Who Says Retired Life Can’t Be Adventurous?

Sunil Kumar, 71, may come across as just another gentleman in the neighbourhood spending his retirement years in comfort. But don’t let that gentle charm beguile you. He is an adventurer by heart and his lifestyle is anything but sedentary. In fact, he leads a very active lifestyle, taking part in marathon cycling events and treks.

It all began in 2016 when at the age of 63 he was cajoled by his daughter and son-in-law, both active cyclists, to take up cycling as a hobby. They also gifted him one, and a few years later, in 2019, just before retiring as an associate professor from Delhi University, he decided to take up cycling as a serious hobby.

“I told them I can’t do it. I was hesitant. When they gifted me a cycle, I had two options—ride it or hang clothes on it. I chose cycling. I started cycling in my society first, and when my stamina improved, I went to other places,” says Sunil.

Now, Sunil, who originally hails from Nainital, has three cycles—Road, Mountain, and Hybrid bike versions. Besides cycling, he is also into trekking now. And it’s serious business not a casual sport. His accolades include the Super Randonneur (SR) honour for long-distance cycling, which is given to individuals for cycling 200, 300, 400, and 600 km, and more, by Audax India, affiliated to French Cycling Club Audax France, and high-altitude treks to Adi Kailash, Om Parvat and Everest Base Camp.

Flashback

Sunil became adventurous only later in his life. During his working life, his financial life and retirement planning strategy was similarly sedentary. However, it is important to start planning for retirement earlier in life with a mix of aggressive and conservative instruments. Sunil, however, invested only in the Employees’ Provident Fund (EPF), a secured debt instrument, during his working years to build a stable retirement corpus.

He says: “I just wanted my money to remain secure and did not look for different avenues. We would get 12 per cent, and I thought it was a good return. Even when the government reduced the rate to 8 per cent, I found it reasonable. I was not ready to take risk, so I invested only in EPF.”

He thought he was on the right track as many of his colleagues also did the same. “We managed our needs with whatever salary I got. My wife never asked me for anything. I don’t remember buying her gold or other ornaments. We kept our desires in check, and my wife managed the family well within my financial means; it always felt more than sufficient,” he adds.

Falling Into place

Cash Flow: In retirement, one pillar of support for him is the fact that he had a pensionable job. However, initially, Sunil did not get pension due to administrative issues. So, they lived on a strict budget for about two years after retirement. When the pension finally started coming in, it was a big relief.

But there was a change in how he started handling his financial life. Just like he embraced adventure activities later in life, he changed his investing strategy too, and built a diversified portfolio after he retired. In consultation with his family, including wife, son, daughter, and son-in-law, he has diversified and invested his retirement corpus across post office small savings schemes, mutual funds and gold bonds.

Like most people his age, he is not tech-savvy and depends on his children for digital transactions. He believes in physical banking and keeps a debit card only for emergencies. “My children can check my account details online, but I have to go to the bank because I am not comfortable using cards, UPI, or online banking,” he says. But that hasn’t posed any problems in his financial life until now.

Healthcare: Sunil says trekking helped him quit smoking, something he had been struggling to get rid of since long. “They asked me to stop smoking when I joined them. It was their only requirement. I said I would quit, but they didn’t believe me and asked me to inform them of the progress over the next six months,” he says.

Sunil kept his word. He walked 10-12 kilometres daily from his house to the college to improve his endurance and stamina before undertaking his trekking expeditions. While government employees and their dependants, subject to certain conditions, are also eligible for a medical cover for lifetime under the Central Government Health Scheme (CGHS), thanks to his active life, he hasn’t needed it yet.

“I have used it only for my wife, who is a diabetic, until now,” says Sunil, adding that healthcare expenses should be a major area in retirement planning.

Life Advice

When one of his brothers died a few years back, Sunil realised the importance of writing a Will, and plans to do it soon.

Another thing he firmly believes and advises his children is that the principal amount in any investment, whether it is high-growth or otherwise, should be safeguarded.

For him, relationships, ultimately, are more important than money. “You should have enough to meet your basic needs. Beyond that, I don’t give too much value to money. I feel relationships are more important,” says Sunil.

He is financially independent now and has travelled with his family to the US, Turkey, Thailand, Dubai and Canada. Next travel destinations in line are Singapore, Vietnam and Gujarat in India.

Sunil also believes that one should have a purpose. He, of course, has found his calling: to pick up the cycle whenever he is in India.

versha@outlookindia.com