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    Professions To Consider Retirement Age Of 40'S | PNB Metlife


    Professions to consider when you want to retire by Age 40

    Last Updated On 19-02-2020

    When it comes to retirement planning, the earlier one starts, the better. Depending on one’s profession, it is possible to speed up one’s retirement or to prolong it. Consider the following careers to retire by the time you turn 40.

    Law Enforcement

    Police officers, fire marshals, and other government law enforcement jobs offer high paying pension plans to their employees. Additionally, most police officers and firefighters are given the option to retire after 20 years of service. The reason stems from the nature of law enforcement work. This job requires being in high-stress situations where one’s survival is often at risk. The payback seems to be a comfortable and relatively early retirement. 

    Retirement planning involves looking at a variety of pension plans that suit one’s needs. The benefit of using a pension plan is that it does not require that one pay any income tax on the premiums given until a certain amount. Therefore, by using a pension plan one saves a lump sum that can be paid in the form of monthly annuities once the pension matures. A corpus of Rs. 1 crore in a pension plan would yield annuities of Rs. 70,000 for life, if it was taken at age 60.

    Investment Banking

    The goal of an investment banker is to help a client of the bank increase their capital by strategically investing in financial markets. Other responsibilities include equity research, offering risk management and corporate strategy, and giving advice with regards to mergers and acquisitions (M&A). The mean salary of investment banking analysts in India is Rs 8 lakh per annum. However, this number rises significantly with more experience, making it a good option for early retirement.

    An additional benefit of investment banking is its travel opportunities. Finance bankers travel to visit their client’s largest projects, and M&A advisors travel to negotiate border transactions. Hence, the amount of travel depends on one’s role in investment banking.


    Orthopedics is one of the highest paying medical careers without the sacrifice of many years spent in education and training. In India, orthopedic jobs offer an average monthly salary of Rs. 3 lakhs to Rs. 5 lakhs, making it a desirable option for those seeking early retirement. Areas to work in orthopedics include being an orthopedic surgeon, physical therapist, sports medicine physician, physical therapist, and consultant.

    As an example, an orthopedic surgeon requires around 4.5 years of MBBS schooling in addition to 1.5 years of MS (Ortho) training. In total, an education for a career in orthopedics chalks up to 6 years. When compared to the career of a doctor, the orthopedic job typically offers a quicker start with handsome rewards.

    Business Consulting

    On average, business consultants in India tend to earn more than other professions. Depending on the location, business consultants can earn 14.3% of the mean salary of employees in other occupations. This makes it a great option for those who plan to retire by age 40.

    Business consultants generally work on the organization of a company to help it run more efficiently. When it comes to retirement planning, this profession is high in demand and variety, making it an attractive option for many people. Both startups and larger companies are on the lookout for employees in business consultant domains like business analysis, human resource consulting, and financial risk management.

    Software Development

    Software development involves designing, installing, testing, maintaining computer software systems. Software developers earn a base payment of Rs. 5.5 lakhs per year in India. Over the base fee, most companies offer a ‘variable pay’ based on individual performance. Often, the average variable pay can go as high as 50% of the base fee, making this career a moderately well-paying option.

    Software developers have the opportunity to create a tech startup once they gain significant work experience and technical skills. Many well-established developers spearhead tech startups that bring them massive rewards in a short amount of time. This helps them retire early after selling their stakes, making this an attractive option.

    In conclusion, the majority of today’s workforce comprises of millennials who aim to retire early. Choosing such occupations can offer enough financial support for a short and fulfilling career. However, retirement planning is not only about looking for well-paying jobs. Finding the right health insurance and life insurance also serve as an important financial cushion during retirement. For more details about Term Insurance Plans, browse the PNB Metlife website.

    Get more information on website about Critical Illness Rider, and Long Term Savings offered by PNB MetLife.


    • *Tax benefits are subject to conditions and other provisions of the Indian tax laws and are subject to amendments made thereto from time to time.
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