruitful in the 2nd innings of your life.

Let us chase our dreams and make a career out of them.

Excited to be alive every single day


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