New Delhi, July 19 -- The recent Dun & Bradstreet India survey, conducted with Marcellus Investment Managers, has sparked considerable debate in wealth management circles.

The numbers are striking: 43% of India's high-net-worth individuals (HNIs) save less than 20% of their post-tax income, and a significant portion don't have sufficient emergency cash.

For those not familiar with HNI finances, these findings may appear counterintuitive-even troubling-given their wealth. But having worked closely with affluent families for years, I believe the data reflects a more nuanced reality than simple financial imprudence.

Beyond traditional saving metrics

To understand why HNIs appear to be "under-saving", we must redefine what savings mean in...