DBS’s Feb 12 report comes after analysing aggregated and anonymised data of around two million DBS and POSB retail customers as at June 2024.
A 25-year-old aiming for a retirement goal of between $550,000 and $1.3 million will need to invest between $360 and $850 per month, assuming an annual return of 5%.
Despite this, Gen Zs and millennials are the least invested among all pre-retirement age groups, according to a new study by DBS. Those aged 25 to 44 allocate just 15% to 17% of their salaries to investments, and over half of investments are allocated to fixed income, which generates lower returns.
