7 out of 10 Indians expect their children to support them in their retirement - FinVise India
7 out of 10 Indians expect their children to support them in their retirement: Survey Not many of us are financially prepared for our life after retirement . This is something that a recent HSBC survey found. The HSBC Future of Retirement Study found that while 76 percent of working age people in India expect a comfortable retired life, only 33 percent are actually putting aside money to fund that phase of life. The retirement study covered 1,045 respondents in India. Here are more findings from the survey. Inability to anticipate future financial needs is the main roadblock to planning 45% feel it ’ s better to spend money on enjoying life now than saving for retirement 53% save for short-term goals rather than longer term plans 56% live on a day-to-day basis financially, setting the stage for problems later While almost two thirds of working people have a financial plan in mind, just under three fifths have sought financial advice to help them plan for retirement.