Recently Donald Trump signed a bill (The Secure Act) increasing the age at which a person should start drawing his benefits from 70.5 to 72 years of age. This just means that the American government has acknowledged the fact that Americans are living longer and working into their 70s.

In India we still are stuck on the “retirement at 58” in our mind-set. We need a mind-set change. Most Indians (men especially) do not have any hobbies. What will a man do if he retires at 58 years of age? Most of us will be fine at 60 and be willing to work (maybe 30 hour weeks) till we are 70 years of age. So 72 could be the new “retirement age” – at least in your head. In a country with such a huge young population it may be difficult (but not impossible) to be gainfully (commercially) employed beyond 58, but one should make an attempt. Many jobs like training, mentoring, counselling, running POSH committees are all very important and requires senior people to guide and help in the execution.

Do you know that there are some Mutual fund products where you are not allowed to contribute AFTER you have turned 60? Must be trapped in some ice-age for sure. Why can’t they increase the age to say 70? Well our “achhe din” requirement is that there is a sarkari regulator who decides that. Imagine..we are talking of liberalisation, but there is a baboo(n) sitting somewhere who will make that decision, NOT YOU.