Key Insights on Financially Secure Retirement Planning from Girish Ajgaonkar

Retirement is no longer considered as the end of one’s working life, but the beginning of a more purposeful and independent era. In an Outlook Money podcast, Girish Ajgaonkar, COO of Happiness Factory, emphasised that modern retirement planning must go beyond just finances. It is about living a meaningful life backed by financial freedom.

He noted that retirement choices often happen as a result of a burnout phase, but can also be characterised from health issues or even a desire to contribute more to society. Also, multiple challenges remain with retirement, such as loss of routine and purpose, inflation, higher healthcare costs and the fear of possibly outliving one’s savings.

Ajgaonkar introduced the concept of “Return on Life,” which encourages individuals to align money with life goals. He outlined three pillars for a fulfilling retirement: well-being, personal progress and freedom. He also explained the key financial and emotional stages that retirees go through, from the energetic years to the slowdown phase, and finally to the stage marked by increased medical needs.

For young earners, he stressed the importance of saving early, even in small amounts, and investing in equities to benefit from India’s growth story. In the end, everything that contributes to a happy retirement is purpose, relationships, health and financial security, with money just being an enabler.