Increasing income in retired life

Pension | admin | May 7, 2011 at 8:12 am

In the normal course, retirement translates to a reduced or no income. In the case of Bhiwadi-based Ashok Gangopadhyay , this rule has been brazenly defied. Ever since he quit regular work, Gangopadhyay's income has surged. More than serendipity, this rise can be attributed to his own financial savvy.

After working for 18 years with a Delhi-based real estate company, the 66-year-old Gangopadhyay retired as marketing head in March this year. However, instead of slackening, his life and career have picked up pace. For now, Gangopadhyay works for more than one company, offering consultancy and charging around Rs 5,000 per hour. "I make around Rs 5-6 lakh per month, 40-50% more than I used to before retirement," he adds.

"The retirement age at this company was 65 years and even though they didn't want to relieve me, I quit. The management, however, decided to re-hire me as a consultant," he says. This time, he joined on his own terms, deciding to provide consultancy to other companies too. "I am also in talks with a couple of more realty firms in Delhi," he points out.

Not all career transitions have been as seamless or as facile for Gangopadhyay. His professional life began in 1966, when he joined the Indian Army . For the next 25 years, he served in places like Jammu and Kashmir and various parts of the Northeast, till he was finally posted as a commandant in Delhi in 1991. "However, around this time, my wife was detected with cancer and I wanted to take care of my family. So I sought voluntary retirement," he explains. He informed his family about the decision only after quitting, he says.

It wasn't easy to find another job at 46. "So, for two years, I took up work at the Indian Institute of Security and Safety Management ( IISSM ., in Delhi. The job involved providing security consultancy to corporate houses and organising seminars for them. However, it wasn't something I enjoyed doing," says the sprightly man.

Then a family friend informed him of a vacancy for the post of manager in an upcoming realty company. Gangopadhyay's army backround helped him land the job as a manager. His job was to find customers for their realty projects. "It was a new area, but having been in the army, I was open to all kinds of challenges," he says. What helped him secure customers for his new employer was the contacts he had built during his two-year stint at the IISSM. He had access to top officials of various companies, which converted into buyers in the real estate projects. Soon, the company promoted him as regional manager and, finally, as vice-president (marketing). "I was part of the decision-making process. We came up with some new concepts, such as the retirement resort at Bhiwadi, which became quite popular," he says.

Five years ago, Gangopadhyay shifted from Yamunanagar to the same retirement resort in Bhiwadi that he had helped conceptualise and currently lives there with his wife. He took the decision to shift because his work required him to travel a lot and his wife, who was not keeping good health, would be looked after well at the resort. Now, Gangopadhyay works for about six hours a day, supplementing the consultancy work with writing. "I write on various subjects, such as sports, social issues and realty. In fact, many of my articles have been published in newspapers," he says.

As for the future, Gangopadhyay plans to create a system which will make working in real estate companies more transparent. Given his tenacity, he is bound to meet with success.

Source: Economic Times