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Fishes, need your honest advise - I have 40 days left with Notice period and no job in hand due only 4-5 months of relevant experience and total yoe- 3.10 years. Is there any chance I will get the job in next 40 days due to immediate joiner? Or give me referral please
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this is a valid concern, not everyone continues to work till CXO levels. the pyramid is pretty lean at top. in my case i have already started investing to prepare for retirement at 45 (i am 34 right now), if i am not fired i will quitely quit at 45 and see how long it goes on.
PS: this all by assuming i get 12% annual returns on my investments and i am able to build 3cr corpus at 45 while spouse will continue to work for 5 more years beyond my retirement.
@Citi don't act smart 3 cr is still more than enough 11 yrs later even with paying rent or mortgage
Chief
If you know your future somehow.. why don't you plan it? If you knew and you still not planned to live a good life by the time you 45, it's your mistake.
Planning can be financial- having a own place to live, saving enough for kids education etc, having a second income source. Planning also be skills wise on what you can do if you really lost a job.
I was once talking to a VP and he said if he lost his job he can always drive an uber. So be positive. If not this , we will do something different. Problem is we are attached to materialistic things and show off ego that we fear we will lose the lifestyle we have now. What big deal if I live in a smaller house and go on public busses instead of a car now. Will I a person become smaller?
So change your attitude and perspective towards life . Stop worrying about what will happen. We do not even know if we will live till then or not. Live in the moment. Be happy. Plan for a better future for your family and do best you can do. Leave rest to nature or God whoever you believe in.
Chief
Yes
The world does not end at 45. I am 46 years old..and a female. Not a part of top management....as per ageist perceptions...I should have been dead and buried by now. But I am still working...and cracking interviews. ...and there are a lot of people like me. One needs to be in a constant learning mode...willing to be a team player....forget age and embrace energy....and treat everyone with honest respect.
Agreed Mam we had a consultant with 18 yoe. I had hard time understanding her code.She was superb.
On road? Seriously? Dude, don't you plan for your future in the name of savings.
Or do you spend all you y salary lavishly??
All your*
Chief
Work on your skills.
Start freelancing and sell your skills so that later years you'll be confident in getting and completing your projects
Work on your investments
Emergency fund for 6months
20x of your annual salary as corpus
Term Insurance
Create rental property (better be commercial shop, atm kiosk, industrial)
Work on relationships, friends, relatives, they will help you in old age also enjoy your time
Work on your health. Dont compromise your health for work
Don't worry I'll hire you as intern
You can still have a job if your salary is in affordability range of a company. If you are a 40 year old developer with salary of 50LPA they can't sell you to a client to work on some new technologies. Client will say why should I pay that much for a guy who got less experience on new Tech. So in your 40s, you should always upgrade your skills and introspect if you are doing the work worth of your salary? There are many 40+ people in tech, but they are doing some leadership role which generates more revenue to company than normal developers and so they stay relevant for a company even with their high salary. Company will not have any problem to keep you if your salary is affordable for them.
Even if they fire you, you can always work as independent contractor or freelancer and earn very good money in your 40s. Why you want to work for a corporate for rest of your life. Once you have paid all the debts like home loan and saved enough funds, then you don't care about regular fixed income. As an contractor you can earn more than any regular employee.
You can become callboy
Don't. You will get STIs and warts down there.
You won't be on roads Dumbo , if you agree to work for salary equivalent to say a 8-12 yoe you should be fine!
If things go worse heck you can work as an uber/ola driver.
Rest you can join some government job!(but even government job has no pension)
Gov job is very very rare commodity.
I have CTC 18 fixed permanent work home .
Age 30 .
Yr exp : ~4 yrs IT pure big data .
With good work life balance till now .
I will spit very hard facts as i was upsc aspirant .
No read no private job except C suits one will be ever equal to total white money earn by grade A jobs considering all std promotions.
Financial advisers say we need to have 6*your monthly salary as your savings for unexpected needs. So that you can survive Easley for next 6 months and look for next job without compromising living standards and leave current company with confidence.
Me too, am starting to worry about it as I just entered my 30s, so have decided to live simple life, no useless expenses, no marriage no family, and hopefully by mid 40s would have saved enough to start a business of my own if I ever face the axe lol
@Senior Consultant
If you or we aren't capable to provide the best things to our children there is no sense in having kids especially in a savage inhospitable country like India where those having crores are only able to live a life worth of living
Keep upgrading your skills, take good care of your health and INVEST your money instead of spending it on lifestyle inflation.
Join tcs/hcl/ibm/ wipro then and retire by 60 😅 your salary will become stagnant at a stage but can take care ur day to day needs if ur investment are right in place
If you have acquired good business skills than by 45 you don't need to be worried at all. Indeed if you plan properly 45-55 can be your golden years for earning. That is the time when people do have 20-25 yrs of exp which is invaluable if you direct it in proper direction. You need to plan for an exponential income stream and for that till 40-45 you need to acquire good business skills, networking and money management techniques.
Nobody knows the future right. Don't ruin your present by thinking about future. Keep yourself updated with latest trends and technologies. Invest your money to beat inflation. Keep it simple. Don't think unnecessary things too much. Hope this helps.
What's your age now ?
@infosys2 tejaswi log spotted ?
You are earning more than 95% of Indian population. So even if you get fired , you can fallback and still bd better than 75% of Indian population.
stop worrying.
A. Find your sweet spot basis your 1. Area of strength
2. what you like working on etc.
B. Also, your salaries will stagnate at some level (will not keep on increasing for ever)
C. Everybody cant go to the top. So, your level will stagnate too. (Hence, your sweet spot is imp)
D. Work on some backup - passive incomes - interest / dividend / rent / some side project.
E. only one time activity - Visulize the worst hit and then figure out what can / will you do. (Just for planning purpose. Do not repeat this activity more than once in 6 months)
Hope this helps.
FIRE by 35-40. Don't worry about getting fired.
After retirement U can Start teaching IT on some online platform or for some institute. That's the best idea in my mind.