I am working in a PSU Bank for 33yrs. Want to go on VRS and use my earnings in developing a farm land and a village school. My husband is a still in the job. Daughter is working as well. Son is yet to establish himself financially. Is it advisable to resign?
Ans: Deciding to take voluntary retirement (VRS) is a significant life decision, and it’s important to weigh the pros and cons carefully, especially considering your family’s current situation and your long-term goals. Since you plan to invest in farmland and a village school, assess whether your earnings from VRS, along with any savings, are sufficient to support your retirement, these projects, and any other future expenses. Make sure to account for unforeseen costs. Although your husband is still working and your daughter is financially independent, your son may require financial support until he is established. Ensure that your financial plans allow for his needs while maintaining your own security. Farming can be a fulfilling but challenging venture. If your plan is to generate income from farming, research the agricultural sector thoroughly. Consider potential returns, climate risks, and market conditions. If you are financially secure and passionate about your projects, taking VRS could be a fulfilling choice. However, make sure that you have a solid plan for your financial stability, your son’s future, and the long-term sustainability of your farming and school projects.