Your age-based 'earnings report card': How much are you earning between the ages of 45 and 54, and how much should you be earning?

The 45-54 age group, the "half-century" mark of life, is a very strange phase. On one hand, you're at a point in your career where you have a wealth of experience, but on the other hand, you're burdened with a huge mountain of responsibilities. There are hefty college fees for your children, massive home loan EMIs, and the looming worry of retirement. All of this combined creates a unique level of stress at this age.

In such a situation, the question often keeps recurring: Am I earning enough for my age? Have my peers surpassed me? If you're also thinking along these lines, let's take a look at the financial picture for this age group, from earnings to retirement security.

1. Where do you stand in the 'earning' race?

In India, the age group of 45 to 54 is considered the 'peak earning years'. This means it's the time when you should be earning the highest salary or profit of your life.

If you are in a senior position in a large company, your average monthly income could be around ₹2 lakh to ₹5 lakh.

Normally, professionals with 20-25 years of experience in this age group have an average income of around ₹80,000 to ₹1.5 lakh.

Government employees in this age group earn around ₹70,000 to ₹1.4 lakh.
A well-established business owner earns at least ₹1.2 lakh per month or more.

2. What does a declining income graph mean?
If your income has been stagnant for the last 2-3 years at this age, you need to be alert.

In reality, education and healthcare costs are increasing at a rate of 8 to 10%.

If your salary isn't growing at the same rate every year, understand that you're not moving forward, but rather becoming relatively poorer. It's clear that you only have 10 to 12 years left to earn well so that you can enjoy a tension-free retirement.

3. Understand the math of 'Net Worth' along with 'Salary.'
The monthly salary credit message in your account isn't everything.

By the age of 45-50, your 'net worth' (including house, gold, mutual funds, and PF) should be at least 10 times your annual income.

Clearly, if you earn 15 lakh rupees annually, you should have a net worth of approximately 1.5 crore rupees.

4. Have you fallen behind?
Understand this once and for all: worrying doesn't pay the bills, taking action does. So, if you are below the average financially, do this:

AI and New Skills: Today's world is not just about experience, but also about technology. So, add a touch of AI and digital tools to your existing experience to increase your demand.

Side Hustle: Dedicate 2 hours a day to consulting or selling your knowledge online.

Passive Income: Money lying idle in your bank account won't make you rich. Invest it in places where it can grow.

Be Active from 45 to 54, not at 'Rest.'
The age of 45 to 54 is not the time to 'rest' but to be active. Yes, this is the age to play the best innings of your career. Learn from others' earnings and raise your own level. If you make the right decisions about your income and investments today, believe me, your life after 60 will be no less than that of a king. (Note: This news is based on general information; for more details, please consult a financial advisor.)

Disclaimer: This content has been sourced and edited from NDTV India. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.