With little job security, Indians run in their forties a financial struggle

Copyright © HT Digital Streams Limit all rights reserved. Ray Dalio, the billionaire hedge fund manager, described the phase when a person turns 40 as the ‘Midlife squeeze’. Summary Thousands of Indians in the late thirties and 40s are junking monthly payments, their children’s education and outdated parents’ healthcare in a very uncertain labor market. Mint talked to a few to find out what the experience they learned. When the price of crude oil became negative during the Covid pandemic, 42-year-old Kunal Sharma (name on request changed), started planting mushrooms in his Gurugram apartment to make money. The father of two, whose mother underwent dialysis, worked for an oil company and was worried that he would be fired or a salary reduction in the face when the firm began to cut the costs. Eventually, Shamra sustained a temporary wage reduction, which was not too bad, as his wife also earned a salary. However, he gained valuable first -hand experience of the fragile labor market. Sharma is one of the many Indians in the late thirties and 40s who juggles monthly payments, their children’s education and outdated parents’ healthcare in an uncertain labor market. He pays £ 25,000 a month for child education, and another £ 40,000 for the salaries of the slave and manager, apart from other household expenses. His mother’s hospital expenses are covered by insurance. “I was a specialist in my job, but I was afraid because I had no other skills outside my industry,” says Sharma, who did everything in his power to soften if he was ever fired or got a wage reduction. He decided to learn new skills by enrolling for a program run by Stanford University, which helped him switch from the oil industry to solar and new energy. He is now Vice President of Engineering and Innovation at a Conglomerate. Despite bringing home a big salary, Sharma knows the vagaries of the labor market all too well. ‘Discharge is a function of the industry and the skills you have. You have to get both things right, ‘he said. He bought two apartments in Gurugram with loans and rented them to build a pillow if the suns industry saw mass dismissal. Rent at these apartments currently occupies almost 30% of its expenses. In this story, the third in Mint Money’s series on the developing labor market, we talked to three people in the late thirties and 40s who juggle their children’s education and outdated parents’ healthcare to find out how they navigate the gloomy labor market. Creating a buffer Ray Dalio, the billionaire hedge fund manager, described the phase when a person turns 40 as the ‘Midlife Squeeze’. In a video on his YouTube channel, he calls it the hardest part of life, which people can make or break as they should rejoice and work. Abhishek Kumar, a registered investment adviser and founder of Sahaj Money, said people in this age group should invest as much as possible, live within their ability and not accept too much liability to prevent them from falling apart after losing their jobs. Although Gothi interrupted his sips, his wife continued her, and their son began working in 2025 after completing the engineering college, which alleviated their financial burden. Although the new studio took money from his portfolio, the shares of his family and mutual funds have been net positive since he lost his job. “I always wanted to open a studio, but never got the time and bandwidth. When I got out of my work, I could do the thing I always wanted to do. But this soul-seeking could not have happened if my finances were not in order, ‘says Gothi, adding that the studio can now function on semi-autopilot. He is now looking for the right opportunity to re -enter the labor market, this time with a passive income on the side. “If I hadn’t planned well, I would have been forced to take any work that came my way, even if I didn’t like it.” Harssh Roongta, a registered investment adviser and founder of only fee investment advisers, strongly recommends that people buy health insurance for their parents in the late thirties and 40s, as the cost of the hospital may rise. “If your employer offers insurance, take it, even if it is expensive, as claims are smoother and acceptance is guaranteed,” he said, adding that the consultation of a financial advisor is also crucial. After starting an early start at her age, Deepshikha Sharma, a 41-year-old CEO of public relations, is not too concerned to be fired, although she experienced it firsthand in 2024. This is because she has saved and invested part of her salary since she was 23. But this is only one part of the equation. She also does not have to pay rent because her husband bought the house they live in before they got married. Her in -laws are former Air Force officers and receive a pension. However, Kumar of Sahaj Money said not everyone has such a support system, so financial planning is crucial. The first step is to analyze monthly cash flow to find ways to cut unnecessary expenses, he said. Employees during this period should also make sure that their details on employee pre -care funds (EPF) are corrected and up to date, especially if their work shifts, he added. They must also buy a base and a super-supplementary health insurance policy that is separate from their health coverage. This is the third installment of a Mint Money series over the developing job market. Read the first two parts here and here. Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. 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