What is retirement? and what age should it happen? Is retirement an age or a sum of money?

These questions bug everybody who is atleast 32 years of age. Why 32 years? Simply because it takes 2-3 years for the mind to accept that you are no longer in your 20s!

So suddenly you wake up to the rude reality of  ‘retirement’. Retirement can be defined in many ways. For some people it is the end of a journey. For many others it is the beginning of  journey. Largely it means life has reached a stage when you can do ‘what you want to do’ than doing ‘what you must do’. To many people it is the financial freedom to choose between a ‘job’ and a fun activity. It is the choice of going to office happily with a smile on your face instead of worrying whether your boss can sack you. It is the sheer financial freedom.

It normally happens at a particular age – and the age depends on your profession. If you are a gymnast you retire at age 17, if you are a tennis player you may retire at 32 years, a cricketer at age 35, a practising doctor at age 70, a lawyer at age 75 and a politician at age 93! A business man can choose to retire at any age as he chooses, however, the physical health may not allow him to work beyond 65 years! So largely retirement is a function of age and the strength of the human body to work.

So if a gymnast can qualify as a doctor and then become a politician he can really work long! On a serious note, the end of a corporate job happens when the calendar says your age is ’58’ – as per your birth certificate, you need to retire. However retirement can come any time depending on your health condition and on the economic conditions prevailing in the economy. If you are working in a growing economy with a large young population – there is likely to be a tough fight to get into the job market if you have been asked to take a break!