More Thank Half Sinki Believe They can achieve Finacial Freedom de woh...Good Job and Thank u

[k1976]

Close to half of Singapore residents say they will never achieve financial freedom: Poll​

The index findings were gathered through an online survey of 3,000 Singaporeans and permanent residents aged 18 to 65 from April to June in 2024. ST PHOTO: KELVIN CHNG

Claire Huang
Senior Business Correspondent
Updated

Aug 26, 2024, 02:01 PM

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SINGAPORE - More than two in five people in Singapore believe they will never be able to achieve financial freedom based on their current trajectory, a poll has found.

Of the 3,000 people polled, 29 per cent said they will be able to achieve financial freedom, 27 per cent said they have already attained it, while 44 per cent said they will never be able to do so.

The top three reasons they cite for not being able to be financially free are: insufficient income, unforeseen personal or health circumstances, and job insecurity.

 

[k1976]

The findings were part of composite insurer Singlife’s second financial freedom index.

The index findings were gathered through an online survey of 3,000 Singaporeans and permanent residents aged 18 to 65 from April to June in 2024.

In 2024, respondents scored 58 out of 100 in the index. This is slightly down from the score of 60 in 2023.

 

[k1976]

Does it mean only Oppie Saw Hei see themselves in Forever Debt, Boss John?

 

[congo9]

island so wealthy but people can't afford to stay a good life.
What the costs ?

 

[k1976]

More than two in five – or 44 per cent – believe having children will slow them down in being financially independent. This group estimated that having children would keep them away from financial freedom by 15 years.

Of the rest, 33 per cent are neutral, and 22 per cent do not think having kids will slow them down.

The sentiment that having children will delay them financially is more prevalent among those aged 55 to 64, and among people whose youngest child is above the age of 16, and those with a high monthly household income.

 

[k1976]

island so wealthy but people can't afford to stay a good life.
What the costs ?

Because they dun know anything about economic

 

[k1976]

Half of the 3,000 surveyed believe they need more than $500,000 to raise a child here till the age of 21.
The index also found that more than half of those polled – 55 per cent – said they know how to get to financial freedom.
The remaining 45 per cent comprise people who are unsure and those who have never thought about this. Those unsure are usually aged 35 to 44, while those who did not think about becoming financially independent are usually women with low monthly household income.

 

[k1976]

When asked, Singlife said that based on the 2024 survey results, Singaporeans felt that financial freedom means the ability to lead a desired lifestyle without worry (21 per cent); free from debt obligations (19 per cent); having stable work to support lifestyle (12 per cent); and the ability to spend freely (10 per cent).

As for the amount to feel financially free, participants said they need about $612,000 in cash. This is an increase of 8 per cent from $566,000 in 2023.

Four in five polled aim to retire by age 65. Most believe they need $2,856 in living expenses per month to do so comfortably.

Meanwhile, one in five prefers to retire overseas, citing reasons such as the lower cost of living, slower pace of life and preferred weather. The top destinations are Malaysia, Australia, New Zealand and Thailand.

About three in five, or 57 per cent, are aware of or said they have life insurance coverage, while nearly two in five – 38 per cent – have critical illness protection.

 

[k1976]

island so wealthy but people can't afford to stay a good life.
What the costs ?

Many people are chasing the wrong thing

 

[k1976]

 

[k1976]

Recap 10yrs ago

 

[k1976]

钱途无量，Huat Big Big Hah

 

[k1976]

 

[k1976]

 

[nabeifuckpap]

How to achieve financial freedom when retards here keep voting PAP and falling for scams

 

[k1976]

 

[Sinkiesuk]

Work until u die. U die your own biz. Foriengers coolies have higher status than sinkie. Got e2i help u find job.

 

[k1976]

Still looking after u de woh

 

[congo9]

Many people are chasing the wrong thing

what can people chase,
Mental wealth ?

 

[k1976]

what can people chase,
Mental wealth ?

No lah , mental health
Alot sinki is 痴线 Saw Hei de woh