Retirement is often seen as life’s quieter reward, i.e., more time with loved ones, slower mornings, long-delayed holidays and freedom from office deadlines.
But beneath this hopeful picture lies a more uneasy reality. , yet without enough savings, proper planning or professional guidance, suggests a survey by .
Perhaps the biggest surprise in the survey is what can only be called a confidence gap.
Nearly three out of four Indians approaching retirement either have only a rough plan or no plan at all. Yet, among those without a detailed retirement strategy, over 61% still believe they will retire comfortably, according to the survey based on responses from more than 1,200 Indians, mostly aged between 40 and 60.
That confidence may sound reassuring, but experts believe it could become risky.
“Retirement planning in India suffers from something I’d call a confidence anaesthesia,” said Animesh Hardia, Editor-in-Chief at 1 Finance Magazine.
“The survey shows 61% of people without a detailed retirement plan still expect to retire comfortably. That false security removes the urgency to act,” he said.
In simpler words, many Indians believe things will somehow work out, even if the numbers do not fully support that belief.
The survey points to a worrying savings gap.
The median respondent reported having a of Rs 28 lakh, while aiming for a target of Rs 1 crore. That means a shortfall of nearly 3.6 times.
The gap becomes even wider among higher earners. At the upper end of the income scale, respondents targeted retirement savings of around Rs 4 crore but had only about Rs 50 lakh accumulated so far.
Why is this happening?
One reason is timing. Most respondents said they started saving for retirement at the age of 39 and save roughly 15% of their annual income. That leaves only around 20 years to build a retirement fund before turning 60.
For many, the maths simply does not add up.
As Hardia explained, “By the time reality sets in, a health scare at 58 or a corporate restructuring at 55, the compounding runway is gone. Twenty years of potential wealth creation gets compressed into five years of panic saving.”
Many people plan for retirement as if life ends at 80. But the numbers suggest otherwise.
The survey found that nearly 59% of respondents expect their retirement funds to run out before they turn 80. However, urban Indians who reach 60 may live another 22 to 24 years, pushing the realistic planning horizon closer to 82–84 years or even longer.
In other words, many retirees may outlive their savings.
Adding to the pressure is healthcare.
A striking 82% of respondents identified medical expenses as their biggest retirement concern. Yet many still depend on general savings rather than dedicated retirement or healthcare plans.
This could become expensive very quickly. Medical inflation in India is rising at around 12–14% annually — far faster than normal inflation. A hospital bill of Rs 5 lakh today could rise sharply over the next two decades.
When it comes to retirement savings, familiarity still rules.
Fixed deposits and mutual funds emerged as the most preferred options, both used by over 61% of respondents. Gold and property followed closely.
Surprisingly, only around 23% said they use the National Pension System (NPS), despite it being specifically designed for retirement planning.
The findings suggest many Indians are not building a retirement strategy, they are simply collecting familiar investment products.
Experts say that while fixed deposits offer stability, relying too heavily on over a long retirement period.
One of the most worrying findings in the survey is the lack of financial guidance.
Nearly 77% of respondents said they do not seek professional financial advice. Instead, many rely on family and friends for money-related decisions.
Even among higher-income groups, the hesitation remains strong.
Part of the problem may be access. India reportedly has fewer than 1,000 active Sebi-registered investment advisers for a population of over 1.4 billion.
But trust appears to be an even bigger issue.
Many people simply prefer handling retirement planning on their own — even when the stakes are high.
While it may be too early to call it a full-blown crisis, the cracks are beginning to show.
The survey paints a picture of a generation moving towards retirement with confidence, but often without enough planning or savings to support that confidence.
This does not mean every retiree will struggle. Many households own property, have family support or expect pension income. But the risks are becoming harder to ignore — longer life spans, rising healthcare costs and insufficient savings are creating pressure that did not exist in the same way a generation ago.
Retirement may still feel far away for many Indians. But as this survey suggests, waiting too long to plan could turn what should be a peaceful phase of life into a financial challenge.