In booming bull market & high-flying economy, it's the high & mighty that are coming up short
In what might sound like a major anomaly, in a high-flying economy bolstered by a booming bull market, it's the high & mighty that are coming up short.
Even as the Indian economy flourishes and the stock market witnesses a bull run for the ages, many high net-worth individuals (HNIs) seem to be struggling to meet their financial aspirations, a new survey has found. In essence, the "India Wealth Survey 2025," conducted by Marcellus Investment and Dun & Bradstreet, has revealed things that are hard to associate with the rich in an economy like India's.
The survey highlights that a significant portion of HNIs are falling short when it comes to saving. Surprisingly, 43 per cent save less than 20 per cent of their post-tax income.This becomes even more pronounced among those aged between 30 and 45, with half of this group saving insufficiently.The survey also reported that nearly 40 per cent of HNIs have at least one active loan, placing financial strain on their ability to plan for crucial life events, such as retirement or children's education.
Despite their wealth, many HNIs have ambitious goals. Seventy-five per cent express a desire to fund their children's education or marriage, while 40 per cent aspire to purchase a home or start a business.However, the survey indicates that few of these individuals possess a structured financial plan to realise these dreams.Furthermore, over half of HNIs allocate more than 20 per cent of their wealth to real estate (excluding their primary residence), yet only a third invest similarly in equities.A concerning finding of the survey is that 14 per cent of HNIs do not maintain an emergency fund, and nearly a quarter are unfamiliar with global investing.While 87 per cent of HNIs rely on external financial advisors, two-thirds express dissatisfaction with the advice they receive.Many feel that their advisors promote products for commissions rather than providing tailored, insightful recommendations.One respondent told the surveyor, "The advisor doesn't fully understand my needs, and their recommendations are not tailored to my unique situation."Despite these challenges, an encouraging 82 per cent of HNIs believe that professional financial planning could help them achieve their financial goals more effectively. They seek advisors who can offer personalised asset allocation reflecting their specific goals and risk tolerance, assist in planning major life events, and deliver unbiased advice.To address the issues highlighted in the survey, a three-step solution has been proposed: free personalised goal planning and asset allocation, access to diversified portfolios that include global equities, and continuous support throughout the investment journey. In a nutshell, the survey underscored the urgent need for HNIs in India to save more, diversify their investments, and seek reliable, personalised financial advice. Only by doing so can they hope to turn their aspirations into reality, it said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
9 minutes ago
- Hindustan Times
Dream11, MPL, other fantasy apps face uncertain future as Online Gaming Bill clears Parliament
The Rajya Sabha on Thursday cleared the Online Gaming Bill, 2025, outlawing money-based fantasy apps, poker, rummy and other games, dealing a heavy blow to India's $3.8 billion gaming industry. Promotion and Regulation of Online Gaming Bill, 2025 prohibits 'harmful' real-money gaming services, along with related advertisements and financial transactions, with the government citing risks of psychological distress and financial loss. (Pic for representational purpose only) The bill prohibits 'harmful' real-money gaming services, along with related advertisements and financial transactions, with the government citing risks of psychological distress and financial loss. While it is not immediately clear which apps will be directly impacted, the move poses a threat to India's gaming industry, one that has attracted global investors and nurtured homegrown fantasy platforms such as Dream11, Games24x7 and Mobile Premier League, Bloomberg reported. The Online Gaming Bill was passed in the Lok Sabha on Wednesday without a debate as Opposition members raised slogans demanding a discussion on the special intensive revision of electoral rolls in Bihar by the Election Commission. An online money game is one in which a user deposits money in the expectation of winning monetary and other enrichment. Endorsements by top cricketers and film stars have incited interest in real money gaming apps such as fantasy sports betting games offered by Dream11, Games24X7, and Mobile Premier League. There is a realisation that online gaming has become a major problem for society, PTI quoted a senior official as saying, adding that the government has decided to keep the welfare of people above revenue loss from its ban. Indian apps which are expected to be impacted by Online Gaming Bill 2025 Dream11: Dream11 commands a valuation of $8 billion. In fantasy cricket games on Dream11, users create their teams by paying as little as ₹8 (10 US cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The app becomes more popular during the Indian Premier League season. Mobile Premier League: MPL is valued at $2.5 billion, PitchBook data shows. Other apps likely to be impacted My11Circle Howzat SG11 Fantasy WinZO Games24x7 (parent of My11Circle and RummyCircle) Junglee Games (covers Rummy & Poker) PokerBaazi GamesKraft (also known as RummyCulture) Nazara Technologies (investor in PokerBaazi, though its direct RMG revenue is minimal) Bloomberg News reported that Dream11 and Mobile Premier League declined a request to comment. Why did government bring the bill? Union minister of electronics and information technology Ashwini Vaishnaw told PTI that online money gaming has become a serious social and public health issue, with a proven significant negative impact on society. "Our endeavour is to promote eSports and social gaming, online social gaming, and we would like India to become a game-making hub. For that, a lot of efforts are already being made," he said. The minister said, so far, as digital technologies go, online gaming has emerged as a 'major secto' with three main segments. "Two segments, eSports and online social gaming, are good for society. We are promoting two out of three segments... These two will get legal recognition and they will be promoted. And this bill will create an authority which basically creates programs and schemes which promote eSports and online social gaming," Vaishnaw said. The third segment, online money gaming, is causing harm to the society, he said, adding that this has emerged as a major social and public health problem. There is a realisation that online gaming has become a major problem for society, PTI quoted a senior official as saying. The official added that the government has decided to keep the welfare of people above revenue loss from its ban. Is it punishable under the new law? Yes. With the nod from both houses of Parliament, offering or facilitating online money gaming will now be punishable by imprisonment of up to three years and/or a fine of up to ₹1 crore. The bill also seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games. Advertising of money games can attract imprisonment up to two years and/or fine up to ₹50 lakh. Facilitating financial transactions related to money games can lead to imprisonment up to three years and/or fine up to ₹1 crore. Repeat offences attract enhanced penalties, including 3-5 years' imprisonment and fines up to ₹2 crore. Offences under key sections are sought to be made cognizable and non-bailable. (With inputs from Reuters, Bloomberg and PTI)
Mint
9 minutes ago
- Mint
Vedanta dividend: Metal & mining major announces second interim dividend of ₹16. Check details here
Vedanta Dividend: Anil Agarwal-led Vedanta Limited announced a second interim dividend of the financial year 2025-26 (FY26) after market hours on Thursday, August 21. The company's board approved a dividend of ₹ 16 per share, amounting to ₹ 6,256 crore 'We wish to inform you that the Board of Directors of Vedanta Limited (the 'Company'), at its meeting held today i.e. Thursday, August 21, 2025, has considered and approved the Second Interim Dividend of ₹ 16/- per equity share on face value of ₹ 1/- per equity share for the Financial Year 2025-26 amounting to c. ₹ 6,256 Crores,' the company said in a filing today. Vedanta's dividend record date, as earlier communicated by the company, stands as August 27, 2025. This means only those investors whose names appear on the Register of shareholders as on the record date will be eligible to receive the said interim dividend. To be eligible for the ₹ 16 interim dividend, investors need to purchase Vedanta shares at least one day before the record date, given the T+1 settlement mechanism for the Indian stock market. The company further said the interim dividend shall be duly paid within the stipulated timelines as prescribed under law.
Time of India
9 minutes ago
- Time of India
EAM Jaishankar reminds US that India buys oil from America too, left 'perplexed' by Trump's logic
External Affairs Minister S Jaishankar , addressing criticism over India's Russian oil imports, pointed out that China and the EU are larger buyers of Russian energy. He said India was merely working to stabilise global markets, as even urged by the US and questioned the logic behind the scrutiny New Delhi faces. "...We are not the biggest purchasers of Russian oil, that is China. We are not the biggest purchasers of LNG, that is the European Union. We are not the country which has the biggest trade surge with Russia after 2022. I think there are some countries to the South." "We are a country where the Americans have said for the last few years that we should do everything to stabilise the world energy market, including buying oil from Russia." Incidentally, India also buys oil from the US, and that amount has increased, he said. "So honestly, we are very perplexed at the logic of the argument that you had referred to..." The statements come after Jaishankar met Russian Foreign Minister Sergey Lavrov to discuss bilateral relations and prepare for the annual summit at the end of the year. India's foreign minister is on a three-day visit to Moscow for an annual bilateral dialogue, which is expected to pave the way for President Vladimir Putin's visit to the South Asian country later this year. India and Russia are looking to increase their annual trade by about 50% over the next five years to reach $100 billion, seeking to reduce tariffs as both countries see mounting tensions with the US, a top envoy said. Jaishankar said that the two countries must remove trade bottlenecks and reduce non-tariff barriers to reach the goal. Russia is India's fourth-largest trading partner, while India is Russia's second-largest. India has edged away from the US in the face of tariff threats. Prime Minister Narendra Modi hailed Putin as a 'friend' after a call with the Russian leader this week, and New Delhi has moved to bolster relations with China. Modi is set to visit China in late August — his first trip to the country in seven years — to meet President Xi Jinping. Trump and his administration officials have criticised India for its purchases of Russian oil, seeing the trade as helping Putin finance his war on Ukraine. Trump has imposed a 25% tariff on Indian goods and threatened to double it to 50% on Aug. 27 — a rate that would make India's $85 billion in annual US exports uncompetitive. "They're fueling the war machine, and if they're going to do that, then I'm not going to be happy," Trump told CNBC in an interview. He said that the main sticking point with India was that its tariffs were too high. Trade experts say Trump's tariff could badly hurt India's economy. Ajay Srivastava of the New Delhi-based Global Trade Research Initiative said he expected Indian goods exports to the U.S. to fall 30% in the current fiscal year ending March 31, to $60.6 billion from $86.5 billion in the 2025 fiscal year. India has defended its right to buy from the cheapest source, calling the tariffs 'unreasonable.' For India, the advantage of Russian oil is that it can be purchased at a discount, making it a key tool for keeping domestic inflation in check.
