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A recent survey done by Max Life Insurance, in partnership with KANTAR, has focused the spotlight on Indians' lack of retirement preparedness. The survey, which covered 3,220 respondents in 28 cities, found that nine out of 10 people aged above 50 regret not having begun to save and invest sooner for retirement. About 59 per cent of those surveyed believe their savings will get exhausted within 10 years of retirement. And 23 per cent admitted to not knowing how to begin planning for retirement.

Says Prashant Tripathy, managing director and chief executive officer, Max Life Insurance: “While Indians are realising