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Home > Income Tax > Help Center > How to live a better life after 50?

How to make your life better after 50?

Preparing oneself for becoming a senior citizen after the age of 50 is crucial to living a happy life.


While some of the recommendations are personal, what we have composed is based on vast experiences from our friends and families.




How to make your life better after 50?

This document covers

  1. Diet for a Healthy Life
  2. Things to follow for better Confidence
  3. Habits for a Happy Life
  4. Financial Decisions to make you Independent

1. Diet for a Healthy Life

Importance:  40%

No matter how successful you are in terms of wealth, friends, and network, none of them will bring you satisfaction unless you are healthy.

Diet is the most important factor in maintaining good health.

FOODS TO CONSIDER
  1. Fresh Vegetables
  2. Pulses
  3. Beans
  4. Nuts
  5. Eggs
  6. Cold Pressed Oils (Coconut, Sesame, etc.)
  7. Fruits
FOODS TO MINIMIZE
  1. Salt
  2. Sugar
  3. Carbohydrates (bleached flour)
  4. Milk and dairy products
  5. Processed products

2. Things to follow for better Confidence

Importance:  20%

After 50, it's time to ignore the few things that cause distance and treasure what's best for you to make you happy.

THINGS TO CHERISH
  1. Your Family
  2. Your Friends
  3. Your positive Thoughts
  4. Having a clean and pleasant home
THINGS TO FORGET
  1. Your Age
  2. Your Past
  3. Your Greatness
  4. Your Problems
  5. Your Bias (Strong Opinions)

3. Habits for a Happy Life

Importance:  20%

With the wisdom you have, it's not that difficult to adopt practices that make you happier and healthier.

HABITS TO ADOPT
  1. Always smile / try to be happy
  2. Do regular physical exercise or yoga that suits you
  3. Gardening when possible
  4. Control your weight
OTHER RECOMMENDATIONS
  1. Don't wait until you're thirsty to drink water
  2. Don't wait until you're tired to rest
  3. Don't wait until you're sick to get medical tests
  4. Have faith in God instead of waiting for miracles
  5. Never lose faith in yourself
  6. Always be positive and hope for a better tomorrow

4. Financial Decisions to make you Independent

Importance:  20%

Improving your life involves the diet you choose, the practices you follow, and the habits you adopt. However, it is equally important to make wise financial decisions to achieve financial independence to support above all.

  1. Convert 50% of assets to liquid form (or funds to support your lifestyle for the next 5 years)
  2. Build emergency fund
  3. Consider passive work to occupy yourself.
  4. Stay away or reduce your exposure from risky businesses like stocks / trading etc.
  5. Try to be financially independent
  6. Have a Will (for the assets to transition to the next generation).


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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.