Diversify your retirement corpus across products to get a tidy sum at 60

In fact, you need to be more diligent if you're over 50 as there is a higher risk of losing your job, and in any case you have less than a decade to build a nest egg

While everyone looks forward to a peaceful retirement, that goal may prove elusive for those who don’t accumulate an adequate retirement corpus. A recent study by Max Life Insurance, in partnership with Karvy Insights, covering 1,800 respondents across 28 cities, paints a dismal picture of Indians’ retirement preparedness.

About 23 per cent said they have given no thought to retirement planning. Nearly 80 per cent feel they should have begun investing earlier. 56 per cent believe their savings will get exhausted within 10 years of retirement. And 45 per cent are banking on their children.

Starting late

Those who have crossed 50 must