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Indians not saving, not planning for retirement: Money9 survey

Money9 Share of Wallet survey was conducted on social media across TV9 Network's followers, with responses coming in from all parts of the country in multiple languages. A total of 16,100 participants responded to a set a multiple choice questions. The survey was conducted in January 2021. 

66% of the respondents have not availed a home loan
58% of the respondents do not intend to buy a house this year
70% of the respondents have not availed a car/two-wheeler loan
More than half of the respondents do not plan to buy a car or two-wheeler this year
Almost two out of every 5 people (37%) intend to buy a laptop this year. Mobile phone is the second item on the shopping list
Indians are sceptical of travelling this year. One in three people unlikely to take a vacation. Most who intend to travel won’t go outside India
More than half the people surveyed save nothing on a regular basis. From those who do, almost half save under Rs 5,000 a month
From those who do invest, Systematic Investment Plans are the most popular. Stock markets and the safer Provident Funds are neck-to-neck in the race for the second
Almost three out of every five Indians surveyed do not have a health insurance cover
Exactly on the lines of Health Insurance, almost 60% of those surveyed do not have a live cover too
Three quarters of the surveyed population do not have any retirement plan in place
In comparative terms, the better news is that more than half the population is planning for child’s higher education
Surplus cash at the end of month is not available with less than one in four
Published: January 28, 2021, 19:26 IST

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