Understanding the importance of Effective Planning at different stages of our lives

Want to learn the right steps to planning your career and other aspects of your life? Want to know how it affects us in our daily lives? And at work too? Or better still, if you are above 45 years of age? How about planning right now for your retirement? This article seeks to provide some answers to these vital questions.


Planning is the one variable that could determine the difference between success and failure in our lives. It could mean too many good things and also help the individual to look up to live with a lot of optimism. Planning, in this article, is discussed with specific reference to a) Planning in our daily lives b) Planning in our careers c) Planning in the above 45 years of life till retirement age d) Planning for the education of children and e) Planning for the post-retirement life.

Planning in our daily lives

Picture this situation. You live in Bangalore and you are a GM(Sales& Marketing in a famous Indian FMCG company). You have a car given by the company. It would take seventy minutes to ninety minutes to reach your office, every day in the peak hour traffic. The Metro station is very nearby your house and travel by the Metro to your destination would take just forty minutes. This journey in air-conditioned comfort would give you time to plan the most urgent tasks for the day and even make calls to your subordinates, whenever required. What would you do? Apart from the common sense answer that you would take the Metro, it is also a good plan to do it every day and even spend that little extra time with your eight-year-old daughter.

Life is always a matter of choices. However, the plan to make each of these choices work to our advantage in a very organized manner is a big task by itself and requires meticulous planning. For example, your time on a holiday can be productively spent on organizing things at home. You could also spend a very useful three hours of total rest in the afternoon. Every bit of your time should be planned to pack it with activities to make it very value-adding. It is but essential that we learn to plan every single aspect of our lives. For example, a rented house also needs to take into account the planning associated with the safety of your girl child, if you have one. It is even wise to engage a driver to drop the child every day by car and bring her back home. Or you could pool expenses in this direction by involving others in your gated community or neighborhood. The scope for planning is very huge indeed.

Planning in our careers

This author has repeatedly emphasized the importance of planning in careers. For example, why emotional decisions should not be taken in careers. There has to be a very level headed kind of planning and execution. Some more vital points for success has been discussed in the article that is referenced here.

Getting a job and settling down in one is the successful execution of the first plan. More important things await every one of us. None of us can neglect the first week of our career when we need to make a big impression. Some relevant points were discussed in how to make a lasting first impression in the first week of your career

Planning in the above 45 years of life till retirement age

This author had talked about the dangers of someone losing his job after the age of 45, when a new person lands on the Management scene from the promoter family and inducts only fresh blood, throwing away all the oldtimers, in particular, those above 45, to a very young engineer, working on the shop floor, of a very famous textile equipment manufacturer of Coimbatore city, some six months ago. That set this guy, now 35, thinking. He has withdrawn some eighty percent of his savings and has invested the money in three new shops have just come up near a by the bus stop, a neat two hundred meters away from the main road. Asked to explain why the particular location was chosen, the young man, who always plans everything to the minutest detail explained that there is a danger of the main road being expanded, whereas this road had already seen massive development and was just one approach road to the vital residential colonies nearby. Thanks to his meticulous planning, he has not only become richer by six lakh rupees as an advance from those who have rented out his premises to set up shops but is also assured of a monthly rent of Rs.21,000 in his wife's name. Even if his wife, who runs a small tailoring business from home, were to show this rent in her IT returns, she would still be very safe!!

This is the kind of planning that is required today. Those who are still young would have to face the music, in two decades from now. The Government itself is showing the way. The massive recruitment of contract labor under the atrocious NEEM scheme is a real threat for anyone in the years to come. Wondering how a trainee can substitute a Manager's job? Those in the two levels below are adequately trained and empowered to do the job of the Manager. The "doer" jobs are always done only through NEEM trainees. The tremendous cost saving goes to the employer. If this Modi Government can do this, some other Government can and will do this in future too. Not only economic safety but also safety in terms of good health needs to be put in place. It is wise to open recurring deposits to finance the high cost of premiums for regular health insurance policies. It should be noted that these policies are very high even today. The cost will obviously be much more in a decade from now.

Planning for the education of children

This also requires a huge amount of planning. Very good Systematic Investment Plans with the likes of HDFC Mutual Fund can take care of future expenses. It is also vital that there should be a total review of expenses on a monthly basis to cut down on all possible wants. The education of children necessarily has to happen in the metro cities, after the seventh standard and one has to be totally prepared for this costly drill. The education in the very good CBSE schools in Chennai, for example, is setting back anxious parents, to the tune of one lakh and fifty thousand in 2019 prices. The social environment at school is vital too. It is absolutely irrational to continue your child's education in school, where the peer group belongs to the very rich class with snobbish values. Alternatively, it is wise to not enter schools where the sons and daughter's of the local political bosses study, for very obvious reasons. Each and every step needs planning. The preparation for either the NEET examination or the JEE examination has to start from the eighth standard itself. The scope of planning is limitless here.

Planning for the post-retirement life

These are days when the value of money is depleting so rapidly. So, when you are 25, you need to plan for the stage when you will be sixty. Thinking that this age is so far away, is absolutely foolish. For example, there will be a big competition to even enter the old age homes. Even the smaller towns would have become big metro cities by then. There would be Metro train services in such cities too. Water problem would be even more severe. The best option now, when you are so young, is to buy a built old house in a village that is connected to the nearest city by so many buses, demolish parts or the full house and build one independent house there. The total cost would still be less. Use that house as a farmhouse and cultivate a good garden, even now. Just organize a local care-taker to take care. For instance, a boy from a good family background studying in a local college will be ideal to just maintain the house. Years later, when you would call it a day, you can happily move in. Several such alternatives have to be very carefully planned. You just do not have any choice.


Certain aspects of planning have been examined in some detail. It will be a good exercise to examine so many aspects of our life, where planning is vital. One has to be always aware of the big changes happening around us. This will help us a great deal.


Author: DR.N.V. Srinivasa Rao12 Apr 2019 Member Level: Platinum   Points : 5

In every stage of our lives, we should plan properly so that we will have a better future. This planning should start from choosing your education path and continue in choosing your career path. These two factors are very important for a person to have a good future. Selecting the course you like and trying for a job in the field you like will make you excel in your fields. After that, choosing the right partner also is a very important aspect of our lives. If we make the wrong choice here we will have to face the music for the rest of our life. Once you get married now it will be combined planning and both the partners should think about planning their family. When you want to have the child, how many you want and as they grow older, the children's education and then seeing them settling well etc will start.
Another important point is to plan for your retirement. Going for insurance plans and pension plans and in case of an emergency and unforeseen incidents on how to protect our family from financial disasters is also very important.
A good article by the author and I appreciate his narration.

Author: Sanjeev Gupta22 Apr 2019 Member Level: Diamond   Points : 2

A good article was written by the author. It's essential to plan out our life at every stage especially when we are at the verge of retirement. Being an employee in a private sector people don't have a pension so one should work out from where to get the earning source after retirement. Its good to invest in property as that is a good option to have a rental income. These days it's always better to invest in property than in anything else.

In metro cities where everything is very costly one should save a big portion of the salary for further use. One cannot live lavishly. Private jobs are not a permanent job as there is always a risk that an employer will fire the high salaried people and appoint people with lesser salary. In such a scenario one should think of his future. There are many part-time businesses which one may think to start as once the person gets retired/fired he may fully take over the business. I have a colleague who has done like this and he has kept two employees who take orders and completes them.

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