6 out of 10 Singaporeans are seriously worried about having too little money in their old age, but only 1 in 10 has actually saved for retirement in the past year.
These are among some alarming statistics to emerge from an HSBC global survey of people’s attitudes towards ageing and retirement.
The survey covered more than 21,000 adults in 20 countries and territories, including 1,000 adults aged 18 and above in Singapore.
Many of the findings are rather alarming.
Some 40 per cent of those surveyed here said they have never saved specifically for retirement and 62 per cent have never sought information on retirement planning.
8 in 10 said they have not made a will, despite the fact that almost the same proportion of the respondents are aged 30 and above.
Almost 80 per cent said they have never made arrangements for care in their old age, although more than half of the respondents are aged 40 and over.
This trend sometimes makes me ponder and think….
As a financial associate, I see this statistic as a proof that there are a lot of people out there who will need my service, and here I am to render my service to you.
If you are one of the, you can call me or drop a message for me to meet you and conduct a full scale financial needs analysis with you 🙂
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