A recent survey by PGIM India Mutual Fund explains how Indians underestimate the importance of retirement planning. And you’re not alone if you focus on spending more on current expenses than saving for the future!
The survey, titled Retirement Readiness Survey 2020, states that retirement planning ranks low on people’s priorities, even as children, spousal security, fitness and lifestyle rank higher.
Statistically, 89 per cent Indians do not have an alternative source of income, and barely 1 in 5 factors in inflation while planning for superannuation.
So the question is what to do? You wish you could turn back time and start planning when you had 30-40 years for retirement. Since that seems to be irrational now, let’s talk about a plan which can be executed even in a shorter time frame.
In this podcast, Business Standard’s Bindisha Sarang will help you guide for a feasible retirement plan.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.