If a life of respect and dignity is important to you,you must take good care of your hard-earned money and health-THIS IS VERY VERY IMPORTANT. In other words,you must save every month a pre-determined percentage of your regular income and also be in good health to use this saved money,should a need arise.I would be honest in telling you that i could never form this habit in my long career and have paid a very heavy price for this.Hence, i thought of sharing my thoughts with you all,so that you dont become a victim like me and are not caught on the wrong foot at your prime age.

We are not talking here about savings in a conventional sens but in context where its definition and scope have changed and i would like to present it for all those people,who may not be aware about this new realities.Saving money does not necessarily mean securing your  post-retirement period.

Days are gone when people use to have a smooth and on time retirement from the job at the age of 60 or so.In the present industry scenario,people are being asked to put up their papers at the prime age of 40,45 or 50 for different strategic reasons,when your family responsibilities are at peak or likely to be at peak.To give you an example,i know a young and bright software engineer who after working in infosys for 12 years,moved to IBM in 2010.He had a very distinguished career both at Infosys and and IBM.But to his surprise,he was recently asked to put up his papers at the prime age of 42 when he had a major family responsibilities.Since he was young,he had not saved money.There are many such cases to have happened in last few years and i am aware of them.This kind of emerging scenario is a warning to all of us that we should be prepared to face any unforeseen loss of job at any given time.


1-Save money to the extent possible,while we are in job.

2- Have a ready backup plan in case of sudden loss of job.

WE should come out of  that mindset that there is no hurry to save money at such a young age and you can always start saving money at a later need to tell yourself that what you save today will not necessarily be required by you after your superannuation or retirement from the job.You may need your savings at any time.because misfortune do not come to you knocking your door.

ANY THING CAN HAPPEN ANY TIME IN YOUR LIFE-this is life must accept it and take measures in advance to have a ready backup plan for the survival of your family and you.

I would like to tell you about another person who was a senior corporate manager in a reputed company and had a track record of star performer.Due to company’s average age policy,he was suddenly asked to put up his papers.This sudden loss of job came to that senior manager at a time when he had taken home loan from the bank and was  paying Rs 35,000 Monthly EMI. This sudden stoppage of monthly income left him high and dry.He did not have any back up plan.He somehow pulled up his resources to pay the home loan for next 2 years but ultimately,had to sell his two prime flats to pay off entire bank loan.He had also not saved enough money to effectively handle this crisis.What happened to that senior manager is anybody’s guess.







4 thoughts on “SAVING-AS WE SEE IN 21st CENTURY

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