Retirement planning: It’s better to be roughly right than precisely wrong
- To avoid running out of money in retirement, one is advised to follow conservatism.
When the Chandrayan-2 lander crash-landed on the moon’s surface in 2019, ISRO scientists had their task cut out—to make Chandrayan-3 a success. They achieved this in 2023 when it landed successfully. However, we don’t always get a second chance, and we need to get it right the first time, especially when it comes to retirement planning. Because one might not be able to resume work in their retirement years, and by then, it might be too late to recover from the perils of a low retirement corpus.