My friends after retirement

 One of my friends, Mr. Rao, worked as a senior manager in several leading automobile companies. He recently retired with a retirement fund of ₹45 lakhs. Since he worked in the private sector, he is not eligible for a pension.

He has two children. His son recently returned from the USA after completing his studies and is now working in an organization with an annual package of ₹12 lakhs. His daughter, who completed her BE degree, is currently employed with a modest salary of ₹2.5 lakhs per year.

Mr. Rao set aside ₹25 lakhs in fixed deposits for his daughter’s future marriage and spent around ₹15 lakhs on his son’s overseas education. However, he also took an education loan of ₹40 lakhs for his son’s studies, which is now being repaid through the son's monthly salary.

Due to high living expenses and limited income, Mr. Rao is facing financial difficulties in his day-to-day life. As a result, even after retirement, he has decided to take up a job with an annual salary of ₹6 lakhs to support his household expenses.

I have known Mr. Rao for the past 40 years. He has always been known for his luxurious lifestyle. He used to wear expensive clothing, drive high-end cars, stay in premium hotels, and dine at upscale restaurants. His life was filled with comfort, elegance, and joy.

What’s quite striking is that his entire family also enjoyed a similar standard of living. For many years, Mr. Rao was the sole breadwinner, as his wife was not employed, and all the family members were financially dependent on him.

However, the situation seems to have changed. While his family is now settled in Chennai, Mr. Rao, at the age of 60, is working alone in Ahmedabad and relying on outside food for his daily meals. It’s somewhat unfortunate to see him leading a solitary life at this stage, especially after providing so much for his family for so many years.

My second friend, Mr. Ram, worked diligently for 40 years at Rane Engine Valves Ltd. Yet, even after such a long career, he does not own a house. He had two daughters, but tragically, one of them passed away due to cancer. Despite spending several lakhs on her treatment, it could not save her life.

His salary during service was modest, and unfortunately, his job did not come with pension benefits. Now, post-retirement, he lives in Chennai, managing his expenses through whatever retirement benefits he received. His surviving daughter is currently studying in the UK, and to support her education, he has taken a loan of nearly ₹30 lakhs

Currently, he pays around ₹20,000 per month as house rent in Chennai, which is a significant burden given his limited income.

Whenever I think of these two friends—Mr. Rao and Mr. Ram—I feel a deep sense of sadness. On one hand, it’s disheartening to see their current struggles; on the other, I can’t help but feel a sense of frustration over the lack of financial planning and long-term vision that might have helped them avoid such situations.

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