Indians Fear Running Out of Funds in Retirement
It is said that money can’t buy happiness but Indian earners beg to differ. Recently released Standard Chartered Wealth Expectancy Report 2019 shows that as much as 77 per cent of the 1,000 Indian respondents consider money essential to their happiness.
In fact, wealth is so important that many Indian earners or wealth creators, as the report calls them, are anxious about their financial future.
The survey was conducted in 10 countries across Asia, Africa and Middle East, among three categories of emerging affluent, affluent and high net worth individuals (HNWIs).
About 64 per cent of the Indian affluent group respondents said they worry so much about money that it affects their health.
Yet, the interesting thing to note is that despite placing great importance on wealth, most Indians are unable to plan their finances properly and create enough wealth for a comfortable retirement.
Only 32 per cent respondents are confident to achieve more than half of their aspirations, whereas 68 per cent will be less than halfway there.
Read more @Entrepreneur
