First Wave…Second Wave…Third?
Fear comes true for some…Opportunity of
lifetime for some. Was wondering ethics or money, what is more important? I
think ethics…till question of big money arises. Saw lot of hate worthy acts,
lot of lovable people. Ultimately people win because they become role model and
are remembered. But for sure, an experience for generations to come. Two
generations down, may be they will wonder why we behave and practice in a
certain way. We also are not realizing how much has transformed – neighborhood
behavior, social interaction, work culture, risk/ safe playing equations in
business and life, education/ evaluation, minimum needs, use of home ….
Use of home has drastically changed. Minimum
space need has changed definition. House Space and location need has become
more crisp and divided in to age groups and profession. Profession and money
making efforts have become focused on less and less risk taking. This will
reduce disposable income and change savings pattern. Ultimately will directly
impact house Buy / Rent and, size of the house.
Technology has superseded every other skill in
Demand. Huge increase in online working, trading, education, business and
social interaction. This phase of one and half years, so far, has made a sea
change in requirement of “online” services. Practically made it very clear to
everyone – either you are internet savvy or, you are outdated. May be scrapped/
erased very soon. It has not remained matter of keeping pace, it has become
matter of survival.
Housing Industry and the players – developers,
designers and suppliers of services/ goods must Upgrade themselves AT ONCE.
This time not for Luxury or cheaper. It is for being relevant and meeting
customer need. Architects need to pay attention to the changed perspective of
using home. Furniture guys need to think of work station every time they design
a house interior. Question of Buy/ Rent has become more like planning/
foreseeing your life, occupation and relevant risk. Requirement of Safe Money
has become burning portion of disposable income. Similarly, as the debt
investments/ costs have become very poor return providers, thinking real estate
is more interesting. One last thing – There has emerged a big segment that need
not stay near their work place. Work From Home. Many companies are planning to
reduce cost of work place and continue practice of Work from Home for a segment
of their work force. TCS is one of them. Such many are there. Hence, these guys
may be willing to travel long distance (as it won’t be daily basis) and hence,
little far off location may target this segment.
Let us look at a middle income group man’s old
age life as, a huge population (largest portion) of India will be 60+ soon. One
thing for sure – Retirement financial plan or, financial planning beyond good
health life has become practically – NO WAY. Look at this – if you are in
service, you will become out of market for sure by 65-70. If you are not in
luck, may be 55. If you are in profession/ business, you will have to make sure
you are not outdated and forgotten. Very difficult for a Person. The way
forward for professionals/ business guys are – royalty, dividends and, long
lasting clients’ i.e. corporate way. But again, the money sufficient to reach
80 – 85, considering inflation, is serious. Again, real estate may come to
rescue. For all above, planning has to be done when you are in late thirties.
At the most early forties. One more thing – no matter what, you have to remain
in Good Health. So, efforts have to be made in precise division of time, money
and other resources. Crazy. If you are 60 or around, you have no planning time
and your savings are not going to last long enough if, your money is not
working for you. So don’t rest on rocking chair thinking about retirement. This
is the Golden Rule of life – You will live only till you are healthy and
somehow make some money.
Start wishing in the morning that the day will
be healthy and productive. I wish you all for days ahead.
