Why are rich Indians heading into a poor retirement?
How to Manage Wealth: Standard Chartered Bank's Wealth Expectancy Report 2019 showed that India's rich have a wealth expectancy of $518,000 (wealth expectancy is the net worth that rich individuals are estimated to have at the age of 60).
As per the report, High Net Worth Individuals (HNWIs) have a wealth expectancy of $986,000 followed by $374,000 for the affluent and $195,000 for the emerging affluent.
“India remains one of the most buoyant economies in the world, with a growing class of wealthy citizens to match. Yet Indian wealth creators have relatively small wealth expectancy, including a low level of statutory pensions, resulting in a large wealth expectancy gap: only 32% will achieve more than half of their aspirations, and 68% will be less than halfway there," said the report. Livemint
All Fall Down: Caught in a credit squeeze, India Inc began to pledge shares to raise money. Now, caught in a credit squeeze, as mutual funds have assumed the rule of lenders, that deck of cards could be collapsing with an overuse of loans against shares. Read more here.
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