Page 26 - Banking Finance July 2024

ARTICLE

GROWING

GREY AND

GORGEOUS

G rey and Gorgeous - was the famous tag line and wants and above all, to fulfill their aspirations. To

maintain such level of style, saving diligently from the early
picked up by Dove Soap ( of Unilever stable) for
stage of life and investment judiciously in right mix of
their advertisement to compete with LUX( meant
for younger generation). The target audience of
essential benchmarks. It is observed that savings and surplus
Dove was aging untapped population of India. It is the products/schemes with the specified target amount are two
segment of population who are growing in number. They funds accumulated at younger ages are mainly utilised in
constitute almost 11% of Indian population being aged 60 the purchase or funding of accommodation, cars, own
years and above. These are the citizens who are having wedding and children education. It is that stage of life in
enormous purchasing power, have a taste and choice for which outgo surpasses inflows sometimes. Burrowing and
sumptuous foods and beverages, latest fashionable clothes loans take care of this gap. It is the Accumulation stage of
and garments and above all, a great chunk of surplus fund financial habits. Next comes Consolidation phase when
or disposal income earned during their professional life as income handsomely surpasses expenses. People start
entrepreneurs, self employed or salaried class. At one go, planning regarding their twilight years in terms of
they are moulded as Initiator, Influencer, Buyer and Retirement Solutions and Health Insurance.
Beneficiary in the World of FMCG and the Planet of Financial
In fact, it requires three pronged strategies like
Investment.
A) Regular monthly income to meet regular expenses,
The aging population has their choicest foods, befitting B) A Retirement Corpus to meet sudden unfortunate need,
dresses and required medicines and the right kind of financial
C) An Exhaustive Health Insurance Plan.
products to take care of their standard of living, the needs
At no point of time, Senior Citizens should leave the habit
of saving and Investment. It will take care of rising inflation
About the author
which is assured to be approximately 6% . Other than this,
savings in twilight years will take care of Tours and Travels
Arup Dasgupta ( a long cherished foreign land or a place of scenic pristine
MBA. FCMA. FIII. beauty within the country) or some candle light dinner with
ESG Certified Professional.
Corporate Governance Consultant your soulmate, a long pending pilgrimage or indulging in
some social works towards a noble cause.

24 | 2024 | JULY | BANKING FINANCE