InvestorQ : Is retirement planning relevant in India?
Gauravi Patel made post

Is retirement planning relevant in India?

Answer
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2 years ago


Yes, of course retirement planning is relevant in India. With our increasing population and thus ensuing looming demographic challenges, India faces a swelling non-working elderly population.

Further, as life expectancy of Indians increases, the number of years in retirement is also expected to increase. This will, sooner or later, require you to fund a longer retired life.

Additionally, the long-standing joint-family system is making way for the nuclear family system. This has resulted in self-support during non-working years becoming the new world order.

The rising healthcare costs and other essentials means you need to save and invest that much more and with proper planning. Therefore, having a planned approach to retirement is essential.

Most of us approach the topic of old age with denial. But old age is inevitable and by planning our retirement early on in life, we ensure our twilight years are spent in the best possible manner and that we don’t compromise on our lifestyle.