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80% urban Indians not ready for retirement: Survey

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Four out of five people fear their savings will not last through retirement, finds Max Life Insurance’s India Retirement Index Study. India’s Retirement Index (on a scale 0 to 100) stands at 44.

What does the study cover?

The study maps the retirement preparedness of consumers in India. It is measured on the basis of three components: health, financial and emotional index.

1

Health is wealth

2



How should one plan investments for retirement?

3



Four in five of those above 50 feel they should have started planning earlier

Also Read:
Simplified post-retirement income plan for retirees to ensure inflation does not eat into savings

What are the barriers to investing for retirement?

4



How long will the savings last into retirement?

5



23% of respondents say they have not even thought about retirement planning

What is the right age to start planning retirement?

6



What were the triggers for investing?

(Base of 1,177 who invested in financial products for retirement)

7

What are the best investment products for retirement?

8



35% of respondents have not invested in any financial product for retirement

Source: Max Life Insurance India Retirement Index Study covering 1,816 respondents.

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