Every year, we ask people like you how they think and feel about their financial health. This year, we went deeper than ever to understand the connection between your wealth and well-being. And why you feel the way you do.
We explored if money could make you happier. But not in the way you think.
We polled over 27,000 people across 13 markets – including around 1,500 in Singapore – asking questions about financial and investment management, retirement planning, and overall sense of well-being.
In every market we heard from, the relationship between wealth and well-being is different
In Singapore, money is the #1 source of stress – especially with millennials
53% said money was the top source of stress in their lives – increasing to 63% for millennials.
Retirement is the top financial goal
48% describe preparing for retirement as a financial goal and 42% cite accumulating enough money to retire or retire early as a financial goal.
Almost half are behind where they thought they would be
47% of the respondents said that they are behind where they thought they should be in terms of financial health
Women and millennials in Singapore are keen for more guidance to be able to invest.
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The benefits of investing are both universal and attainable.
People can take care of their financial health the same way they take care of their physical health. There are small ways they can start:
Take control of your retirement plan
Retirement planning provides peace-of-mind. Those who have started saving for retirement are much more likely to report a higher sense of well-being.
Think ahead to your retirement. What kind of life do you want to have? Consider how much you will need to achieve that lifestyle.
Think ahead to your retirement. What kind of life do you want to have? Consider how much you will need to achieve that lifestyle.
Start small, start early
42% don’t think they don’t have enough money to invest for retirement. .
Appreciate the power of compounding. Consider investing small and regular amounts early. Not only will it help to build your confidence as you learn the ropes, you can also enjoy the snowball effect of generating earnings on earnings. .
Find a good advisor
21% of people in Hong Kong were prompted to save for retirement because a professional advised them. Talking to someone else can help you clarify what you want and what you need to do.
Consider speaking to a professional financial advisor who can help you make a financial plan that balances your long-term and short-term needs
So, can money really make you happier?
Not exactly. But no matter where you are in the world, being confident, in control and invested helps.
Now’s the time to take action and get started.
Find out more about the Global Investor Pulse
The world’s largest study on the relationship between wealth and well-being.
