{"id":16083,"date":"2022-03-12T11:53:28","date_gmt":"2022-03-12T06:23:28","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=16083"},"modified":"2023-03-14T14:41:36","modified_gmt":"2023-03-14T09:11:36","slug":"why-young-indians-are-avoiding-retirement-planning","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/","title":{"rendered":"Why young Indians are severely unprepared for retirement?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d03befb23a8\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d03befb23a8\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/#What_does_the_data_say\" title=\"What does the data say?\">What does the data say?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/#Why_are_young_Indians_hesitant_to_plan_their_retirement\" title=\"Why are young Indians hesitant to plan their retirement?\">Why are young Indians hesitant to plan their retirement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/#How_should_you_go_about_planning_for_your_retirement\" title=\"How should you go about planning for your retirement?\">How should you go about planning for your retirement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/#What_should_you_consider_while_planning_your_retirement\" title=\"What should you consider while planning your retirement?\">What should you consider while planning your retirement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/#Conclusion\" title=\"Conclusion:\">Conclusion:<\/a><\/li><\/ul><\/nav><\/div>\n<p><span data-preserver-spaces=\"true\">Contrary to popular belief, life doesn\u2019t end at retirement. In fact, for most people, life begins after they are done with their family and corporate duties. It is after retirement that people have the time, money, and wisdom to explore hobbies, travel, or just enjoy life with limited responsibilities.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">In recent years, India\u2019s corporate workforce has increased dramatically, and even in public sector jobs, government-supported pension plans are being gradually phased out. This means that the comfort of having a regular monthly pension will be inaccessible to most Indians in the future. Retirement planning has become more important than ever.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-16085\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-300x233.jpg\" alt=\"pension plans - Kuvera\" width=\"400\" height=\"311\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-300x233.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-1024x795.jpg 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-768x597.jpg 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-1536x1193.jpg 1536w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-2048x1591.jpg 2048w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/pexels-monica-silvestre-1034597-150x117.jpg 150w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">That coupled with the \u2018living in the moment&#8217; attitude that the youth seems to follow has revealed a dangerous level of unpreparedness for retirement. Multiple studies in recent years have shown that most young earners are not planning for retirement and some who are planning are not taking inflation into account.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_the_data_say\"><\/span><strong><span data-preserver-spaces=\"true\">What does the data say?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">According to a survey conducted by\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cdn.pficdn.com\/cms\/pgim4\/sites\/default\/files\/2020-11\/PGIM-India-retirement-readiness-survey-2020.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Nielsen for PGIM Mutual Fund in 2020<\/span><\/a><span data-preserver-spaces=\"true\">, most Indians give priority to current expenses over future security like retirement and health insurance.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">The report clearly shows that more than half of the urban Indian population has not prepared for retirement.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Retirement planning is more common among people with higher incomes and in most cases, it is only done when there is surplus money after fulfilling their current lifestyle requirements.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/kuvera.in\/fixed-deposit\/all\"><img loading=\"lazy\" class=\"aligncenter wp-image-22082\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/03\/FD-Banner-01-03-300x76.jpg\" alt=\"\" width=\"600\" height=\"151\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/03\/FD-Banner-01-03-300x76.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/03\/FD-Banner-01-03-150x38.jpg 150w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/03\/FD-Banner-01-03.jpg 600w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">One of the most alarming findings of the survey was that the average age most young Indians say that they will have a retirement plan is 51.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">According to the report, even people who do their retirement planning early on in their life, do not consider inflation, emergencies and underestimate their financial needs which mean that they will not have sufficient funds to live comfortably after retirement.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Another\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.maxlifeinsurance.com\/content\/dam\/corporate\/press-release\/pdfs\/2021\/Max%20Life%20Insurance%20launches%20'India%20Retirement%20Index%20Study'%20_%20Website%20Filing.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">similar study<\/span><\/a><span data-preserver-spaces=\"true\"> in 2021 shows that 1 in every 4 Indians has not even thought about retirement planning. While 50% of the population believes that their retirement fund is inadequate and will be exhausted within 10 years of finishing their working life.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_are_young_Indians_hesitant_to_plan_their_retirement\"><\/span><strong><span data-preserver-spaces=\"true\">Why are young Indians hesitant to plan their retirement?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Even though most Indians are worried about financial security, retirement planning in most cases takes a back seat. This could be because of several reasons;<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">They prioritize other financial needs like a kid&#8217;s education, wedding, health emergencies, purchasing homes, etc. over retirement.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Retirement seems like a distant prospect and people feel like they can postpone it until they have more money.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Most people prefer to have a comfortable lifestyle in the present and postpone retirement planning.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A large majority of people still believe that fixed deposits, health insurance, property, and savings will be enough to cover their retirement.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">There is not enough awareness and guidance about retirement planning and young earners are intimidated by the process.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">A good chunk of people does not know the amount of money they need to accumulate to live comfortably after retirement.\u00a0<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_should_you_go_about_planning_for_your_retirement\"><\/span><strong><span data-preserver-spaces=\"true\">How should you go about planning for your retirement?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">First of all, it is very important to accept that retirement is an extremely real and inevitable scenario that all of us have to experience. Not having a financial plan for this is extremely dangerous and can be disastrous for you and your family.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Planning as early as you can even with a smaller amount of money can go a long way to accumulate a considerable fund.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Some of the most common ways to start retirement planning are:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">EPF:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Employee provident fund is a mandatory provision by the government for salaried employees where you and your employer have to give 50% each towards your retirement fund.<strong>\u00a0<\/strong><\/span><strong><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/calculators\/epf-calculator\" target=\"_blank\" rel=\"noopener\">Click here<\/a><\/strong><span data-preserver-spaces=\"true\">\u00a0to check how much funds you will accumulate through EPF when you retire.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">NPS:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">National pension scheme is a voluntary scheme to make systematic contributions throughout your working life and pool a sum of money for your retirement. Here, you have to make the complete contribution. If you are already investing in NPS, you can calculate the funds you will accumulate through the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/calculators\/nps-calculator\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"><strong>NPS calculator.<\/strong><\/span><\/a><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Personal fund: <\/span><\/strong><span data-preserver-spaces=\"true\">These are personal funds or investments you make towards your retirement. While all your investments and savings might come into use during retirement, having a separate fund just for your retirement is considered a safer option.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">You can start a\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/goals\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"><strong>goal-based investment plan<\/strong><\/span><\/a><span data-preserver-spaces=\"true\">\u00a0for your retirement and invest in it regularly to have a dedicated retirement fund.<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_16086\" aria-describedby=\"caption-attachment-16086\" style=\"width: 400px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" class=\"retirement planning - Kuvera wp-image-16086\" title=\"retirement planning - Kuvera\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-300x225.jpg\" alt=\"retirement planning - Kuvera\" width=\"400\" height=\"300\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-300x225.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-1024x768.jpg 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-768x576.jpg 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-1536x1152.jpg 1536w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-2048x1536.jpg 2048w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/09\/james-hose-jr-6D58t6uZT5M-unsplash-150x113.jpg 150w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><figcaption id=\"caption-attachment-16086\" class=\"wp-caption-text\">retirement planning &#8211; Kuvera<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_should_you_consider_while_planning_your_retirement\"><\/span><strong><span data-preserver-spaces=\"true\">What should you consider while planning your retirement?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">While all of these plans will help you accumulate some wealth for your retirement. How should you decide the corpus amount for your retirement?\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">Here are a few factors you need to consider:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Optimum age of retirement:<\/span><\/strong><span data-preserver-spaces=\"true\"> This can defer according to your preference. The retirement age is generally around the age of 60 but most people prefer to retire early. Once you have a set age that you want to retire by, all your planning will be catered towards accumulating wealth by this age.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Inflation:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Inflation is one of the most detrimental aspects of your savings. Since the value of money itself is decreasing over time, you will need to invest your money instead of saving it for your retirement.\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/blog\/how-to-beat-inflation\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\"><strong>Click here<\/strong><\/span><\/a><span data-preserver-spaces=\"true\">\u00a0to read in-depth about how you can tackle inflation.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Taxation:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Depending on the type of pension plans you are investing in, you have to consider taxes as well. While pension plans generally qualify for tax deductions, they are also taxable. You need to figure out how much of your pension amount will go into taxes.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Diversification:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Like all other investments, here also diversification is highly advised. It is very important to not keep all your eggs in one basket and have multiple plans to generate pension.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Lifestyle:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">The amount of money you need to accumulate to live a comfortable life in your retirement, depends on the lifestyle you aspire to have after retirement. Therefore, it is important to have a rough idea of the kind of lifestyle you want and the cost needed to attain it.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong><span data-preserver-spaces=\"true\">Conclusion:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">As the data clearly states, young India is moving towards a dangerous financial crisis in their retirement. With healthcare advancements, average life expectancy has risen considerably. If we do not have adequate funds to support us during our most vulnerable stage, then not only us as individuals, but also the economy will take a considerable setback.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-preserver-spaces=\"true\">We must start investing toward our inevitable retirement as soon as possible.\u00a0<\/span><strong><a class=\"editor-rtfLink\" href=\"https:\/\/kuvera.in\/blog\/all-about-epf-ppf-vpf\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a><\/strong><span data-preserver-spaces=\"true\">\u00a0to read more about various pension plans available in India.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Read more:\u00a0<a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Watch\/hear on YouTube: <strong>NPS Retirement Savings With Tax Benefits<\/strong><\/p>\n<div class=\"embed-container\">\n<div class=\"embed-container\">\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/3y_q_2h1YrY\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<div><\/div>\n<\/div>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit\u00a0<a href=\"https:\/\/app.kuvera.in\/\">Kuvera.in<\/a>\u00a0to discover\u00a0<a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\">Direct Plans<\/a>\u00a0and\u00a0<a href=\"https:\/\/app.kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a>\u00a0and\u00a0<a href=\"https:\/\/kuvera.in\/user\/login\">start investing today.<\/a><\/p>\n<p>#MutualFundSahiHai #KuveraSabseSahiHai!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Contrary to popular belief, life doesn\u2019t end at retirement. In fact, for most people, life begins after they are done with their family and corporate duties. It is after retirement that people have the time, money, and wisdom to explore hobbies, travel, or just enjoy life with limited responsibilities.\u00a0 &nbsp; In recent years, India\u2019s corporate [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":16084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[99,593,120,615],"tags":[591,1079,1501,1188,143,1500,1502],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why are young Indians avoiding retirement planning?<\/title>\n<meta name=\"description\" content=\"Multiple studies in the recent years has warned that almost 80% of urban Indians are not keen on retirement 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the recent years has warned that almost 80% of urban Indians are not keen on retirement planning.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kuvera.in\/blog\/why-young-indians-are-avoiding-retirement-planning\/","og_locale":"en_US","og_type":"article","og_title":"Why are young Indians avoiding retirement planning?","og_description":"Multiple studies in the recent years has warned that almost 80% of urban Indians are not keen on retirement 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