AXA IM Voices
A first hand look at Singapore attitudes to money, investing and the future
A new tomorrow
Over the past 10 years, Singapore has endured not only the repercussions of the global financial crisis but also the economic gyrations of its neighbours. These factors have exacerbated the challenges the country currently faces, such as an aging population, unemployment and a rising cost of living.
Achieving a sufficient retirement income, having a safety net and being cared for in old age were the top three financial goals cited by those surveyed. But while these aims are focused on the long term, only 35% of respondents said they currently hold an investment product, meaning that, over time, there could potentially be a gap between what people are hoping to achieve financially and what they actually end up with.
In this analysis we take a look at peoples’ attitudes to saving, planning and investing for the future, with a view to better understand how we can help them reach their financial goals.
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This survey was carried out by GFK, during June 2018, on behalf of AXA Investment Managers. We interviewed more than 1000 adults.
Rosier than the present
Only 40% are confident about their present financial situation but it rises to 54% when asked about their expectations three years from now.
Financial advice: Still a core need?
Financial adviser is the main source for advice, followed by the internet and information from banks and investment professionals.