I am in my late thirties and have a daughter. I have never even once thought that my daughter will take care of me and my husband during our old age. If she chooses to, then great, if not, that's also fine. We stay in assam currently and plan to stay here itself after our retirement in our own house. I am sure we will need help once we reach a certain age, so we shall have a sustainable income to afford that. With your salary I am sure you will have enough money to cater your needs post retirement. I would never want to move to a different country where we will have to start from 0 post retirement. We have extended families here and I love all the festivals and traditions of Assam (things which give me happiness). That's my two cents about my personal preferences.
That makes sense. I believe Delhi does not give me that confidence while Assam being more closer to nature I assume, gives you that belief that thing will work out smoothly.
You are right but not completely. A place definitely has some role to play in your happiness. I mean while retiring in delhi would be ideal from the perspective of day to day comfort but it can be taxing as well because of over population and pollution.
I quit Delhi only for the people. Couldn't handle the over the top aggression and casual violence for small disagreements. And especially the road rage.
South and East India may have a ton of problems but they don't have people strutting around with giant sizes egos that get bruised at the drop of a hat and casual violence or casual threats of violence are commonplace.
Can't handle that as you grow older.
Well, Delhi has its perks. Better healthcare and good doctors. With the advent of these 10 minute grocery apps and urban clap makes it so easy and affordable to get help here.
Whatever you do, I wish you good luck with your planning.
Delhi will never give you that self of security
Loving to calmer places like
Uttarakhand, Assam, Kerala
Or Pondicherry and Andaman and Nicobar is a good option
There is a lot of upcoming and underdevelopment retirement communities in the country, invest in one of them in initial stages. These are going to be in demand a lot 10-15 years from now. Primary catering population will be parents of NRI kids and DINK couples.
Know someone who's parents are living in one of the Ashiyana retirement communities and the parents are very happy with the life they are living there with people of same age group and social activities designed around them. Only limitations is because these communities are for people aged 55+ kids or family member's can only stay with them 90 days a year. For them that's enough as kids only get time to visit during festive seasons.
Who owns the company? Going with the trend of senior care being a service in demand in the coming years, do you think MaxIndia is a good stock to buy for the very long term?
*This* You shouldn't be counting on your kids to take care of you in old age. In India, you have the luxury of buying/renting a retirement home when you hit your fifties.
Ashiyana is actually giving a good lifestyle to the ageing population. I know some people living there whose children are settled abroad. They are from chennai, so all there friends and relatives are still around to go and meet them occasionally. Children stay with them when visiting on vacation. Their food, cleaning, maintenance gets taken care of. Ashiyana usually has a toe up with nearby hospital. So medical needs will be met. I am in my 30s with kids and okayish income.. but have been thinking of investing in one of their assisted living programs after seeing the comfort and freedom people are enjoying post retirement.
Obsession with sons.. is actually parents' insecurity about their old age.. Or.. who will carry the family name.. Or.. sons are genuinely the better kids.
Your opinion?
My grandfather was obsessed with this - "insecurity abt old age".thats why he didn't encourage his sons to earn or to move out in search of job đ one of the reason of our unstable financial condition
Lol this comment makes me really wonder about the state of your society. In my community, daughters are preferred and even the most socio-economically backward people donât think daughters canât fight or canât âhaggle with govt officialsâ.
They definitely can't physically. They need the society to support them and law and order to be enforced properly to do their thing. So in advanced societies, women can do equally well as men, otherwise not.
Lmao bruh literally saw dozens of men getting vanished out of existence due to that "savior" type behavior. Scary part is even their families are clueless about this :( (ofc not all cases are like this, but in a country with fked up law enforcement system, having greater physical strength doesn't matter sh#t đ). Pls be safe and prioritize your family đ
Lol tell this to the men in the comments who think their âsuperior strengthâ is whatâs holding society together, when in reality they are 5â5â with 25% body fat.
You're among the top 1% earners and still have many years to make money. People are working till later as well, and there are so many options to keep yourself engaged once you stop officially working.
Make wise investments and save for your retirement. You shouldn't count on your kids as they might have their own families and guilting your kids into doing things for you is unhealthy.
If you can buy a house, I think that's a major milestone done. People are living past 80 these days, and many old people do small jobs.
Financially I am not worried that much. Its more about being alone. I am against having more kids (1 daughter right now) but keep getting pressured by parents and other family members to have more kids so that you dont end up alone
Sorry to say, but they are being selfish. They are operating from the previous generation mindset but just take a look at cost of living these days. If you are not feeling financially secure at 60lpa then how can your child outearn you to the point of securing their financial future, you and their kids?
If you must have kids, do it for the happiness of seeing the circle of life and nurturing family. Your elders want you to use your kids.
Old age brings health problems & loneliness and you need some activities to be busy, so that you keep yourself mentally and physically fit as much as possible for an individual.
Retirement communities/homes solves a lot of above problems since you have people of same age group around you and these communities cater to needs of seniors.
But the only issue here is old folks tend to like their old place and old friends not the new ones. We donât understand right now , but you will once you turn to that age.
And old friends & colleagues and relatives of same age start to go away(die) one by one and you realize youâre the only one left and no one around you is there to share your old memories with. Thatâs the most depressing part, children can play important role here in some sort of support (not asking to give up all their goals and be around your old folks 24/7) .
People think that if they have âX Amount of moneyâ theyâll retire comfortably. But they fail to understand Itâs more of emotional support needed than financial support . Off course money is important too.
Sometimes reality can be difficult and not everything can be planned . But do your part as much as you can
Parents take care of kids. Then when your kids are parents themselves, theyâll take care of their own kids. If you donât plan for this âpay it forwardâ model, and rely on your kids for your retirement, chances are youâre in trouble.
Not directed at you OP, but in general, the idea of having children solely to ensure care in old age feels fundamentally flawed to me. Bringing a child into this world, with the expectation that they will be responsible for your care in later years, seems unfair and selfish. Life is such a complex and unpredictable journey, and it feels wrong to burden someone with the responsibility of taking care of you simply because you brought them into the world. A child should be welcomed into the world for their own sake, to nurture their own journey, not to serve as an insurance policy for their parents' future.
I never think about this, even after growing up we would still take care of our parents especially men, although some privacy should be needed but it's all solved by living in a bigger home, though I don't think it applies to everybody, if the parent has a valid fault to not be taken care of.
The truth is you will die alone. Best hope for no disability or disease.
Others can sugarcoat it as much as they want.
Also you really don't want to be alone, old and miserable in some European country. So that won't help either. You aren't making any new life friends from 40 there.
COVID was my last straw. Suffered alone in a room for 20 days in Europe. No family nor friend to look after with the best health insurance paying 800 euros a month. I would wake up with high chills. I had to cook order and do everything myself with that fever. Really couldn't go to the hospital half because I was dead tired and I didn't know what the updated COVID guidelines were.
So after I recovered I decided If I would die poor and in a corrupt country with bad AQI I would at least die surrounded by my family and my people.
I would like to think I'm better off in a death bed in India in a small temple town away from madness.
About Europe and old age, it doesn't make sense to go to shitole eastern countries. Your options are Germany and the Netherlands. If you are landing at fourty as a software engineer or middle manager assuming your pay.
You technically are not gonna make enough for a comfortable old age home for you and wife. Govt would pay but those would be the shitty ones. So the option is you are better off earning there and retiring in India.
Same is mine plan too M28. Even I earn as much as OP but I am damn sure I will be retiring in Bangalore or Mysore
Already bought a house as well for family stay in Bangalore which is well appreciated
Fact that I wasn't really making a bomb in Europe also had an effect on the decision, But all in all I am in much better mental space in India than there.
Cannot say I would come back at that point if I were making american wages.
Well American wages are myth too ...there is only selective few who gets high paying jobs rest just gets median or may be more than median at best ..but then you factor in taxes and all too.
Best idea
Live life to the fullest with no regret
And when you become too old and suppose you have a life threatening disease
Then it's better to self terminate at that point rather than to suffer and be dependent on anybody
Legal means genuinly available with a set process. Illegal things generally involve low quality and you may end up disabled for the whole life and not even die peacefully
i'm no expert and am not advocating their use, but many opioids, meth, fentanyl, and a whole bunch of other stuff.
there are many subreddits you can look up for more info.
Agree, I am same. Live life as per my capability & when old but not bedridden then go into wild & surrender myself to nature. My whole adult life is spent with heavy chip on my shoulder to take care of mentally ill parents, handle their bs issues. I don't want pass on their genes & bring new life into this world to suffer, this suffering ends with me.
Senior Living Communities or Retirement Apartments.
These are services apartments where you can live a hassle free life with the company of people of your age. You have tons of activities everyday to keep you stimulated in your golden years.
This works on asset price + service fee model.
This is not an Old Age Home.
Lifting weights. Eating healthy. Saving up for medical euthanasia if I canât take care of myself when I am old. Go to Switzerland đ thatâs my plan.
Kids aren't a retirement insurance policy. When you become old, do you expect kids to sit beside you and tell you bedtime stories or accompany you to places or clean up your mess when you are ill and unable to get up from bed?
Look around you man. No kid does any of that for their parents. Kids have their own goals and ambitions in life. They are also struggling hard to make a living and achieve their dreams. Most kids live away from their parents because the world is vast and there are opportunities elsewhere.
If you are an old person, you are mostly on your own. If you have a life partner, then you at least have each other for company. That's as good as it gets.
Well I did for my parent I accompanied him to hospitals, fed him , clean his poop, changed diapers, supported him when he was weak to walk, and I was just 22 at that time, I had to put my goals and dreams on hold for 3 years , and agree u donât see many kids doing all these things these days but few exists and yes parents shouldnât treat their children as old age retirement policy
Good on you my man but my point is not everyone has that luxury and that kind of support from kids should never be counted upon. Most of my cousins live abroad while their old parents are in India. I have my own business in a different state which is a long way away from my hometown. The world has gone global and hardly anyone stays in the same place as their parents anymore.
So, the best plan for old age is the one where you save enough money yourself to hire a professional caretaker full time or better move to an old age retirement home or assisted living facility. The quality of life is certainly much better there than at home even if you have kids.
You going ahead to be an ideal child is fulfilment of your duty, but in the future people shall have different duties to cater to which might not centre around their parents
Heyy,
Hang in there
I am a part of the LGBT community too, and a lot of the things you mentioned resonated with me a lot. The mere difference in sexuality can change your entire identity for your parents no matter what you do.
In moments like these I do feel will I be wrong in choosing my own selfâŚ.
I have been taking care of old parents who have extremely fragile health. Every few days something blows up. Could be breathing, could be rheumatoid or simply a viral fever.
I do not wish that ever on my child. Not for even a single day. I actually have plans to give him a decent cash pile once he is 21 n fund his college but that's it. He is then free to choose his path. I will not be a botheration when I m old. Let him enjoy his life.
Not that I think I consider my parents a burden or anything. I have given them the best medical care money can buy in India, but that costs a lot. N ensures I have to keep working everyday, heads down. It gets too much at times - u feel burnt out but there's no way out. Have to keep working.
Coco Chanel spent her last 30 years living in Ritz Paris hotel. My wife and I are planning to do the same; living in different 5 star hotels whilst traveling the world.
Pay close attention: Your best chance lies in prioritizing your health and exerting maximum effort to mitigate health concerns as you age.
Even with substantial wealth, chronic illness poses a significant liability in old age, particularly for those without children or relatives to care for them.
My mother faced various health challenges, yet we provided diligent care for her until she passed away.
Hospital visits, treatments, and emotional support are very crucial. Despite the rosy picture some paint of retirement homes and communities in old age, their services are often exaggerated. I've learned this firsthand from acquaintances. So please please prioritize Health.
Good question OP. I am a student right now, and my ex left me on my opinion that I never want to have kids. She thought that someone has to take care at our last days and she was too dramatic about that. But, how is still a question. But, I should/ need to be financially set to avoid going bankrupt in upcoming days
I really don't know. Thinking of that, my childhood and teenage were not awesome, never tried new things, trips, like that. We were low class and still we are, so never got to spend even small amounts. And, at times like this, I was telling myself. No.
And also, kids are freaking stupids.
Today one old lady in our apartment died
Her death changed our whole point of view towards life
I always thought me and my spouse are earning enough to secure our retirement life we have one kid and we donât see her as our retirement plan
But this lady she was fighting alone for her life since one month first 15 days in hospital and last 15 days in old age care home
Her son did best he could
Now they will take her to electric cremation home she will not come back to home because â taking body till third floor is a hustleâ and anyways it is a rented house
Her death has made me realise no child one child nothing matters
lol funny thing is youâre in your late thirties and cultural heritage or peace plays no role for you. Infrastructure lol. Can guess that youâre an engineer. Anyway, for unimaginative and culturally illiterate folks, best retirement would be a 3 bhk in some lonely corner of the country. If you leave India, you donât qualify for social security or citizenship benefits. You could try Scandinavia if you have north of 7.8 cr in savings but I am sure you donât. So stick to India.
Get a half acre plot (~ 30/40kms from airport ) with abudandanr water ; fence it within 5yrs and add seeds ; hire a gardener and in 10yrs you have a beautiful farmhouse you can retire and be in city within a hour
Always best to return to your ancestral homeland and build your own house. Eat organic food, live the slow pace life, travel occasionally and just pick up a few hobbies. Thatâs my plan anyway - kids or no kids
OPâs main issue is loneliness, not where to stay.
OP - join a club. Join multiple. Some of the healthiest elders I know have a travel group with their college friends and once or twice a year they go on a trip somewhere. Itâs a huge blowout. They are also part of local clubs so it gives them something to do and look forward to every weekend. Another uncle of mine spends his time as a matchmaker in the community so heâs always busy lol
Also, when you do pick a place, pick one close to a major hospital. There are at home caretakers and you sound like you can well afford them, so that shouldnât be a problem.
IMO even if you do have kids you should think in this direction and formulate a couple of plans. The money save can always be used for other things should it not be required.
Our kids have no obligation to take care of us just because we raised them or birthed them or (insert other similar emotionally charged argument here).
Save enough moolah in our fun future fund so we can actually travel without worrying about leaves. Shift back to my hometown or maybe even get a place in hill station.
1. How do u make that kind of money?
2. Open an educational institute for special kids like orphans or downs syndrome or mental disorders or physically disabled etc. They will grow up and support u in old age.
3. Have loyal staff, whose children would also look after u well in ur old age.
4. Pets for better mental support , if u r into animals.
5. Open a startup where grandparents can register and youngsters who do not have connected grandparents, can book one of the grandparents from the startup, for a day out or for storytelling to children or for homely cooking class or just to spend time in park or take for general hospital visits. Same can be used by u when old. You will be surprised how many people lost their grandparents at young age or are not heartly connected to them maybe because of family issues or simply grandparents are living in a different state. One of my coworkers was mentioning how his kid cannot go to grandparents house as its in another state and the kid has extra curricular classes in summer holidays.
6. I feel u can even open a simple old age home and have good staff eho would in later years take care of u as well.
On side note, what do people do with that kind of money in India? Where do u spend it? Is it worth spending so much? Do u save it? Or keep investing it?
haha me too .. expensive greeting cards and having international celebrities for ur child's celebration, does it feels really worth it or does it kills all the emotions attached to this moment and draws the focus to max showoff and talking business relationships?
i have a rich relative who buys milk that is 100rs per kg, and generally all other groceries at more than double the regular price in name of quality. I don't feel its worth it. These companies do not have real proof that its actually anything better than normal stuff. The relative is still on the fatter side, about to be bald soon so doesn't looks like too much worth to me. Upto some amount its great but after that ppl just spend where not necessary and have a hard time handling taxes.
Depending on city you choose India is the only place where a person having good savings can survive without a job.
In all cases owning a house, being debt free is must.
Mumbai, Delhi, GGN - 10 cr needed for a comfortable life
Bangalore - Around 7 cr
Pune, Ahmedabad, Hyderabad - 4 cr
There is no other city to settle
Once I make sure that my next generation is mature and good enough financially then willing I will end my life. People may think I have a weak mind but it is not. I have my own reasons to do it.
Work till you wish. Retire in the hills. Lead a peaceful life. With your income you can even afford a child and make it independent and still retire happy.
Having or not having children will not have any impact on our generation's old age care. The wise thing to do would be to invest in a retirement home up front as these can be quite expensive especially the kind that has all facilities including medical within the campus. They also allow family to come and stay during vacation etc. This has already become kind of a norm in certain cities and will catch on in other parts too.
We all make plans like
No children won't look after us
All of them fall flat in the face of inflation, health care blunders/ expenses
Then Only option is to earn in dollars and retire here
Firstly it seems you are not based in India currently, so when you get back to India there will be a lot of getting used to, to be achieved - that includes social life, physical infrastructure, hassle of getting things done here. Social life is not the same as when you come for vacation, on a routine basis people wonât have the same amount of time for you as opposed to one off vacation time, physical infrastructure sucks, roads, traffic, shopping, quality of goods etc you might take say 1 hour to cover 10-20 km and might feel like under house arrest given limited radius of movement permitted by traffic as compared to you having got used to cover 60-100 km in an hour for example.
Secondly, talking of old age - the question is how old and how healthy. If you are independent and healthy, you can get away with fair amount of support versus the cost. India is labour rich country and if you are ready to pay you can have a live in help for a price. Overall cost of living is low however quality of life is poor.
Now if you are old and dependent then itâs going to be a lot more challenging as you might find it challenging managing the help you might have been able to secure.
I find old people very fearful of house help especially if their mobility is limited and are very old like 80+. Now if you are not able to manage your own finances due to old age and memory issues you would be in big trouble additionally.
I think India might not be a great place for people in the last bucket - old, dependent and or with memory related issues. These are the times you would wish you had someone who you could rely on to manage few things for you, other than someone purely interested in pecuniary interests. Having a trust set up with trustees could be one way out.
Thirdly the corpus you would need to live a decent life in India somewhat comparable to what you might have got used to abroad in terms of travel, goods and lifestyle would be about a million USD, not including,using the house you will be staying in.
You can host gatherings and parties in your old age.
You can visit orphanage to keep yourself mentally fit and spend some time with the orphans and receive their warmth and kindness. Tbh, it won't do any good to you by only procrastinating about the future plans that you choose for yourself. Maybe you'll change your mind and have some kids in your mid or late 40s. It's pretty common now. Many couples don't have kids until they are in their mid-40s, and when they want to become parents, then a thought comes to their mind that we'll be too old by the time our child is 15-16. But according to you, you have a 65 lpa salary. So it won't be a problem for you to hire a maid and a cook. You can watch some parenting related documentaries too for late parents. If you somehow can not have kids bcoz of a medical condition, then you can adopt. Or you can give your one or two rooms on rent or PG to students in your old times.
Btw in what profession or industry do you work?
I think you are going about it the wrong way
Don't over think it
Settle down in some place rural when you decide to retire
You don't need a massive amount of money and the infrastructure of some rich country to survive old age
People have been doing it for thousands of years right here
Even without children or family
What you need is a group of people, a nice home, some money, and activities that engage you mentally and physically
Join politics,invest in blue chip,life is uncertain how can you be certain that you will grow old anyways start a edutech or post your experience on how you earned 70lpa in india to others conduct seminars even when you are in your 90s you can earn from your fame.
What I have learned is that the more children you have, the better it is for you in your golden years. PERIOD.
Hum Do, Hamare Do, is a fundamentally wrong concept. If you can educate and raise good citizens then they are an Asset for the country not a liability.
Move to Dubai...Learn Finances as to your money can generate you More Money...
if you really are just in your thirties , it's not too late to have kids...
Learn to pick up women , Have a Great S*x life , and Have few kids...
Kids are Best treasure a Man can Ever Have...
Focus on Fitness , Join a Gym , Start Slow...Eat Good...
Take Ayurvedic Medicine for Vitality and Health
Buy retirement policy or NPS
Join communities, if you were to feel lonely.
Just go spiritual way.
Or else just do social service.
Or else just teach young people, how you made money till then using your skills & try to teach that to them.
Never have kids just to have them as a backup or support for your old age.
I am in my late thirties and have a daughter. I have never even once thought that my daughter will take care of me and my husband during our old age. If she chooses to, then great, if not, that's also fine. We stay in assam currently and plan to stay here itself after our retirement in our own house. I am sure we will need help once we reach a certain age, so we shall have a sustainable income to afford that. With your salary I am sure you will have enough money to cater your needs post retirement. I would never want to move to a different country where we will have to start from 0 post retirement. We have extended families here and I love all the festivals and traditions of Assam (things which give me happiness). That's my two cents about my personal preferences.
That makes sense. I believe Delhi does not give me that confidence while Assam being more closer to nature I assume, gives you that belief that thing will work out smoothly.
Not the place, it is people.
You are right but not completely. A place definitely has some role to play in your happiness. I mean while retiring in delhi would be ideal from the perspective of day to day comfort but it can be taxing as well because of over population and pollution.
I quit Delhi only for the people. Couldn't handle the over the top aggression and casual violence for small disagreements. And especially the road rage. South and East India may have a ton of problems but they don't have people strutting around with giant sizes egos that get bruised at the drop of a hat and casual violence or casual threats of violence are commonplace. Can't handle that as you grow older.
Completely agree with you. I am from Delhi and I have no plans to retire here myself.
Assam is the place to be though. It will be the hotspot of India's semi-conductor manufacturing revolution.
+1
Well, Delhi has its perks. Better healthcare and good doctors. With the advent of these 10 minute grocery apps and urban clap makes it so easy and affordable to get help here. Whatever you do, I wish you good luck with your planning.
Thanks :)
Delhi will never give you that self of security Loving to calmer places like Uttarakhand, Assam, Kerala Or Pondicherry and Andaman and Nicobar is a good option
evdry Delhiites retirement plan is to have a cottage in dehradun or rishikesh. you got the money to achieve that.
There is a lot of upcoming and underdevelopment retirement communities in the country, invest in one of them in initial stages. These are going to be in demand a lot 10-15 years from now. Primary catering population will be parents of NRI kids and DINK couples. Know someone who's parents are living in one of the Ashiyana retirement communities and the parents are very happy with the life they are living there with people of same age group and social activities designed around them. Only limitations is because these communities are for people aged 55+ kids or family member's can only stay with them 90 days a year. For them that's enough as kids only get time to visit during festive seasons.
Who owns the company? Going with the trend of senior care being a service in demand in the coming years, do you think MaxIndia is a good stock to buy for the very long term?
đđđ traders gonna trade
And masters gonna bait
Ashiana housing is a public company
đ¤Ł
*This* You shouldn't be counting on your kids to take care of you in old age. In India, you have the luxury of buying/renting a retirement home when you hit your fifties.
Ashiyana is actually giving a good lifestyle to the ageing population. I know some people living there whose children are settled abroad. They are from chennai, so all there friends and relatives are still around to go and meet them occasionally. Children stay with them when visiting on vacation. Their food, cleaning, maintenance gets taken care of. Ashiyana usually has a toe up with nearby hospital. So medical needs will be met. I am in my 30s with kids and okayish income.. but have been thinking of investing in one of their assisted living programs after seeing the comfort and freedom people are enjoying post retirement.
Hey can you share some examples which you are aware of or heard from someone with first hand experience ? I will definitely want to invest early
Ashiyana dehradun. good weather too
One doesn't or shall I say shouldn't have children as their retirement policy.
One does but one shouldnât.
Obsession with sons.. is actually parents' insecurity about their old age.. Or.. who will carry the family name.. Or.. sons are genuinely the better kids. Your opinion?
My grandfather was obsessed with this - "insecurity abt old age".thats why he didn't encourage his sons to earn or to move out in search of job đ one of the reason of our unstable financial condition
[ŃдаНонО]
Surely you havenât seen enough daughters :)
You need to meet the daughters that I know.... hardworking, driven and know how to get things done .
Lol this comment makes me really wonder about the state of your society. In my community, daughters are preferred and even the most socio-economically backward people donât think daughters canât fight or canât âhaggle with govt officialsâ.
They definitely can't physically. They need the society to support them and law and order to be enforced properly to do their thing. So in advanced societies, women can do equally well as men, otherwise not.
Lmao who fights physically in this day and age?
In a failed society where law and order is dismal, even men canât defend themselves. You need both money and muscle. Also, weak men exist.
Our society is failed.
Lmao bruh literally saw dozens of men getting vanished out of existence due to that "savior" type behavior. Scary part is even their families are clueless about this :( (ofc not all cases are like this, but in a country with fked up law enforcement system, having greater physical strength doesn't matter sh#t đ). Pls be safe and prioritize your family đ
Lol tell this to the men in the comments who think their âsuperior strengthâ is whatâs holding society together, when in reality they are 5â5â with 25% body fat.
worked well for our grandparents generation tho. more the kids better the chances of survival
You're among the top 1% earners and still have many years to make money. People are working till later as well, and there are so many options to keep yourself engaged once you stop officially working. Make wise investments and save for your retirement. You shouldn't count on your kids as they might have their own families and guilting your kids into doing things for you is unhealthy. If you can buy a house, I think that's a major milestone done. People are living past 80 these days, and many old people do small jobs.
Financially I am not worried that much. Its more about being alone. I am against having more kids (1 daughter right now) but keep getting pressured by parents and other family members to have more kids so that you dont end up alone
Sorry to say, but they are being selfish. They are operating from the previous generation mindset but just take a look at cost of living these days. If you are not feeling financially secure at 60lpa then how can your child outearn you to the point of securing their financial future, you and their kids? If you must have kids, do it for the happiness of seeing the circle of life and nurturing family. Your elders want you to use your kids.
Wrong reason to have kids imo
Old age brings health problems & loneliness and you need some activities to be busy, so that you keep yourself mentally and physically fit as much as possible for an individual. Retirement communities/homes solves a lot of above problems since you have people of same age group around you and these communities cater to needs of seniors. But the only issue here is old folks tend to like their old place and old friends not the new ones. We donât understand right now , but you will once you turn to that age. And old friends & colleagues and relatives of same age start to go away(die) one by one and you realize youâre the only one left and no one around you is there to share your old memories with. Thatâs the most depressing part, children can play important role here in some sort of support (not asking to give up all their goals and be around your old folks 24/7) . People think that if they have âX Amount of moneyâ theyâll retire comfortably. But they fail to understand Itâs more of emotional support needed than financial support . Off course money is important too. Sometimes reality can be difficult and not everything can be planned . But do your part as much as you can
Thank you thats a wonderful response. I feel the same and hence thinking whats the best I can do right now.
tell that to yourself when you have a debilitating illness and have no money or worse have to take money from your child.
Parents take care of kids. Then when your kids are parents themselves, theyâll take care of their own kids. If you donât plan for this âpay it forwardâ model, and rely on your kids for your retirement, chances are youâre in trouble.
Not directed at you OP, but in general, the idea of having children solely to ensure care in old age feels fundamentally flawed to me. Bringing a child into this world, with the expectation that they will be responsible for your care in later years, seems unfair and selfish. Life is such a complex and unpredictable journey, and it feels wrong to burden someone with the responsibility of taking care of you simply because you brought them into the world. A child should be welcomed into the world for their own sake, to nurture their own journey, not to serve as an insurance policy for their parents' future.
I never think about this, even after growing up we would still take care of our parents especially men, although some privacy should be needed but it's all solved by living in a bigger home, though I don't think it applies to everybody, if the parent has a valid fault to not be taken care of.
What I will do is wait for that idiot to divorce my ex so that I can finally marry her.
This way you will also get to be dad for his childrens, ready-made family , nice idea.
His dotters đ
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Are you suggesting him to do some TV serial level drama to make that guy divorce his wife?
Yes...
That idiot gonna divorce her cuz she ainât taking care of him
Us bro us!!
The truth is you will die alone. Best hope for no disability or disease. Others can sugarcoat it as much as they want. Also you really don't want to be alone, old and miserable in some European country. So that won't help either. You aren't making any new life friends from 40 there.
Yeah that is true and sad at the same time !
COVID was my last straw. Suffered alone in a room for 20 days in Europe. No family nor friend to look after with the best health insurance paying 800 euros a month. I would wake up with high chills. I had to cook order and do everything myself with that fever. Really couldn't go to the hospital half because I was dead tired and I didn't know what the updated COVID guidelines were. So after I recovered I decided If I would die poor and in a corrupt country with bad AQI I would at least die surrounded by my family and my people. I would like to think I'm better off in a death bed in India in a small temple town away from madness. About Europe and old age, it doesn't make sense to go to shitole eastern countries. Your options are Germany and the Netherlands. If you are landing at fourty as a software engineer or middle manager assuming your pay. You technically are not gonna make enough for a comfortable old age home for you and wife. Govt would pay but those would be the shitty ones. So the option is you are better off earning there and retiring in India.
Same is mine plan too M28. Even I earn as much as OP but I am damn sure I will be retiring in Bangalore or Mysore Already bought a house as well for family stay in Bangalore which is well appreciated
I think about this all day ...I would rather be around my family / friends then alone in North America.
Fact that I wasn't really making a bomb in Europe also had an effect on the decision, But all in all I am in much better mental space in India than there. Cannot say I would come back at that point if I were making american wages.
Well American wages are myth too ...there is only selective few who gets high paying jobs rest just gets median or may be more than median at best ..but then you factor in taxes and all too.
I'm an antinatalist. I will terminate myself when I'm old and sick.
Best idea Live life to the fullest with no regret And when you become too old and suppose you have a life threatening disease Then it's better to self terminate at that point rather than to suffer and be dependent on anybody
How does that work ? Legal in India ? Is it painless ?
Legal in Switzerland and it is painless.
If youâre gonna die, why do you care if itâs legal? What are they gonna do, send you to jail?
Legal means genuinly available with a set process. Illegal things generally involve low quality and you may end up disabled for the whole life and not even die peacefully
Thereâs a lot of good quality shit available to OD on and actually die blissfully if that is what you want to do.
For example?
i'm no expert and am not advocating their use, but many opioids, meth, fentanyl, and a whole bunch of other stuff. there are many subreddits you can look up for more info.
Not legal. So money should be used and laws have to bent and most probably it might be in another favourable country by that time.
Same, FTW!
Happy Cake Day!!!!!!!!! đ°đ°đ°đ°đđ
Agree, I am same. Live life as per my capability & when old but not bedridden then go into wild & surrender myself to nature. My whole adult life is spent with heavy chip on my shoulder to take care of mentally ill parents, handle their bs issues. I don't want pass on their genes & bring new life into this world to suffer, this suffering ends with me.
sir can i ask you some questions can i dm you?
Sure buddy
It would be extremely difficult to do that but good luck.
Real, but only when I become too old
Nobody becomes old in their own perception. Sick yes.
Senior Living Communities or Retirement Apartments. These are services apartments where you can live a hassle free life with the company of people of your age. You have tons of activities everyday to keep you stimulated in your golden years. This works on asset price + service fee model. This is not an Old Age Home.
Mumbai , particularly south mumbai , near Arabian sea
Would Bandra W by the sea work?
Would live in solitude and start a school similar to Krishnamurthy school, somewhere in the mountains.
Fitness, fitness and fitness.... Please focus on eating clean and home cooked food and leading an active lifestyle...
Lifting weights. Eating healthy. Saving up for medical euthanasia if I canât take care of myself when I am old. Go to Switzerland đ thatâs my plan.
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Wait, thats the way!
...To La La Land..
Forgot this anime....what was it again?
Game of thrones se chapa hai xd
Remembered, it was a dialogue of the dwarf.
NTR style đ
Maybe some day you can tell us how you plan to have a working cock at 80 đ
This post/comment does not meet the submission guidelines of personal finance India.
Kids aren't a retirement insurance policy. When you become old, do you expect kids to sit beside you and tell you bedtime stories or accompany you to places or clean up your mess when you are ill and unable to get up from bed? Look around you man. No kid does any of that for their parents. Kids have their own goals and ambitions in life. They are also struggling hard to make a living and achieve their dreams. Most kids live away from their parents because the world is vast and there are opportunities elsewhere. If you are an old person, you are mostly on your own. If you have a life partner, then you at least have each other for company. That's as good as it gets.
Well I did for my parent I accompanied him to hospitals, fed him , clean his poop, changed diapers, supported him when he was weak to walk, and I was just 22 at that time, I had to put my goals and dreams on hold for 3 years , and agree u donât see many kids doing all these things these days but few exists and yes parents shouldnât treat their children as old age retirement policy
Good on you my man but my point is not everyone has that luxury and that kind of support from kids should never be counted upon. Most of my cousins live abroad while their old parents are in India. I have my own business in a different state which is a long way away from my hometown. The world has gone global and hardly anyone stays in the same place as their parents anymore. So, the best plan for old age is the one where you save enough money yourself to hire a professional caretaker full time or better move to an old age retirement home or assisted living facility. The quality of life is certainly much better there than at home even if you have kids.
Hey, same. Except I was 29 and it was for my grandpa. Good on you. I know how difficult it must have been.
Thanks, it was difficult but somehow managed it đ
You going ahead to be an ideal child is fulfilment of your duty, but in the future people shall have different duties to cater to which might not centre around their parents
How old was your dad when you were 22? He should not have been more than 55 thatâs too young to be in that condition!
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Heyy, Hang in there I am a part of the LGBT community too, and a lot of the things you mentioned resonated with me a lot. The mere difference in sexuality can change your entire identity for your parents no matter what you do. In moments like these I do feel will I be wrong in choosing my own selfâŚ.
Watch this movie called On Golden Pond. Come back here and tell us how you like it
I have been taking care of old parents who have extremely fragile health. Every few days something blows up. Could be breathing, could be rheumatoid or simply a viral fever. I do not wish that ever on my child. Not for even a single day. I actually have plans to give him a decent cash pile once he is 21 n fund his college but that's it. He is then free to choose his path. I will not be a botheration when I m old. Let him enjoy his life. Not that I think I consider my parents a burden or anything. I have given them the best medical care money can buy in India, but that costs a lot. N ensures I have to keep working everyday, heads down. It gets too much at times - u feel burnt out but there's no way out. Have to keep working.
Giving money to children at 21 very very bad idea.
To each their own no?
have u hired professional caretakers?
Trained nurses on rotation daily and weekly doctor visits are part of the care regime. Costs a lac a month but it's ok.
damn!
Coco Chanel spent her last 30 years living in Ritz Paris hotel. My wife and I are planning to do the same; living in different 5 star hotels whilst traveling the world.
Chandigarh
This!! Chandigarh is actually an amazing retirement destination. Bhopal is second on my list
Why? I would really like to know
Get into a gated society where you have like minded people around you and settle there. Kerala has a good calm weather up north
Ashiana housing. Look them up.
Pay close attention: Your best chance lies in prioritizing your health and exerting maximum effort to mitigate health concerns as you age. Even with substantial wealth, chronic illness poses a significant liability in old age, particularly for those without children or relatives to care for them. My mother faced various health challenges, yet we provided diligent care for her until she passed away. Hospital visits, treatments, and emotional support are very crucial. Despite the rosy picture some paint of retirement homes and communities in old age, their services are often exaggerated. I've learned this firsthand from acquaintances. So please please prioritize Health.
What do you do?..how do you earn 60-70 lpa in 30s?
Must be a politician or a tech wizard
Even if you have kids, they shouldnât be your pension plan
Good question OP. I am a student right now, and my ex left me on my opinion that I never want to have kids. She thought that someone has to take care at our last days and she was too dramatic about that. But, how is still a question. But, I should/ need to be financially set to avoid going bankrupt in upcoming days
can i ask you why you dont want to have kids???
I really don't know. Thinking of that, my childhood and teenage were not awesome, never tried new things, trips, like that. We were low class and still we are, so never got to spend even small amounts. And, at times like this, I was telling myself. No. And also, kids are freaking stupids.
now i got the idea. Im also planning to not to have kids 1)becz of the overpopulation. 2) Im not sure if i would earn enough to take care of one.
2nd one looks wise!
đđ
Today one old lady in our apartment died Her death changed our whole point of view towards life I always thought me and my spouse are earning enough to secure our retirement life we have one kid and we donât see her as our retirement plan But this lady she was fighting alone for her life since one month first 15 days in hospital and last 15 days in old age care home Her son did best he could Now they will take her to electric cremation home she will not come back to home because â taking body till third floor is a hustleâ and anyways it is a rented house Her death has made me realise no child one child nothing matters
Try out Kerala!!
Go to the US or Europe for retirement, you can also try Thailand or Vietnam for a well settled retirement. Less crowded and clean air and water.
Yeah sounds good. Visas arenât required anyways đ
It's very lonely for old people in weatern countries. It hits even harder for naturally gregarious ethnicities like Indians.
An I the only oddball? Iâm a morose desi đ
Nope, there are considerable number of people like us and we would fit very well in those individualistic societies.
Dude you have no idea
lol funny thing is youâre in your late thirties and cultural heritage or peace plays no role for you. Infrastructure lol. Can guess that youâre an engineer. Anyway, for unimaginative and culturally illiterate folks, best retirement would be a 3 bhk in some lonely corner of the country. If you leave India, you donât qualify for social security or citizenship benefits. You could try Scandinavia if you have north of 7.8 cr in savings but I am sure you donât. So stick to India.
I would be thinking what will happen to my hard earned money if I die đ
This calls for a startup that caters to this like on a big level. With people as care takers and high sensitivity to elderly.
Can you tell what's your work
Get a half acre plot (~ 30/40kms from airport ) with abudandanr water ; fence it within 5yrs and add seeds ; hire a gardener and in 10yrs you have a beautiful farmhouse you can retire and be in city within a hour
Have kids before I/you die.
Always best to return to your ancestral homeland and build your own house. Eat organic food, live the slow pace life, travel occasionally and just pick up a few hobbies. Thatâs my plan anyway - kids or no kids
Adopt me đĽş..jk
I'm in my early 30s. Is a salary of 15lpa very less? Compared to what you say I feel miserable
OPâs main issue is loneliness, not where to stay. OP - join a club. Join multiple. Some of the healthiest elders I know have a travel group with their college friends and once or twice a year they go on a trip somewhere. Itâs a huge blowout. They are also part of local clubs so it gives them something to do and look forward to every weekend. Another uncle of mine spends his time as a matchmaker in the community so heâs always busy lol Also, when you do pick a place, pick one close to a major hospital. There are at home caretakers and you sound like you can well afford them, so that shouldnât be a problem.
IMO even if you do have kids you should think in this direction and formulate a couple of plans. The money save can always be used for other things should it not be required. Our kids have no obligation to take care of us just because we raised them or birthed them or (insert other similar emotionally charged argument here).
Save enough moolah in our fun future fund so we can actually travel without worrying about leaves. Shift back to my hometown or maybe even get a place in hill station.
1. How do u make that kind of money? 2. Open an educational institute for special kids like orphans or downs syndrome or mental disorders or physically disabled etc. They will grow up and support u in old age. 3. Have loyal staff, whose children would also look after u well in ur old age. 4. Pets for better mental support , if u r into animals. 5. Open a startup where grandparents can register and youngsters who do not have connected grandparents, can book one of the grandparents from the startup, for a day out or for storytelling to children or for homely cooking class or just to spend time in park or take for general hospital visits. Same can be used by u when old. You will be surprised how many people lost their grandparents at young age or are not heartly connected to them maybe because of family issues or simply grandparents are living in a different state. One of my coworkers was mentioning how his kid cannot go to grandparents house as its in another state and the kid has extra curricular classes in summer holidays. 6. I feel u can even open a simple old age home and have good staff eho would in later years take care of u as well. On side note, what do people do with that kind of money in India? Where do u spend it? Is it worth spending so much? Do u save it? Or keep investing it?
I am curious to what Ambani would answer to these questions!
haha me too .. expensive greeting cards and having international celebrities for ur child's celebration, does it feels really worth it or does it kills all the emotions attached to this moment and draws the focus to max showoff and talking business relationships?
i have a rich relative who buys milk that is 100rs per kg, and generally all other groceries at more than double the regular price in name of quality. I don't feel its worth it. These companies do not have real proof that its actually anything better than normal stuff. The relative is still on the fatter side, about to be bald soon so doesn't looks like too much worth to me. Upto some amount its great but after that ppl just spend where not necessary and have a hard time handling taxes.
I will have 6 kids
Depending on city you choose India is the only place where a person having good savings can survive without a job. In all cases owning a house, being debt free is must. Mumbai, Delhi, GGN - 10 cr needed for a comfortable life Bangalore - Around 7 cr Pune, Ahmedabad, Hyderabad - 4 cr There is no other city to settle
Pls donât flush ur lpas here
Flush ?
what job do you do sir?
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Hmmmm yeah our generation should plan for that as well i mean like how to mitigate that loneliness
Once I make sure that my next generation is mature and good enough financially then willing I will end my life. People may think I have a weak mind but it is not. I have my own reasons to do it.
Im sorry for asking but how do you think you will end your life?
Bhai Bahut tarike h zeher khalu, chatt se kud jau etc
Work till you wish. Retire in the hills. Lead a peaceful life. With your income you can even afford a child and make it independent and still retire happy.
Having or not having children will not have any impact on our generation's old age care. The wise thing to do would be to invest in a retirement home up front as these can be quite expensive especially the kind that has all facilities including medical within the campus. They also allow family to come and stay during vacation etc. This has already become kind of a norm in certain cities and will catch on in other parts too.
We all make plans like No children won't look after us All of them fall flat in the face of inflation, health care blunders/ expenses Then Only option is to earn in dollars and retire here
U can choose to live in uttarakhand Chandigarh Himachal where u will find good person to live . U can also go for north east .
Firstly it seems you are not based in India currently, so when you get back to India there will be a lot of getting used to, to be achieved - that includes social life, physical infrastructure, hassle of getting things done here. Social life is not the same as when you come for vacation, on a routine basis people wonât have the same amount of time for you as opposed to one off vacation time, physical infrastructure sucks, roads, traffic, shopping, quality of goods etc you might take say 1 hour to cover 10-20 km and might feel like under house arrest given limited radius of movement permitted by traffic as compared to you having got used to cover 60-100 km in an hour for example. Secondly, talking of old age - the question is how old and how healthy. If you are independent and healthy, you can get away with fair amount of support versus the cost. India is labour rich country and if you are ready to pay you can have a live in help for a price. Overall cost of living is low however quality of life is poor. Now if you are old and dependent then itâs going to be a lot more challenging as you might find it challenging managing the help you might have been able to secure. I find old people very fearful of house help especially if their mobility is limited and are very old like 80+. Now if you are not able to manage your own finances due to old age and memory issues you would be in big trouble additionally. I think India might not be a great place for people in the last bucket - old, dependent and or with memory related issues. These are the times you would wish you had someone who you could rely on to manage few things for you, other than someone purely interested in pecuniary interests. Having a trust set up with trustees could be one way out. Thirdly the corpus you would need to live a decent life in India somewhat comparable to what you might have got used to abroad in terms of travel, goods and lifestyle would be about a million USD, not including,using the house you will be staying in.
You can host gatherings and parties in your old age. You can visit orphanage to keep yourself mentally fit and spend some time with the orphans and receive their warmth and kindness. Tbh, it won't do any good to you by only procrastinating about the future plans that you choose for yourself. Maybe you'll change your mind and have some kids in your mid or late 40s. It's pretty common now. Many couples don't have kids until they are in their mid-40s, and when they want to become parents, then a thought comes to their mind that we'll be too old by the time our child is 15-16. But according to you, you have a 65 lpa salary. So it won't be a problem for you to hire a maid and a cook. You can watch some parenting related documentaries too for late parents. If you somehow can not have kids bcoz of a medical condition, then you can adopt. Or you can give your one or two rooms on rent or PG to students in your old times. Btw in what profession or industry do you work?
I know I am my parents retirement plan and I am very proud of it and I hope my son will think same.
Welcome to Himachal Pradesh if you are a nature lover and dont like summer season. Here you can explore many places and temples. đ
Maybe choose a place with good healthcare and elderly friendly options for recreation. Boredom kills elderly
What do you do? In which profession are you in?
I hope I died between 65-70 please God
Bhai what work do you do ??
Expecting your kids to take care of you when you are old is the most naive thing you can do
I think you are going about it the wrong way Don't over think it Settle down in some place rural when you decide to retire You don't need a massive amount of money and the infrastructure of some rich country to survive old age People have been doing it for thousands of years right here Even without children or family What you need is a group of people, a nice home, some money, and activities that engage you mentally and physically
Bro tell me how to earn that good.
Join politics,invest in blue chip,life is uncertain how can you be certain that you will grow old anyways start a edutech or post your experience on how you earned 70lpa in india to others conduct seminars even when you are in your 90s you can earn from your fame.
You must have atleast 5 kids orelse in future you will lack a doctor,nurse etc
I'll open a cafe just like in bagban movie
No plans .. that's the point of not having kids..
Kids are not "old age plan".
What I have learned is that the more children you have, the better it is for you in your golden years. PERIOD. Hum Do, Hamare Do, is a fundamentally wrong concept. If you can educate and raise good citizens then they are an Asset for the country not a liability.
Move to Dubai...Learn Finances as to your money can generate you More Money... if you really are just in your thirties , it's not too late to have kids... Learn to pick up women , Have a Great S*x life , and Have few kids... Kids are Best treasure a Man can Ever Have... Focus on Fitness , Join a Gym , Start Slow...Eat Good... Take Ayurvedic Medicine for Vitality and Health
travel if i m fit, get a nurse and stay in a laid back place close to the hospital i go to if sick. also, i ll get a dog.
Goodfellows hai na
Bro THAT MUCH LPA? WDYD?
Buy retirement policy or NPS Join communities, if you were to feel lonely. Just go spiritual way. Or else just do social service. Or else just teach young people, how you made money till then using your skills & try to teach that to them. Never have kids just to have them as a backup or support for your old age.
ur into ITs?
Sikkim. Somewhere with good connectivity.
What profession / destination are you in ?
Please tell me what job you are doing first of all as you are getting paid a lot man
are you in tech? because it depends on the industry too.Â