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Indians will need to save an estimated 3.5 crore (approximately USD 401,000) to ensure a comfortable and secure retirement, according to a report by HSBC. The report titled "Affluent Investors Snapshot 2025" underscores a growing awareness among Indian investors about the rising cost of living, inflation, and increased life expectancy--factors that are redefining retirement planning in the country.The findings reveal that many people still prioritise short-term goals like travel, education, or buying property, but a growing number are beginning to place long-term financial security at the forefront. The report also highlights that managed investments, stocks, and gold are the top financial products currently owned, with investors additionally considering alternatives and managed investments."Investors (in India) are concerned about the cost of living and economic uncertainty. Compared to the global outlook, they are extremely confident in their ability to achieve financial goals," the report notes. Indian Investors prioritise property investments, financially supporting their families, and savings for personal well-being. However, HSBC also sees that in terms of mean asset allocation in 2025, gold witnessed the highest increase in allocation over the past 12 months, followed by other alternatives. On the flip side, investors' cash allocation has decreased to 15 per cent over the past 12 months, with no clear consensus for the next 12 months.HSBC's analysis also highlights the importance of early planning. Investors who began retirement planning in their early 30s were more confident about meeting their goals, while those starting later expressed concerns about having to compromise on their post-retirement lifestyle.India's concerns mirror broader global trends, although retirement expectations and financial readiness vary considerably by region. In Singapore, the average savings needed for a comfortable and secure retirement stands at USD 1.39 million, while for Hong Kong it is USD 1.1 million, reflecting higher costs of living.
Lastly, the average saving required in the US is USD 1.57 million, and in China is USD 1.09 million to have a comfortable and secure retirement. (ANI)
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