Majority of the affluent looking to retire are not financially on track yet.
This is according to a recent Standard Chartered Survey.
This Standard Chartered Survey covers 1000 respondents across 5 different countries China, Hong Kong, Malaysia, Singapore and Taiwan. The survey asked 200 respondents between the age of 35 to 59 years old, from each of the countries.
If I invert what the survey concluded, the result is quite interesting.
57% of affluent Singaporeans respondents (114 people out of 200 people) did not indicate that they are on track to the desired retirement they wish for. 36% of affluent Singaporeans have not started planning for their retirement.
For those 43% of affluent Singaporeans who indicate they are on track:
70% of them invest in stocks, bonds and unit trusts 47 per cent have put money in government retirement savings schemes 42 per cent have invested in property for rental