Encouragingly, an overwhelming majority (87%) of Singaporeans own some form of investment, with three in 10 investing more than 30% of their income each month.
The Covid-19 pandemic has not deterred Singaporeans from reaching their financial goals as one in two plan to retire below the official retirement age of 62, according to a new survey by personal finance platform SingSaver.
It also found that 63% of Singaporeans started to actively build their wealth before the age of 30. Singaporeans also remain on track to achieving their wealth accumulation goals, with 35% projected to reach $100,000 in savings and investments in the next five years while 22% expect to hit $500,000 within the same time frame.
