Freedom Is The Real Measure Of Success, Says Ankur Warikoo

Author and entrepreneur Ankur Warikoo delivered deep and personal reflections on mindset, money, health and living at the fourth edition of Outlook Money 40After40 event in Mumbai.

Addressing a diverse audience that spanned from people in their 20s to individuals above 40, Warikoo set the tone in the beginning itself, how this session was not going to be another textbook personal finance lecture. Instead, it was a candid reflection on life’s inflexion points, which are particularly the psychological and financial shifts that usually happen around the age of 40 for individuals.

Warikoo, who is now 45 himself, described how the 40s are a decade when multiple realities converge at once. Parents begin to age visibly, and children enter their teenage years and become their own person. Careers are also often at peak, driving in better and higher incomes, larger responsibilities, and bigger financial commitments. This is also a time when people are left behind in the journey called life, which is stated as “That’s when life begins to feel like a crisis.”

There is no guide or manual to manoeuvre through your 40s, and yet, it is perhaps the age that is the most demanding of clarity.

The Age-39: Wake-Up Call

Warikoo shared his pivoting personal story, where at 39, he stepped down as CEO of his startup. The company was doing well and was venture-funded. On paper, he was a millionaire, holding approximately 10 per cent equity in a company valued at around $200 million. But in reality, he had almost no liquid cash. This was followed by 2020, the year of lockdown. Suddenly, his consulting income was wiped out, and he had a runway of just a couple of months, which was enough to cover equated monthly instalments (EMIs), children’s education, parents’ expenses and daily living costs. He described the period as one of deep introspection, even contemplating moving to the mountains to reduce costs. Things eventually stabilised. The house wasn’t sold. Income streams returned. But the experience left an indelible lesson.

His realisation was simple, “Money’s real purpose is freedom — the choice to work or not. Most people, no matter how wealthy, don’t have that choice. They have to work. That’s not freedom.”

He admitted that growing up with limited resources, his relationship with money was on a bit of a roll. “And the biggest mistake I made growing up poor was hating money. I disrespected it. That was wrong. Money is not for buying stuff; it buys choices.”

For the young attendees, his message was clear: design your life intentionally, and early. It becomes exponentially harder and more confusing to correct later in life.

Health: The Body as the Ultimate SIP

The second pillar of the conversation was his piece on health; here too, he spoke from his lived in experience. Fourteen years ago, Warikoo was diagnosed with a condition that had tied him to bed rest for three months, five months on crutches, and nearly two years in pain.

Later, at 33, he set goals for himself that required him to discipline himself, from eating habits, training, adequate sleep and very structured routines. He achieved it. And again at 43. He claims health is not about aesthetics, but about agency.

“Fitness demands discipline. Nobody else gets credit. You do. Also, people respect disciplined individuals subconsciously. They know it’s hard. After 40, medically, you lose 3-8 per cent of muscle mass every year. If you don’t train, you’re literally beginning to decline. Walking isn’t enough — strength training matters. And your 20s can be misleading. Health neglect shows up later. Please invest in your body the way you invest financially. That SIP maturity depends on this body.”

Relationships and the Mathematics of Time

The third dimension of his talk had moved from spreadsheets and gym routines to something far more interpersonal: relationships and regret. As people move into their 30s and 40s, self-awareness sharpens. Motivations are clearer, and regrets are also beginning to surface.

Warikoo shared a remarkable thought, “In the end, all that matters is whether you can say you truly lived your life. Nobody will remember your phone model, your car, or your designation. They’ll remember how you made them feel. Every big decision I make, I ask: when I’m dying, will I be able to say, “Maine zindagi jee li”?”

He offered a sobering calculation: many in the audience might see their parents only 10-20 more times in their lifetime. Children might leave home within five years. Partners have finite shared time. One should not accumulate too much regret. Living intentionally — rather than reactively — is the antidote to regret.

Bringing the Pillars Together

Warikoo concluded his session by weaving together the three pillars of his framework:

• Money must be respected and used as a tool for freedom, not ego.

• Health, both physical and mental, is non-negotiable and requires disciplined investment.

• Relationships must be nurtured with awareness of time’s limits, so that life is lived with minimal regret.

He urged those in the audience to map their responsibilities honestly and reminded them that the perceived financial burden is much heavier in their mind than it is in reality. Freedom, on the other hand, is much closer to what people want to be. They just need to align their expenses with their values.