Have you planned for your retirement? No, say most UAE NRIs

investment2Risk aversion, lack of professional financial expertise and over-reliance on family is leading to poor retirement planning among the UAE-based Non Resident Indians (NRIs) community, said a recent study.

According to the Standard Life NRI Wealth Study that examined the financial habits and investment behaviour of NRIs, only 10 per cent have invested in retirement plans while 75 per cent expect their children to support them.

Out of the 300 respondents surveyed across the UAE, 26 per cent of retirees will return to India and 24 per cent had plans to settle down in a third country.

Another 22 per cent said that they will continue working in their retirement years.

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