How Indians think they can generate wealth?

In a recent survey conducted by PGIM India Mutual Fund on the retirement readiness of the Indian population, over 3000 respondents shed light on their financial aspirations and strategies for wealth creation. The survey encompassed a variety of questions, but one in particular captured the essence of Indian financial dreams: “How do you think you can create wealth to achieve all your financial goals?”

The results, while not entirely surprising, because most of us also fall in any of the categories they mentioned below.

  • High Return Investments: The Preferred Path
    • A staggering 50% of respondents believe in the power of “high-return investments” as the primary means to create wealth. This inclination suggests a widespread eagerness to explore financial instruments that promise substantial returns. The allure of multiplying one’s wealth through strategic investment seems to be deeply ingrained in the Indian financial psyche.
  • Climbing the Corporate Ladder: A Stepping Stone for 36%
    • For 36% of respondents, the pathway to wealth creation involves ascending the corporate hierarchy. The ambition to attain higher positions in their current jobs reflects a keen understanding of the correlation between professional growth and financial prosperity. This group prioritizes career elevation as a means to secure a more substantial income.
  • Monetizing Hobbies: A Creative Approach for 22%
    • In a testament to the changing dynamics of wealth creation, 22% of respondents plan to monetize their hobbies. This trend suggests a shift towards recognizing the economic potential of personal passions, emphasizing a desire for more fulfilling and enjoyable sources of income.
  • Tax Planning for Wealth Accumulation: A Consideration for 30%
    • Approximately 30% of participants believe that saving money through strategic tax planning is a key element in their wealth creation strategy. This pragmatic approach indicates a conscious effort to maximize savings by leveraging the available tax benefits.
  • Financial Planning: A Strategic Move for 24%
    • A commendable 24% of respondents prioritize having a comprehensive financial plan as their chosen route to wealth creation. This group recognizes the importance of strategic planning and goal setting in achieving financial milestones.

Income Disparities: Tailoring Strategies Based on Earnings

The survey further classified respondents into two income brackets: those earning less than 75,000 per month and those earning more than 75,000 per month.

For individuals earning less than 75,000 monthly, the focus is predominantly on generating high returns and achieving financial security. In contrast, those with a higher income level pivot towards nuanced goals like climbing the corporate ladder and generating passive income.

Age and Occupation Dynamics

The research uncovered intriguing correlations between age, occupation, and wealth creation goals. Individuals worried about retirement preparedness and young, self-employed individuals are more likely to prioritize ‘generating high/maximum returns.’ On the other hand, goals like ‘starting a new business/venture’ are predominantly reported by young (26-40 yrs) and older businessmen and self-employed consumers.


The PGIM India Mutual Fund’s survey provides valuable insights into the multifaceted strategies Indians employ to achieve their financial goals. From traditional high-return investments to innovative approaches like monetizing hobbies, the survey highlights the diversity of thought prevalent in the Indian financial landscape. Understanding these varied perspectives is crucial for financial institutions and policymakers seeking to support individuals in their wealth-creation journeys.


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