Retirement Panic at 45 - A Lesson for Every 20-Something

 

A Saturday evening. Three friends Hrishi, Rohan, and Kaustabh are sipping cold coffee at their usual hangout spot.

Hrishi: You look unusually thoughtful today, Rohan. What's cooking?

Rohan: (laughs) Nothing too dramatic. Just overheard Dad and my uncle talking about one of their clients, around 45 years old, and he has barely saved anything for retirement.

Kaustabh: 45?? And no savings? That’s scary. Imagine being that close to retirement and starting from zero.

Rohan: Exactly! Dad said the guy was panicking. He finally “realised” he needed to save. But all those years of delay cost him the one thing money can’t buy - time.

Hrishi: Time really is the real magic, isn’t it? Compounding basically rewards the people who start early.

Rohan: True… but Dad also said something interesting. He told the client, “Late is not lost. What matters is how you optimise from today.”

Kaustabh: I like that. So what would someone who’s starting late actually do? Doesn’t it feel overwhelming?

Rohan: Of course it does. But Dad listed some action steps that sounded practical. First, budgeting. Track where money actually goes. Until you know that, you can’t redirect anything towards savings.

Hrishi: Most people don’t even realise how much they burn on unnecessary stuff -  subscriptions, takeaways, luxury impulse buys…

Kaustabh: (smiles) Don’t look at me.

Rohan: (laughs) Second, tackle high-interest debt. It’s like a silent thief. Every rupee paid in interest is a rupee taken away from your future.

Hrishi: Makes sense. Clear debt, free up cash, then that cash becomes savings.

Rohan: Exactly. Then step three - boost retirement savings intentionally EPF, NPS, SIPs in mutual funds. Automate it so savings happen like clockwork.

Kaustabh: And investing doesn’t need a genius IQ, right? Just simple index funds or diversified mutual funds, low cost, long term.

Rohan: That’s what Dad said, invest smarter, not harder. Fancy doesn’t necessarily mean better.

Hrishi: And lifestyle changes don’t have to mean being miserable. Reducing expenses ≠ abandoning life.

Kaustabh: True. I’ve realised how many fun things are actually free. Parks, cycling, movies at home… You don’t need to “buy happiness”.

Rohan: Plus, side income is a game-changer. One gig can become the bridge between “late start” and “comfortable retirement”.

Hrishi: Wow… So even if someone starts late, it's still possible?

Rohan: Definitely. Dad said something that stuck with me “You may not have time on your side, but you have experience, stability and higher income. That is your advantage.”

Kaustabh: That’s powerful. The whole game is start now and stay consistent.

Hrishi: Let’s make a pact, none of us should reach 45 and realise we forgot to take care of our older selves.

Rohan: And while we’re at it, let’s also make sure every youngster we know - cousins, juniors, siblings, friends understands this early and never lands in the same situation.

Kaustabh: If we learn this lesson in our 20s, the least we can do is pass it forward.

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