• Business News
  • Insurance
  • Saving
  • Share Market 5Paisa
  • Loan
  • Mutual Funds
  • Investment
  • Real Estate
  • Crypto coindcx
    • हिन्दी
    • తెలుగు
    • मराठी
    • বাংলা
    • ગુજરાતી
    • ಕನ್ನಡ
  • Close
  • Daily Show
    • 2+2=5
    • Take it Easy
    • Red Alert
    • Formula Guru
    • Money Gyan
    • Money Central
    • Money time
    • Jhatpat
  • Weekly Show
    • Money Comics
    • Economicom
    • Realty Check
    • Smile and pay
    • Money Tales
    • Spend Wise
    • Companynama
  • Insurance
  • Savings
  • Share Market 5Paisa
  • Loan
  • Crypto coindcx
  • Investment
  • Mutual Funds
  • Real Estate
  • Tax
  • Exclusive
  • Home » News » Exclusive » Affluent Indians reset financial goals post pandemic: Report

Affluent Indians reset financial goals post pandemic: Report

The pandemic has prompted the affluent in India to become more future focused while resetting their priorities

  • Money9
  • Publish Date - October 26, 2021 / 11:24 PM IST
Affluent Indians reset financial goals post pandemic: Report
The three of the most common barriers to pursuing the financial goals of the affluent across the wealth spectrum in India were volatility in financial markets which comes to 30%, insufficient information about specific investment opportunities was at 28%, while the practical difficulties in shifting investment strategies was also at 28%.

According to the Wealth Expectancy Report 2021 by Standard Chartered bank, many individuals from the affluent sections of India have reset their life goals following the pandemic, but the confidence gap post the pandemic is preventing them from taking the necessary actions to achieve their new goals. Post-pandemic, 94% have reset their life goals and for 48% of the respondents the pandemic has diminished their confidence in their finances.

Despite taking some action about their respective finances last year, the report revealed that nearly half of the respondents feel less confident about the same. To address this lack of confidence, professional assistance can help consumers, it said.

Loss of confidence

According to the report, the pandemic has prompted the affluent in India to become more future focused while resetting their priorities. Forty two per cent of people have set the goal to improve their health followed by the goal to be financially prepared for major life changes like having a child or moving abroad, which is 39% and 37% say that they want to set aside more for their children’s future which entails education or financial support.

It further said that the emerging affluent have suffered a loss of confidence disproportionately, with half reporting less confidence as compared to 41% of High Net Worth individuals.

The three of the most common barriers to pursuing the financial goals of the affluent across the wealth spectrum in India were volatility in financial markets which comes to 30%, insufficient information about specific investment opportunities was at 28%, while the practical difficulties in shifting investment strategies was also at 28%.

 

Download Money9 App for the latest updates on Personal Finance.

follow us

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Youtube
  • Instagram

also read

  • CFA Society India gears up for the 7th edition of India Wealth Management Conference

    CFA Society India gears up for the 7th edition of India Wealth Management Conference

  • What financial instruments are traded in stock markets?

    What financial instruments are traded in stock markets?

Read more news on

  • Affluent Indians
  • financial goals
  • financial planning
  • Personal finance
  • Post Covid financial management

Latest Video

SEE MORE
Why mutual fund investment is falling ever since FIIs have made a comeback?

Why mutual fund investment is falling ever since FIIs have made a comeback?

Updated: August 12, 2022
Tariff increase on cards; 5g tariff plans in India to make data expensive

Tariff increase on cards; 5g tariff plans in India to make data expensive

Updated: August 11, 2022
Why wheat prices won't fall even if wheat import duty is reduced?

Why wheat prices won’t fall even if wheat import duty is reduced?

Updated: August 10, 2022
Know Nifty 50 forecast, Sensex 30 forecast

Know Nifty 50 forecast, Sensex 30 forecast

Updated: August 9, 2022
Know the reason why onion prices are falling and current problems faced by onion farmers

Know the reason why onion prices are falling and current problems faced by onion farmers

Updated: August 5, 2022
Why clothes are not becoming cheaper despite  fall in cotton prices?

Why clothes are not becoming cheaper despite fall in cotton prices?

Updated: August 4, 2022
When will attrition in IT Sector and Tech Startups stop?

When will attrition in IT Sector and Tech Startups stop?

Updated: August 3, 2022
How will government's decision to implement 5% GST on non-branded food items impact you?

How will government’s decision to implement 5% GST on non-branded food items impact you?

Updated: August 2, 2022
Open in App

Related

  • Behavioural finance an integral part of right asset allocation

    Behavioural finance an integral part of right asset allocation

  • Unsure about the right life insurance plan: Here are four easy steps to help you decide

    Unsure about the right life insurance plan: Here are four easy steps to help you decide

  • 9 things you can do to involve your family in a financial decision

    9 things you can do to involve your family in a financial decision

  • SIP: Things to consider before investment 

    SIP: Things to consider before investment 

  • Top personal finance tips by experts

    Top personal finance tips by experts

  • Six simple financial habits to set you up for success

    Six simple financial habits to set you up for success

Videos

  • No immediate setting up of 8th Central Pay Commission: Minister of State for Finance Pankaj Chaudhary
    Bulletin

    No Revision in Pay For Govt Staff

  • Stake your claim with DEAF; know how you can apply to withdraw unclaimed funds from bank accounts
    Savings

    Is Your Money Stuck In Rs 90K crore?

  • What are APIs? Why is India dependent on China for APIs?
    Wisdom

    What are APIs? Why is India dependent on China for APIs?

  • Know Nifty 50 forecast, Sensex 30 forecast
    Analysis

    Know Nifty 50 forecast, Sensex 30 forecast

  • Long-term bonds looking attractive: Experts
    Bulletin

    Long-term bonds looking attractive: Experts

  • TV9 Sites

  • TV9 Hindi
  • TV9Telugu.com
  • TV9 Marathi
  • TV9 Gujarati
  • TV9 Kannada
  • TV9 Bangla
  • News9 Live
  • Know this india
  • Money9 Sites

  • Money9 Hindi
  • Money9 English
  • Money9 Marathi
  • Money9 Telugu
  • Money9 Gujarati
  • Money9 Kannada
  • Money9 Bangla
  • Topics

  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Crypto
  • Exclusive
  • Daily Shows

  • 2+2=5
  • Take it Easy
  • Red Alert
  • Formula Guru
  • Money Gyan
  • Money Central
  • Jhatpat
  • Money time
  • Weekly Shows

  • Money Comics
  • Economicom
  • Realty Check
  • Smile and pay
  • Money Tales
  • Companynama
  • Spend Wise
  • Follow us

  • FaceBook
  • Twitter
  • Youtube
  • Instagram
  • Linkedin
  • Download App

  • Andorid
  • ios
  • Contact Us
  • About Us
  • Advertise With Us
  • Privacy & Cookies Notice
  • Complaint Redressal
  • Copyright © 2022 Money9. All rights reserved.