A study by Edelweiss Life Insurance reveals that 60% of India’s Sandwich Generation feels their savings and investments are insufficient for the future. The study, conducted with YouGov, surveyed 4,005 individuals aged 35-54 across 12 cities to assess financial preparedness.
The Sandwich Generation financially supports both ageing parents and growing children. While they prioritise essentials such as healthcare and education, they also aspire to maintain a high standard of living. However, financial stress remains a significant concern, with over 50% expressing fears of running out of money or feeling behind in financial planning.
Despite 94% claiming to have some level of financial planning, only 60% actively invest in preferred categories such as life insurance, health insurance, mutual funds, equities, and bank fixed deposits. The study found that many prematurely liquidate investments, often for non-essential expenses like vacations and festive spending.
While 79% expect to rely on financial returns for long-term goals, including retirement, 64% use credit for short-term needs, and 49% tap into savings. This reliance on credit highlights a financial gap that may impact future stability.
