India’s approach to retirement is undergoing a shift, with more people viewing their later years as a “Second Innings” focused on travel, entrepreneurship and personal passions. However, a new study warns that financial preparedness still lags behind aspirations. According to IRIS 5.0 released by Axis Max Life Insurance Limited, the national retirement readiness score has improved to 48. Yet, 63% of urban Indians fear their savings may not last beyond 10 years after retirement. The study also highlights that 7 out of 10 Indians still consider ₹1 crore as sufficient for retirement — a belief described as the “₹1 Crore Illusion,” given rising medical inflation of 10–12% and increasing living costs.
The report notes a significant execution gap. While awareness of the National Pension System (NPS) and annuities is high, only 37% of Indians have achieved even a quarter of their retirement target corpus. The study stresses three pillars for a resilient strategy — financial readiness, health protection through insurance buffers, and emotional independence, with 71% fearing loneliness and 72% seeking financial autonomy in old age.
In Guwahati, financial advisors say interest in SIPs, pension products and structured retirement plans is rising, particularly among young professionals and women. However, consistent long-term investment discipline remains a challenge. The study concludes that retirement planning must move beyond wealth accumulation to sustainable income generation, backed by disciplined and diversified action.