Goals of Millennials are changing
The change in lifestyle and increase in revenue are changing the goals of millennials. Social media and movies are also influencing their goals. The survey of Bajaj Allianz Life Insurance Co. Ltd. has revealed this.
The survey report titled ‘India’s Life Goals Preparedness Survey’ indicated that one in five goals is inspired by social media sites.
These goals include travelling abroad and focusing on health and fitness.
Interestingly, movies are also playing a crucial role in influencing the millennials. Goals like owning a high-end car or upgrading to the latest one are inspired by movies.
The impact of external factors like news, social media, movies or books is increasing the goals of the millennials.
At the same time, retirement planning and owning a house continue to be influenced by family and friends.
The retirement goals are in the top five for 42 per cent millennials in the country as per the survey report.
However, financial planners have a different opinion on this.
Some of them say that most millennials save less than 10 per cent of their income and they do not think further than their next purchase.
While other financial planners are saying that most of the millennials actually do not know how much money they require for their retirement and youngsters who save money also are investing in wrong instruments that do not have flexibility. This will do more harm than good in the end.
The surveys that were conducted in five metros and eight non-metros among the work profiles revealed several interesting things.
The goals of earning women have a significantly higher inclination towards travel and health and fitness compared to men. One in three women has travel-related goals, whereas two in five have goals related to health and fitness.
Nearly 50 per cent of women want to have a balanced life.
One in every 10 Indians has a philanthropy-related goal as per the survey.
Most people preferred life insurance as their investment option for 60 per cent of the life goals due to the vast reach of the insurers.
Bank deposits and mutual funds are in the next two places.
Image Credit : ScooterGenius / CC BY 2.0
You may also like
Image Reference: https://www.flickr.com/photos/145362372@N03/46067529652
Recent Posts
- Akvo’s atmospheric water generators turn air into a water sourceAkvo’s AWGs work on a condensation-based system, similar to how dew forms on surfaces in the early morning.
- No fee for changing travel date from 2026: Indian RailwaysWith this reform, Indian Railways aims to reduce financial stress and booking anxiety for passengers.
- Navi Mumbai Airport: India’s next aviation powerhouseIndia is on the cusp of a major infrastructure revolution with the Navi Mumbai International Airport. Touted as a transformative project, it promises to redefine connectivity, ease congestion, and fuel economic growth across the region.
- Akvo’s atmospheric water generators turn air into a water source
What’s new at WeRIndia.com
News from 700+ sources
-
Protests held in Mysuru against attack on CJI
-
Organised Gold Loan Market to Touch Rs 15 Lakh Crore This Fiscal
-
Cong Should Tell Nation Who Prevented Military Retaliation After 26/11 Attack: Modi
-
Tourism stakeholders raise alarm on attack on tourists
-
KTR flays govt. over non-payment of rents for welfare Gurukul buildings
-
AP Chambers urges Chief Minister to release incentives for MSME and food processing sectors
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply