Once upon a time, investing was a serious affair. People discussed retirement plans, children’s education, buying dream homes, and preparing for emergencies. Every rupee had a purpose, a deadline, and a defined risk appetite.
But what happens when all the goals are achieved?

When the children are well-settled, the retirement kitty is overflowing, and the wealth is compounding faster than it can be consumed?

Welcome to the fascinating world of Goal-less Fun Investing, where investing transforms from a necessity to a recreational pursuit.

Investing Beyond the Finish Line

How about this: A 68-year-old retired textile magnate from Mumbai, who has already taken care of his children’s future and business legacy, now finds excitement in tracking Dogecoin. Not for returns, but for the thrill—like a flashback to the adrenaline of closing crores-worth deals.

Across India, a new class of investors in their 60s and 70s—financially sorted and free from liabilities—is emerging. They’ve done their SIPs, bought the gold, secured insurance, and set up their estates. Now, investing is about curiosity, learning, and joy.

From backing startups to dabbling in meme-coins and NFTs, these investors aren’t chasing goals. They’re chasing relevance, stimulation, and the satisfaction of making their money dance, even if just a little.

As one retired Air Force officer told me recently, “I don’t need the money. But if a startup I believe in succeeds, the joy is something else. It’s not about returns—it’s about staying relevant.”

The Indian Lens: Post-Retirement, Pre-Legacy

Indian investors have traditionally focused on wealth preservation and legacy. But today’s affluent retirees are rethinking that. With financially independent children and minimal transmission issues foreseen, personal interests are taking centre stage.

Retired doctors are up at 1 am tracking US tech stocks. Ex-army officers run WhatsApp trading groups for newly launched altcoins and candle patterns on charts. The smartphone and brokerage app have replaced Sudoku and golf for many.

For them, investing is not just a financial activity—it’s a cerebral one.

From FOMO to JOFO

Unlike younger investors who battle FOMO (Fear of Missing Out), these seniors are discovering JOFO —theJoy of Figuring Out. They’re not panicking over missed trends. They’re immersed in understanding narratives, cycles, and strategies.

They treat investing like chess: thoughtful, slow, and satisfying, not a frantic gamble on a roulette wheel.

“Wealth is the ability to fully experience life,” wrote Henry David Thoreau. Goal-less investing is just that—an expression of freedom, where the journey matters more than the outcome.

But Is It Safe?

Ironically, goal-less investing is often more cautious than goal-driven investing. These investors ring-fence their serious money—into debt funds, annuities, or index strategies—and reserve a small sandbox for thrill.

It’s not about recklessness. It’s about controlled exploration.

They know that here, the metric is not alpha or CAGR (Compounded Annual Growth Rate) —it’s satisfaction. They apply strict limits, never risking more than they can afford to lose, and preserve their core financial security.

The Advisor’s Role in a Goal-less World

Financial advisors like us must adapt. From being custodians of goals, we become companions in curiosity. We provide the rails, but let clients drive the engine.

Such investors benefit from a Core & Satellite strategy:

• Core: For peace of mind
• Satellite: For peace of thrill

The most successful among them invest like art collectors—curious, selective, unconcerned with resale value, but deeply satisfied with ownership.

Advisors who continue to pitch textbook financial plans to these individuals are at risk of sounding obsolete.

The Bigger Picture

This isn’t just a quirk of wealth—it’s a sign of India’s maturing investor base. A generation that navigated economic transformation is now deploying capital with purpose and playfulness.

And when seasoned investors channel money into emerging sectors, it’s not just good for them—it’s great for market innovation.

My experience here: Some people invest to live, and others live to invest. But the luckiest ones? They invest to stay alive—mentally, emotionally, and purposefully.

Goal-less fun investing is not the opposite of discipline—it is what emerges after discipline has done its job. It’s a privilege earned through decades of prudence and patience.

Not everyone will reach this stage. But those who do must find the fine line between entertainment and risk. Their capital now serves not just financial goals, but intellectual and emotional ones too.

As George Bernard Shaw wisely put it, “We don’t stop playing because we grow old; we grow old because we stop playing.”

And sometimes, a well-placed small-cap stock or a contrarian crypto bet is just the play one needs to feel alive again.