Recently, there has been too much emphasis on savings and investment. Be it YouTube or LegallyIndia, everyone has become a guru in investing these days. To be fair, it's a great development - people becoming more and more financially literate and conscious. People are investing right from their first salary.
However, at the same time, I think there has been an overemphasis on "SAVE EARLY, INVEST HEAVILY and RETIRE SOON" philosophy. Life is not a like a treadmill where you can run for 10 years and then live off your fitness for the next 30 years. I know the unsustainability of corporate jobs and lifestyles have made us think that way but it really isn't so.
I'm 39 years old and I can tell you none of my friends have retired after 10-15 years of law firm life. Because the reason is you just cannot live without a purpose. Living off 20 lakhs that you earn as interest/profit from your portfolio with nothing else to do in life, may sound great but it isn't.
So focus your twenties on experiences, finding your niche. Take risks, spend your money, live for experiences. You may not make and save a lot of money but you'll find something that'll make you want to live your life. At that point, money won't be a concern because once you find that sweet spot - either you will make windfall money or just love your work enough that you wouldn't want to retire.
Remember, your 20-30s are the best years of your life. Save but don't sacrifice them completely in the dreams of securing a freer future which may never arrive.
However, at the same time, I think there has been an overemphasis on "SAVE EARLY, INVEST HEAVILY and RETIRE SOON" philosophy. Life is not a like a treadmill where you can run for 10 years and then live off your fitness for the next 30 years. I know the unsustainability of corporate jobs and lifestyles have made us think that way but it really isn't so.
I'm 39 years old and I can tell you none of my friends have retired after 10-15 years of law firm life. Because the reason is you just cannot live without a purpose. Living off 20 lakhs that you earn as interest/profit from your portfolio with nothing else to do in life, may sound great but it isn't.
So focus your twenties on experiences, finding your niche. Take risks, spend your money, live for experiences. You may not make and save a lot of money but you'll find something that'll make you want to live your life. At that point, money won't be a concern because once you find that sweet spot - either you will make windfall money or just love your work enough that you wouldn't want to retire.
Remember, your 20-30s are the best years of your life. Save but don't sacrifice them completely in the dreams of securing a freer future which may never arrive.