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Retirement planning in india.

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The elderly people are likely to be exposed to emotional, physical and financial insecurity in the years to come with the rapid changes in the social scenario and the emerging prevalence of nuclear family set-ups in India in recent years

There is an emerging need to pay greater attention to promote holistic planning including pension Planning, health care planning, fiscal discipline, savings levels etc. in the context of changing family relationships and severely lim¬ited old-age income support.

This presentation offers insights into the marketplace for retirement financial advice, What are the challenges faced by retirees, what financial advisers can do, how they can impact client’s life, and how clients can be steered toward good retired life.
We are now witnessing an acknowledgement among those in their 30s and 40s that working in retirement is, and may have to be, part of their formal retirement plans. Retirement planning no longer consists of simply putting money aside each month.
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  • The Golden Opportunity of Golden Years by Neeraj Chauhan, CFPcm
  • 13/07/2014 Neeraj Chauhan, CFP
  • By providing financial protection 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
  • Most Populous countries 2013 Country Population (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
  • Most Populous countries 2050 Country Population (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
  • Emerging retirement income market Neeraj Chauhan, CFP13/07/2014
  • Neeraj Chauhan, CFP13/07/2014
  • Neeraj Chauhan, CFP13/07/2014
  • By mid-century, this 60+ 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
  • Challenges Neeraj Chauhan, CFP13/07/2014
  • Increasing Life Expectancy 57 59 60 62 63 64 66 68 69 75 0 10 20 30 40 50 60 70 80 Age Age Neeraj Chauhan, CFP13/07/2014
  • Significant health problem Neeraj Chauhan, CFP13/07/2014
  • Almost one-half (47 percent) of older Indians have at least one chronic disease such as asthma, angina, arthritis, depression, hypertension or diabetes Neeraj Chauhan, CFP13/07/2014
  • Fewer than 10 percent 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
  • Can’t forecast size of their retirement bucket Neeraj Chauhan, CFP13/07/2014
  • 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
  • Shift in formal retirement savings plan from defined benefit to defined contribution Neeraj Chauhan, CFP13/07/2014
  • Savings are frequently invested in low interest bearing Instruments. Neeraj Chauhan, CFP13/07/2014
  • Accumulated capital usually end up being diverted to necessities other than retirement. Neeraj Chauhan, CFP13/07/2014
  • Many Indians are heavily reliant on investments in property and are hence very exposed to illiquidity & movements in property values. Neeraj Chauhan, CFP13/07/2014
  • Emotional bias Fear Aggressiveness Regret Susceptibility Inertia Neeraj Chauhan, CFP13/07/2014
  • Nuclear family Structure and inability of families to support elderly Neeraj Chauhan, CFP13/07/2014
  • Low financial literacy Neeraj Chauhan, CFP13/07/2014
  • Silver lining Neeraj Chauhan, CFP13/07/2014
  • High Savings ratio Neeraj Chauhan, CFP13/07/2014
  • Growing Economy Neeraj Chauhan, CFP13/07/2014
  • Expectations Neeraj Chauhan, CFP13/07/2014
  • Education Decision Support Advice/ Marketing info Healer Trusted Counselor Neeraj Chauhan, CFP13/07/2014
  • Delivery Neeraj Chauhan, CFP13/07/2014
  • Retirement planning is smartly shifting purchasing power from period of high earnings (the working years) to those of low earnings (Retirement). Neeraj Chauhan, CFP13/07/2014
  • Get real about Goals Income Outgo 13/07/2014 Neeraj Chauhan, CFP
  • Right combination of retirement income tools for both retirement accumulation & retirement distribution. Neeraj Chauhan, CFP13/07/2014
  • Appropriate Asset allocation, diversification, rebalancing. Neeraj Chauhan, CFP13/07/2014
  • Adequate Risk management •Red Zones •Health •Expect the Unexpected Neeraj Chauhan, CFP13/07/2014
  • Fiduciary behavior Neeraj Chauhan, CFP13/07/2014
  • A plan that alleviate their fear, allowing them to retire with confidence and leisure. Neeraj Chauhan, CFP13/07/2014
  • Give an attitude of abundance over scarcity with focus on life time income and spending. Neeraj Chauhan, CFP13/07/2014
  • Shift focus and spotlight from Investment portfolio to human capital with life cycle approach. Neeraj Chauhan, CFP13/07/2014
  • People care more about 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
  • In the End It’s all 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
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