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Why Real Estate Is Not A Retirement Plan
The New Indian Express
|October 21, 2024
BUYING a home is the first preference of Millennials and Gen X in India. Millennials are people born between 1980 and 1996.
Gen X people are born between 1965 and 1980. These two categories are the highest income earners, and their future investment plans include buying a home as a top priority.
In a survey of over 7,500 people of multiple generations and incomes for the industry body Federation of Indian Chambers of Commerce and Industry (FICCI), Anarock Research, a real estate consulting firm, provides interesting insights.
About 66% of the Millennials and 41% of Gen X are keen to buy a home. Regarding the young, represented by Gen Z, 39% say they want to start a business. These are people born between 1997 and 2012.
When asked about retirement, only Gen X and the previous generation, Baby Boomers (people born between 1946 and 1964), prefer that.
When people prefer physical assets for investments, that should be a matter of concern. The government of the day should take serious note of it. That means people believe retirement is possible only if you own a house. It also shows the inadequacy of retirement planning and execution at all levels.
This story is from the October 21, 2024 edition of The New Indian Express.
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