In India, our fathers as well as grandfather's never invested for the retirement. They had a farm land asleast some of them and for them retirement earnings is only from their children. Previously people used to exhaust all their money on their children with a hope that children will take care in their old time.
PC : Pixabay.com
Same with my father too, he didn't had much but he have invested in all for our education so that we can earn, invest as well as take care of them in their old times. But times are changing now, we cannot expect the same with our children. For us we have to take care of our children as well as save for our future because we cannot rely on our children for our old age.
I know the title is not apt because that tike also some people were saving for their retirement but the percentage were small but today with FIRE as well as retire early concepts are kicking, people are investing more and more for their retirement with a hope that they will retire early. But the problem is not everyone can retire early with the salary or the income they are getting.
People who can invest 70% of their income can retire early but that is not everyone's cup of tea. Or if your investment have become 10x or more then hopefully you can retire. But again more than retirement how you plan for it matters. A lot of people are retiring early but without a plan that means they do not know what they will be doing after the retirement.
So yeah having retirement corpus is not a new concept but it is being followed mostly by young generation. And that is good too, because we do not have much of the farm land which our forefathers used to have and thus we have to rely on savings and investment to sail through the life's of ups and downs.
