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Retirement planning in india.
The document discusses the evolving landscape of retirement planning in the context of an aging population and increasing life expectancy, particularly in India. Key challenges include low financial literacy, reliance on property investments, and inadequate health insurance among older adults. The emphasis is on shifting from traditional investment strategies to a focus on lifetime income and risk management to ensure financial security during retirement.
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Retirement planning in india.
- 1. The Golden Opportunityof Golden Years by Neeraj Chauhan, CFPcm
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- 3. By providing financialprotection against the major 19th century risk of dying too soon, life insurance industry became the biggest financial industry of the century Now Providing financial protection against the new risk of not dying too soon enough may well become the next century’s major and most profitable financial industry Peter Drucker 13/07/2014 Neeraj Chauhan, CFP
- 4. Most Populous countries 2013 CountryPopulation (in Millions) China 1,357 India 1,277 United States 316 Indonesia 249 Brazil 196 Pakistan 191 Nigeria 174 Bangladesh 157 Russia 143 Neeraj Chauhan, CFP13/07/2014
- 5. Most Populous countries 2050 CountryPopulation (in Millions) India 1,652 China 1,314 Nigeria 440 United States 400 Indonesia 366 Pakistan 363 Brazil 227 Bangladesh 202 Congo, Dem. Rep. 182 Neeraj Chauhan, CFP13/07/2014
- 6. Emerging retirement income market NeerajChauhan, CFP13/07/2014
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- 9. By mid-century, this60+ age group is expected to reach 19% encompass 323 million people, a number greater than the total U.S. population in 2012. Neeraj Chauhan, CFP13/07/2014
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- 11. Increasing Life Expectancy 5759 60 62 63 64 66 68 69 75 0 10 20 30 40 50 60 70 80 Age Age Neeraj Chauhan, CFP13/07/2014
- 12. Significant health problem NeerajChauhan, CFP13/07/2014
- 13. Almost one-half (47percent) of older Indians have at least one chronic disease such as asthma, angina, arthritis, depression, hypertension or diabetes Neeraj Chauhan, CFP13/07/2014
- 14. Fewer than 10percent of Indians have health insurance from private or public sources, and about 72 percent of health care spending is paid out-of-pocket Neeraj Chauhan, CFP13/07/2014
- 15. Can’t forecast sizeof their retirement bucket Neeraj Chauhan, CFP13/07/2014
- 16. Too much life,not enough money as Less than 11 percent of older Indians have a pension of any sort Neeraj Chauhan, CFP13/07/2014
- 17. Shift in formalretirement savings plan from defined benefit to defined contribution Neeraj Chauhan, CFP13/07/2014
- 18. Savings are frequently investedin low interest bearing Instruments. Neeraj Chauhan, CFP13/07/2014
- 19. Accumulated capital usually endup being diverted to necessities other than retirement. Neeraj Chauhan, CFP13/07/2014
- 20. Many Indians areheavily reliant on investments in property and are hence very exposed to illiquidity & movements in property values. Neeraj Chauhan, CFP13/07/2014
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- 22. Nuclear family Structureand inability of families to support elderly Neeraj Chauhan, CFP13/07/2014
- 23. Low financial literacy NeerajChauhan, CFP13/07/2014
- 24. Silver lining Neeraj Chauhan,CFP13/07/2014
- 25. High Savings ratio NeerajChauhan, CFP13/07/2014
- 26. Growing Economy Neeraj Chauhan,CFP13/07/2014
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- 28. Education Decision Support Advice/ Marketinginfo Healer Trusted Counselor Neeraj Chauhan, CFP13/07/2014
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- 30. Retirement planning issmartly shifting purchasing power from period of high earnings (the working years) to those of low earnings (Retirement). Neeraj Chauhan, CFP13/07/2014
- 31. Get real about Goals Income Outgo 13/07/2014Neeraj Chauhan, CFP
- 32. Right combination ofretirement income tools for both retirement accumulation & retirement distribution. Neeraj Chauhan, CFP13/07/2014
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- 34. Adequate Risk management •Red Zones •Health •Expect the Unexpected NeerajChauhan, CFP13/07/2014
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- 36. A plan thatalleviate their fear, allowing them to retire with confidence and leisure. Neeraj Chauhan, CFP13/07/2014
- 37. Give an attitudeof abundance over scarcity with focus on life time income and spending. Neeraj Chauhan, CFP13/07/2014
- 38. Shift focus and spotlightfrom Investment portfolio to human capital with life cycle approach. Neeraj Chauhan, CFP13/07/2014
- 39. People care moreabout their lifetime standard of living than about their wealth and this requires a shift from return management to risk management. Neeraj Chauhan, CFP13/07/2014
- 40. In the End It’sall about Arranging lifetime consumption in the safest way possible given finite lifetime income over building largest possible portfolio constrained by risk tolerance. Neeraj Chauhan, CFP13/07/2014