What planning needs to be done if you want to retire early? Pankaj Mathpal answers

economictimes.indiatimes.com:

«So the best thing is that you should have sufficient money at your age like 50 or before that. After that, if you enjoy your work, you can continue,» says Pankaj Mathpal, MD, Optima Money Managers.What are your takes on retirement and when do you plan or you see yourself retiring? I do not think that is coming anytime soon. Yes, exactly what you said. That is a fact that I do not want to retire early because I enjoy my work.

But if you talk about the planning, definitely every individual should plan in such a way that they have sufficient money when they are healthy. See, sometimes what happens, it is not like that you cannot work beyond 60 years of age but sometimes that your health may not permit you. So the best thing is that you should have sufficient money at your age like 50 or before that.

After that, if you enjoy your work, you can continue. But if you delay it, it may become difficult to accumulate that much wealth because of longevity because of that inflation and we need money to survive for long term. And that is why planning is important.We will try to learn from you like how to plan the retirement. But a lot of young population definitely aspire to retire early. But as per your experience and as per your calculations, what is your take that people should have this much money at least in order to retire early or retire at a planned age? Then what sort of a corpus they need to be having in terms of meeting their needs in the times ahead? See, earlier you retire, the more money you need because, if for example, you retire at the age of 50 and you consider a life expectancy of 90 years, 85 years whatever so it means from 50 to 90 you need to live on that money for next 40 years.