A little less than a third (32 per cent) are on track to achieving more than half their goal by the age of 60
Well-heeled Indian savers might fall short of their desired retirement goals despite 60 per cent of them having a financial strategy in place, a Standard Chartered Wealth Expectancy Report has found. A little less than a third (32 per cent) are on track to achieving more than half their goal by the age of 60, which means a majority of them are under-prepared for their retirement. In fact, emerging affluent individuals could see their wealth expectancy – that is, expected total net wealth at the age of 60 – getting exhausted within six years of retirement. In the case of the affluent class, the corpus could last nine years. Not surprisingly, 64 per cent of the affluent group said the anxiety around money matters has affected their health. The findings reinforce the need for more robust financial planning to close the gap.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.