What are the retirement savings concerns for Sandwich Generation and Empty Nesters?

Many in both groups fear their retirement savings will not last beyond ten years, indicating a significant savings gap.

How do Empty Nesters approach retirement planning according to the IRIS study?

Empty Nesters show a 'better late than never' approach, with a majority investing and aware of their required post-retirement corpus, though health confidence is lower.

What emotional paradox do the Sandwich Generation face regarding retirement?

The Sandwich Generation experiences a 'dependency paradox,' trusting family support while also fearing financial dependence on children and desiring independence.

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Sandwich & Empty Nesters Face Retirement Savings Gap

27 Jan

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Summary

Many fear their savings will not last over ten years post-retirement.
Both generations show mixed financial discipline and health concerns.
Familial support is a comfort, yet loneliness remains a fear.

Sandwich & Empty Nesters Face Retirement Savings Gap

Axis Max Life Insurance's latest India Retirement Index Study (IRIS) highlights critical retirement savings gaps for the Sandwich Generation and Empty Nesters. The overall IRIS score is 48, with only 33% of Empty Nesters and 38% of the Sandwich Generation confident their savings will exceed ten years post-retirement.

The study finds Empty Nesters exhibit a 'better late than never' approach, with 71% investing and 86% knowing their required corpus. However, they show muted health confidence and fear loneliness. The Sandwich Generation, scoring slightly higher at 49, faces responsibilities for both aging parents and children.

This group is marginally ahead in life insurance ownership but relies on family or inherited wealth if not yet investing. While 79% feel optimistic about their health, 76% worry about future financial dependence on children, creating an emotional paradox of trust and a desire for independence.