New Delhi:The average wealth expectancy of those in India with enough disposable income to save and invest is just Rs 3.6 crore and this would give them Rs 93,000 per month to live during retirement, a report said on Wednesday.
The report used a proprietary economic model that considered other macroeconomic factors such as GDP growth and interest rates to calculate how much the wealth creators are set to be worth at the age of 60. This wealth expectancy figure is then used to calculate how much individuals can live off each month throughout their retirement.
According to Standard Chartered's new Wealth Expectancy Report 2019, the average wealth expectancy with enough disposable income to save and invest is Rs 3.6 crore, or Rs 1.3 crore for the emerging affluent, Rs 2.6 crore for the affluent and Rs 6.9 crore for high-net-worth individuals (HNWIs).
On average, this would give the affluent class Rs 93,000 to live on per month during retirement, which is less than both their current income and wealth aspirations.
"If they were to spend at the average monthly rate to which they aspire, their wealth expectancy would last the emerging affluent 6 years of retirement, and the affluent 9 years, while HNWIs would be able to fund 5 years," it added.