The survey found that while Singaporeans saved regularly, had insurance coverage and stuck to a budget, many still lag behind when it came to growing their wealth through investing or building funds for a rainy day or retirement. In addition, about a third of respondents said that they thought of investing as a form of gambling – a view deemed worrying by the bank.
SINGAPORE (July 15): The good news is that while the average Singaporean has embarked on his journey towards financial wellness, it’s going to take some time for him to reach his destination.
This is according to OCBC Bank, which has launched Singapore’s first Financial Wellness Index - a survey of Singapore’s state of financial health with an inaugural sample of 2,000 working adults aged 21 to 65.
