Kanwar Khalid Ali Khan
After reaching the age of seventy and achieving financial freedom, a person enters a new phase of life. This is a time when material needs diminish, allowing the individual to focus on setting new goals for personal growth, family well-being, and contributions to society. In the lines below, I will discuss how failing to set new goals after achieving financial freedom not only wastes an individual’s time but also results in the loss of millions of collective hours in society, leading to a significant reduction in productivity.
- Spiritual and personal development:
One of the most important aspects of life after financial freedom is spiritual and personal development. With material concerns no longer a priority, this time can be used for reflection, spiritual journeys, and finding mental peace, adding depth to life. This is also an ideal time to focus on self-awareness and personal growth. Spiritual activities, like meditation or religious practices, allow individuals to reconnect with themselves and find deeper meaning in their existence. By reflecting on the journey that brought them to financial freedom, individuals can also plan how to use their remaining years in ways that benefit not only themselves but others too.
- Setting new goals:
If individuals do not set new, purposeful goals after financial freedom, they waste precious hours of their lives. At seventy, time is the most valuable asset, and it should be utilized for meaningful activities like social welfare, strengthening family relationships, or sharing knowledge and experiences. When an individual wastes his valuable hours, it doesn’t only affect him but also the society he is part of. If millions of individuals in their later years fail to engage in meaningful work, it results in the collective loss of productive hours, diminishing societal progress. Time that could be invested in mentoring younger generations, volunteering for community services, or contributing to important social causes gets wasted.
- Collective time wastage and its impact:
When a financially free individual at the age of seventy wastes their precious hours, they are essentially squandering societal resources. The effects of this are far-reaching. For instance, if millions of elderly individuals do not utilize their time purposefully, it results in immense time loss which could have been used in social, educational, or philanthropic endeavors, contributing to society’s growth and development. Wasting this time creates a domino effect, fewer role models are available to guide the next generation, and fewer hands are involved in solving pressing social issues like poverty, inequality, and education. When this demographic, which has both the wisdom and the financial means to make a difference, becomes inactive, the entire society loses out.
- New goals and social progress:
Rather than wasting time, setting new goals is crucial after financial freedom. This time can be invested in social welfare, knowledge sharing, or planning for family legacy. These are all meaningful uses of one’s time that benefit society as a whole. Elderly individuals possess vast experience and a lifetime of skills that could benefit the younger generation. By setting goals around mentoring or establishing philanthropic ventures, they can make a significant impact. People, after achieving financial success, dedicated their time to philanthropic work, impacting millions of lives positively worldwide. Additionally, financial freedom opens the door for elderly individuals to invest in long-term community projects, such as funding educational scholarships, supporting health initiatives, or starting foundations that continue their mission long after they are gone. Such initiatives not only ensure a lasting legacy but also contribute to the long-term welfare of society.
- Political and social influence:
After financial freedom, one can use his time to gain political or social influence. By managing time effectively and investing it in purposeful endeavors, one not only strengthens his or her identity but also contributes to societal development. These efforts can have a trickle-down effect, inspiring others to get involved and creating a ripple of positive change. Nelson Mandela became the President of South Africa after the age of seventy and continued to achieve great success even in his later years. His political and social impact was profound, demonstrating how age and experience can be used as tools for societal betterment. Similarly, in the modern era, many individuals have entered politics or advocacy work in their later years, bringing wisdom and experience that younger counterparts may lack. This infusion of elder leadership in key societal roles ensures that important lessons from the past continue to influence future decision-making.
6. Wasting time is a collective loss:
If elderly individuals across society waste their time in non-productive activities, the entire society suffers. Millions of valuable hours, which could have been spent on educational, philanthropic, or social development, are lost. This collective time loss diminishes a nation’s productivity and hampers social progress. The total time wasted by elderly individuals who are not contributing to meaningful activities could otherwise be used to run mentorship programs for young entrepreneurs, teach in community education centers, or lead environmental initiatives. Such activities would not only fill a gap in social services but also increase the overall well-being of the community. In economic terms, the productivity lost through inactive elderly individuals also translates into lost opportunities for the economy. Research shows that elderly individuals who continue to engage in work, volunteerism, or entrepreneurship often help in driving innovation and creativity, as their life experiences give them a unique perspective on solving problems.
7. Personal satisfaction and social legacy:
By setting new goals and using time for meaningful work, individuals also gain personal satisfaction. This is not merely about staying busy but about feeling fulfilled, knowing that their contributions have a lasting impact on society. It gives a sense of purpose in later life, which is often crucial for mental and emotional well-being. Leaving behind a social legacy is another powerful motivator. The actions taken in these final decades can cement a person’s role as a leader, mentor, and benefactor, ensuring that his name lives on not just in family history but in the broader narrative of their community or country.
8. Creative and intellectual engagement in later life:
After financial freedom, there’s also an opportunity to delve into creative and intellectual pursuits. Many individuals choose to write books, give lectures, or engage in creative arts. These activities not only provide personal fulfillment but also contribute to cultural richness and intellectual capital for society. Similarly, academic contributions, such as researching and publishing papers or giving talks on topics of expertise, can contribute to the pool of knowledge and inspire others in the academic and professional worlds.
9. Economic impact of elderly engagement:
Engaged elderly individuals have a significant economic impact by remaining active through part-time work, volunteerism, or entrepreneurship, contributing substantially to their local economies, in terms of participating in the workforce or offering their services. They help alleviate the pressure on social services and provide value through their accumulated knowledge. A number of elderly entrepreneurs have started successful businesses, leveraging their experience and networks to create jobs and drive innovation all over the world. With financial freedom, they were better positioned to take risks and pursue ventures.
