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54% said they do not have enough in their retirement funds to finance their lifestyle once they stop working
The covid pandemic has forced people in Hong Kong and Singapore to reassess their relationship with money and their saving habits.
St James’s Place Wealth Management Asia surveyed over 2,000 people in Hong Kong and Singapore and found almost half of people (45%) in the two regions are not comfortable with what they have managed to set aside for retirement.
Around 51% have increased the sum they save every month, but many said that high costs of living (44%) and a lack of discipline with money (35%) are preventing them from saving more.