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The Significance of Number 8,000 in Retirement Planning

If we think practically, you’ll realize that retirement is not as brief as we generally believe. Read this post for an innovative take on retirement planning.

  • Nov 30, 2021


Most people think of retirement as a short period before the end of an eventful life. But think practically, and you’ll realize that retirement is not as brief as we generally believe. Read this post for an innovative take on retirement planning.


If you were asked to visualize your retirement years, you might imagine vacationing, indulging in new hobbies, and spending fun filled days with your grandkids. But is this all there is to retirement?

Traditionally, retirement is thought of as a short period before the end of an eventful life. People think of it as a brief chapter of life where they could relax and enjoy everything they could not during their work life. This belief guides their retirement planning as well.

However, this conventional view needs to change and change fast to keep up with the changing times. Here is a modern approach to retirement planning-

Retirement Is NOT as Brief as People Imagine

If we consider the average life expectancy to be 80-90 years, we can divide it into four segments of 20-22 years. Convert this into days, and we have four segments of around 8,000 days each. Retirement generally begins around 60 years and lasts till the end.

In other words, your retirement years will make up for at least one-fourth or 25% of your life. By no means, 25% of the total life can be considered a short period.

Planning for 8,000 Days

When you start saving and investing for your retirement, don’t think of it as something that will only last a few years as it can be as long as 20-25 years or even more.

Unlike segments between 0-20, 21-40, and 41-60 years, where most things are already mapped out by traditions and society, the guideposts are often fewer in the retirement years. And with the rising inflation and life expectancy, one needs to be very meticulous and practical about retirement planning to ensure that they are actually able to live the retirement of their dreams.

How to Plan Your Retirement?

If you are currently working and want to save and invest for your retirement, understand that you are working towards a period that could easily last 8,000 days or more. With this in mind, here are a few tips to help you plan your retirement-

  • Start Early
  • When it comes to investing, time is the key. It is always better to start investing towards your retirement when you are in your 20s and 30s. In the longer run, a difference of even a few years could have a significant impact on your retirement corpus.

  • Calculate the Retirement Corpus
  • You can start with calculating your current annual expense and then multiply it by 20-25 (as retirement could be this long) to reach your retirement corpus. Make sure that you also consider inflation for this calculation.

  • Choose the Right Investment Options
  • There are now many different investment options available in India. But if your goal is retirement planning, something like a pension plan is highly recommended. With these plans, you can pay a fixed premium throughout your working life and receive a steady income for lifetime after retirement.

Planning for the Second Innings of Life

While planning your retirement, it is essential to ensure that your wealth span is as long as your lifespan. Rather than assuming that your retirement years would only last 5-10 years, think practically as it could be as long as 8,000 days or even more.

Start investing towards your retirement from an early age and invest in smart products such as annuity or pension plans so that you can enjoy your retirement years just as you’ve always imagined.

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Kotak e-Invest

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Ref. No. KLI/22-23/E-BB/521


- A Consumer Education Initiative series by Kotak Life

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