Our study of 1,000 economically active affluent consumers aged 35 to 59 in China, Hong Kong, Malaysia, Singapore and Taiwan shows that travel tops the list of retirement goals, but also reveals significant differences in approaches to retirement planning across the five markets.
The majority have started planning
On average, 67% of the respondents to our survey indicate that they have started retirement planning, with Malaysia and Singapore ahead of their peers. Despite this, only slightly more than half of those surveyed feel that they’re financially on track to achieve the retirement lifestyle they desire.
Many see challenges
High-earning consumers across China (60%), Taiwan (55%), Malaysia (55%) and Singapore (53%), don’t feel sufficiently aware of how to generate adequate returns. The unfavourable global financial climate is top of mind for those in Hong Kong (50%). Other challenges highlighted by respondents include a lack of financial knowledge and access to trusted financial advisors.
"Making the right financial decisions has never been more important. We want to ensure that all our clients have the knowledge to make informed decisions to grow their wealth and realise their dreams."