Personal Finance
Breaking Down “2 in 3 working Singaporeans do not have savings to last them beyond 6 months”
By Investment Stab  •  June 5, 2020
We are going to break down the whole survey released by OCBC recently that caused quite a hoo-ha in Singapore. Instead of looking at the Straits Times article, we will be looking straight at the source: the OCBC Survey.
Survey Demographics
The survey was conducted mid-May, 1.5 months into the Circuit Breaker period.
Reducing Investments
"40% saying they (the respondents) intend to reduce their investments." The survey didn't go into detail why the respondents were reducing their investments (could be to buy a new car, pay for child's education, etc.). But, 54% of the respondents did say they were worried about their portfolio, so it is safe to assume they probably are reducing their investments because they are worried their portfolio value might drop. Everyone has different cashflow and financial needs to meet, hence it is normal to reduce their portfolio. However, if one is reducing their portfolio to get cash to pay for their daily expenses during crises...
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By Investment Stab
We are a group of Singaporean students who are curious and interested in Finance. As we dive deeper into this area in search of more knowledge, the more debates and differences we have. We also realised that financial literacy is not strongly inculcated in the younger generations, leading to numerous costly mistakes. Some of such includes believing in "high profiting" scams such as land banking and buying unnecessary investment schemes which are often motivated by the salesperson's personal interest ...
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