A recent survey conducted by SingSaver has uncovered something interesting.
Half of Singaporeans surveyed plan to retire before the official retirement age of 62, and nearly two-thirds of them started to build their wealth before the age of 30.
The pandemic caused around 30% of the respondents to adjust their plans as the uncertainty caused them to realise the importance of saving and investing.
To achieve their retirement goals, 87% of Singaporeans own some type of investment, with the top investment products in the last six months comprising stocks, cryptocurrency, and bonds.
Despite their eagerness to invest, most have not forgotten how to save for a rainy day.
Seven out of 10 of the respondents saved 30% of their monthly income, and this habit is a useful one for building resilience during times of stress.
Saving money also provides you with the means to inject cash into the stock market at periodic intervals to grow your wealth....