Retirement Planning: How much money do you need to live after retirement? Here's the answer...
In today's times, the question of how much money will be needed to live after retirement has become a pressing issue. While most people are still unsure about this, it's a significant issue among urban dwellers, especially working professionals. Experts believe that awareness about the amount of money needed to meet post-retirement needs remains low. However, seven out of 10 people believe that a corpus of ₹1 crore is sufficient for a comfortable retirement life. This information is revealed in the annual study report of Axis Max Life Insurance.
Index Improvement
According to the India Retirement Index Study Report, India's Retirement Index has increased from 44 in 2022 to 48 in 2025. This improvement is primarily due to improved fitness habits, regular health checkups, and increased life coverage. The report states that people's financial confidence remains stable, but their understanding of retirement funds is somewhat weak. The greatest improvement was observed in health preparedness, indicating that India is now recognizing holistic health, or wellness, as the foundation for retirement security.
Survey conducted
The survey was conducted among 2,242 people aged 25 to 65 years in 28 cities across the country. Half of these individuals were salaried and half were self-employed, with an annual income of ₹500,000 or more. According to the survey, 50% of respondents believe that retirement planning should begin as soon as they start earning and before the age of 35.
Retirement Funds: The Next Challenge
Sumit Madan, Managing Director and Chief Executive Officer (CEO) of Axis Max Life Insurance, said that this annual study indicates that consumers are becoming more aware, health-conscious, and confident about long-term financial planning. Madan said that the next challenge is to build sufficient funds and increase mental resilience for a comfortable post-retirement life. For the first time, this study has included workers returning from abroad and gig professionals doing temporary work as a separate category.
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