Have you ever heard the phrase “As Rich as a Lannister”?
If you are a Game of Thrones fan, of course you have. In case you are not, please bingewatch(don’t tell us you have not heard the term! We’ll put you on a bingewatch diet!) and come back. You’ll be hooked, and we promise you’ll lose sleep till you catch up to the latest season.
If you are still reading, just spend a couple of minutes travelling into your future. What kind of life do you aspire to live? You want to travel the seven seas and see the world, or build your wealth and sit on the iron throne or just be in your cozy home living a peaceful life in Winterfell? Sure, you are in your 20’s now and free as a wild bird; You have the luxury to spend all that you earn and party all night and drink like a fish.
The only thing is, age plays catch up and new goals pop up and priorities change. Before we even know, one thing leads to another and we’ll be deep in a maze, not knowing how to exit. Maybe you’d want to settle down with your girlfriend. Maybe you’d want to buy a car. Maybe you’d want to do the culinary course at France. Maybe you want to take a year off from break and travel. Maybe you want to start off on your own.
What drives Youngistaan?
The young India which is joining the workforce has different aspirations from its predecessors. Our views about the workplace, life, relationships, dressing, saving money, gender equality – everything is radically different from that of our parents. We are more entrepreneurial, altruistic, free spirited, more likely to change jobs frequently, more likely to choose experiences over money, more likely to choose job satisfaction over high pay.
Yeah, don’t we know that? So, what’s the problem?
The problem is – Are we emotionally, financially prepared for all these changes? Are we just dreaming or we have a solid plan to actually achieve our goals? The Westeros has problems. All is not rosy in the kingdom. So, what awaits us Westeros folks?
Once the cake has been cut and the guests leave, you’ll be back to reality. Once you’re married expenses will not be (bachelor expenses * 2). It will be atleast 4 times! The initial house setup, furniture, the romantic getaways, the gifts, the car… If we’ve picked up jobs that do not pay well, marriage could spell the end of romance due to the monetary angle. Nobody is immune to that. An army of the unsolid won’t be enough, you’re gonna need those dragons.
Once we’re married, it’s only natural that we would want to build our own beautiful nest. In most urban areas, a 2BHK comes with a tag of 40 Lakhs. That could mean a huge curb on monthly available cash. Maybe we’d have to postpone the house for a few years or maybe 10. A house purchase is a big ticket and will need a lot of discipline and sacrifices sometimes.
Well all the love will naturally yield kids. Most schools in metros charge upwards of a lac for Grade 1 (Yes, while you’ve been bingewatching GoT, the education world went and made itself rich) and little Sam’s Lego boxes cost 5000 bucks. That fairy princess dress – Oh! That’s just another 5000 bucks. And diapers. And nanny. And flight fare for all of us.
Hobbies and self improvement:
Many of us have hobbies that require quite a lot of investment in terms of time or money. Hobbies like Photography, mountaineering, etc require heavy investment in gadgets. Doing a creative designing course or running a small tech project by the moonlight – all require a good amount of investment too. That Nirvana that we crave for – most of it does come with some form of sacrifice. But, money should not be a reason to step back from pursuing any desire. We should always have adequate.
Someone aptly said, “Startups are the latest guitars every college kid wants to hold”. Many see only the freedom aspect of entrepreneurship. The dark fact is, entrepreneurs pool in all their savings into their venture and go many months without a pay. Less than 5% startups make profit and sustain in the long run. If you want to play that game, your plans should be very solid.
Change in the nature of employment:
A lot of Youngistaan works in creative fields and technology. Both have their pros and cons. Some pay very less and some are very unstable. A lot of jobs are also being lost to automation every year. India lost its edge as a cost center in global IT. All these factors spell a lot of change for us. The jobs of 2020 will be very different. We may have to stash 2 years running expenses under an emergency fund.
Now these are just a few pointers. Each of us will face a different set of problems and be differently prepared for each phase.
Are you ready for all this? Do you have enough gold? Or dragons? Do you own a piece of land in the Reach or you live in Iron Island?
Follow up for the rest of the series where we’ll help you secure your kingdom, build your army, train your dragons and help you sit on the coveted Iron throne.
Because make no mistake, winter is coming.
About the author
Sourabh is the Product Lead on FundExpert and looks over development and growth aspects of the product.