Though the Vedas divided our lives into four ashramas or stages of that of a student, a householder, a retiree and a renouncer, our lived reality breaks it down to three — the learning, earning and harvesting stages. The first 20-25 years of an average life are spent in learning to earn. The next 35-40 in earning and the rest — it can go up to 40 years — in harvesting from the earning years. While there are exceptions to this norm, for most people, the middle 30-40 years are the crucial years — for not just asset creation for retirement , but also meeting pre-retirement financial goals like buying a house or getting kids through college. The early retirement dream that social media influencers have sowed sometimes forgets to fully account for the twin impacts of inflation and longevity. The middle years are all that those who did not inherit wealth have. They must make them count.

Though the Vedas divided our lives into four ashramas or stages of that of a student, a householder, a retiree and a renouncer, our lived reality breaks it down to three — the learning, earning and harvesting stages. The first 20-25 years of an average life are spent in learning to earn. The next 35-40 in earning and the rest — it can go up to 40 years — in harvesting from the earning years. While there are exceptions to this norm, for most people, the middle 30-40 years are the crucial years — for not just asset creation for retirement , but also meeting pre-retirement financial goals like buying a house or getting kids through college. The early retirement dream that social media influencers have sowed sometimes forgets to fully account for the twin impacts of inflation and longevity. The middle years are all that those who did not inherit wealth have. They must make them count.

As a student, the biggest desire is to break the chain of adult control. The pursuit of higher studies is done with one eye on their earning potential. Most young adults can’t wait for the day when they will begin to earn. The learning is mostly geared towards earning.

While career choices will impact the earning potential, it is during the earning years that the consequences of decisions will impact the rest of your life. Other than life calamities, the biggest threat to your future is the dream of an early retirement sold by the digital dream factories who showcase their five-star lives as the outcome of some smart investment or start-up they did and now live the good life of travel, luxury and leisure. One question you should be asking is — if indeed they made it big, why are they still working so hard? What happened to early retirement?

There are enough 20-something start-up crorepatis in India who are not stepping off the stage. They are just growing their businesses, rather than liquidating and living off their money for the next few generations. The dominant force of nature is growth. Whether it is a seed that grows into a tree or the expanding universe or human progress, growth is fundamental to creation. Quitting work in your prime years is tantamount to stifling your growth potential.

There are three enemies you will face in the early retirement journey.

One, inflation. If you quit work at 40, you must plan for 60 years ahead. Other than a thin slice of the super privileged, most of you are underestimating the harsh bite of inflation. If at 40 you are spending ₹12 lakh a year, at 60 you will need almost ₹32 lakh a year at just 5% annual inflation. At 80, you will need more than ₹84 lakh a year. Whatever your expenses, double it every 14 years at 5% inflation. Build in a few years of higher inflation in the middle and your best laid plans will catch fire.

Two, long life. Young adults find it difficult to see themselves as old in the future. Today, they cite the climate crisis, wars and other global calamities as reasons why they don’t plan for the future. The world will end after all, they say. But what if it does not? What if you are 60, without assets or fresh income, and the world is still spinning. And now you might have bad knees and high blood pressure. Add to this the impact of better food and medicine. The average life expectancy in India has risen from 32 in 1947 to around 72 today. Many of you will live to a 100. Remember, the people selling you the dream of stepping off your career are either super rich or aim to get there by getting you to pay for it either through your course-fees or advertising time-spend. For an average middle-class person, the only asset you have is your 35 years of human capital that you will use to live today and tomorrow.

Three, peer group progress. You step off work and strum a guitar in Goa for a bit in rubber sandals and shorts. You get a sunburn, no audience and playing the guitar everyday becomes work. Meanwhile, your batchmates are now at the peak of their careers with all the material good life markers. Unless you have truly internally reached the fourth ashrama — of sanyas or renunciation — the difference of lifestyles and choices will rankle.

Before you make a choice for an easier workload or plan for an early retirement, remember that the 50s is your highest earning decade of life. You will be at the peak of your career with salary at its highest. Some of you will be in the positions you see your current super bosses at — just remember not to become those who you dislike today!

The good news is that the 30-40 year earning stage is enough to not just live well today, but also to prepare for the next 30-40 years. You only need to make these years count.

Monika Halan is the best-selling author of the Let’s Talk series of books on money. The views expressed are personal