MY PLAN

 

In my previous article, I mentioned that the prime duty of parents is to provide a good education for their children and to earn for their well-being, education, and other life comforts. Among these responsibilities, financial matters play a crucial role in guiding children towards financial independence. Saving money is, in essence, another form of earning.

Kautilya, in his book Arthashastra, advised that children should be treated with discipline up to the age of 18—almost like servants—in the sense that they should not be indulged with excessive luxuries, nor should they be overburdened with responsibilities. After the age of 18, however, they should be treated as friends. His perspective emphasizes the importance of discipline during formative years, which lays the foundation for a better future.

Therefore, from an early age, children should be taught about financial matters and given age-appropriate responsibilities. This will help them grow into responsible, independent adults who can manage their own lives effectively.

According to financial advisors, early earning leads to early retirement. Retiring early allows individuals to spend the rest of their lives pursuing hobbies, traveling—both domestically and abroad—and enjoying peace of mind. After the age of 50, most people naturally seek a stress-free, peaceful life.

Today, the new generation is beginning their careers at a younger age and aiming to retire by the age of 45, with a corpus fund of ₹2 to ₹3 crores. Professions such as software engineers, consultants, and bankers often offer high earnings at an early stage, making early retirement a realistic goal for many.

However, for government employees like myself, early retirement may seem less achievable. Still, with the right planning and disciplined financial habits, even government servants can work towards financial freedom and reshape their lives accordingly.

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