In fact, millennials are more tolerant of risk in their financial strategies than their older peers, with 72% saying they will need more investments to ensure their savings will be adequate to last for their lifetime. In contrast, 58% of individuals aged between 55 and 65 felt this way.
Three in five or 61% of Singaporeans aged between 25 and 34 are confident of having enough funds to support themselves and their family during retirement.
This optimism comes as millennials are diversifying their savings across multiple financial instruments such as fixed deposits, life insurance, health insurance, real estate and other investment products.
