Few Singaporeans dream of retiring young: survey
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It might come as little surprise that Singaporeans' top dreams include travelling and making money.
What would raise eyebrows: The fact that they rate doing charity work even above owning a car or starting a business.
And only three in 100 dream of retiring young, while barely one in four would want to live to be 100 years old.
This, at least, is according to a telephone survey commissioned by the Oversea-Chinese Banking Corporation Limited (OCBC) to discover what dreams people here would like to see come true in the next 10 years. Conducted by AC Nielsen, the survey involved 500 Singaporeans aged between 18 and 64.
On the list of top-ten dreams, "charity and volunteering work coming in at No 7 is surprising, as it shows how the usual assumption of Singaporeans as materialistic is not true", said Ms Ng Li Lian, head of marketing services at OCBC's Department of Consumer Financial Services.
Respondents cited doing mission work overseas and "building a free soup kitchen" for the needy as one of their goals.
One in two Singaporeans want to see the world. But only one in 50 would want to migrate.
In line with becoming a nation of lifelong learners, 23 per cent yearned to pursue further studies or interests such as calligraphy. And asked for their biggest regrets, nearly a third said they would have studied harder or further.
While 13 per cent want to buy landed property, only 9 per cent — who tended to be male, single or in the 18-to-24 age bracket — were interested in buying a car.
That retirement came low on the list of aspirations did not surprise Ms Ng. Financial freedom was the more impor- tant overarching theme for Singaporeans, she noted.
Asked what would be key in achieving their goals, the majority cited saving up or earning more money. Just 4 per cent of respondents opted to leave it to the luck of the 4D or lottery draw.
But, even as the nation grapples with longer lifespans and a later retirement age, only 26 per cent of Singaporeans would want to see their 100th year — men, Malays and those married with young children are more inclined to desire this.
The survey kicks off a series of "dialogues", via SMS, the Internet and more, by OCBC to understand Singaporeans' aspirations, so as to tailor its services and products to their needs.
And as part of this move, it will be publishing — on a quarterly basis — "Ask OCBC" booklets with information on how to achieve their dreams, such as travel ideas, home improvement advice, and financial tips.
Come Monday, 200,000 Today readers will receive free copies of the red booklet. Today is the only paper to be distributed with the English version of the booklet, the first edition of which will include a pull-out calendar, fridge magnets and family activities. - TODAY/ra
http://www.channelnewsasia.com/stories/singaporelocalnews/view/317149/1/.html -
can u ever retire in SG?
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To retire young, you need the money...
As a student, I'm only half my way to 100k savings.... Need to multiply 100k by 20 times to be able to retire early comfortably.... That is because if you have around 2 mil, you can earn fixed deposit equivalent to at 2.5k a month with 1.5% interest rate, an amount sufficient for the minimum of living. -
boy ah boy...you forgot about inflation.Originally posted by eagle:To retire young, you need the money...
As a student, I'm only half my way to 100k savings.... Need to multiply 100k by 20 times to be able to retire early comfortably.... That is because if you have around 2 mil, you can earn fixed deposit equivalent to at 2.5k a month with 1.5% interest rate, an amount sufficient for the minimum of living. -
Really pulling these biased surveys and polls out of their arses aren't they?
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Yeah. At the current rate of inflation, we'd actually be losing money if we let our savings rot in a bankOriginally posted by alwaysdisturbed:boy ah boy...you forgot about inflation.
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Why are they glorifying themselves so often these days, you think?? -
And those in red must be the fascists - and their minions - running this regime...Originally posted by mistyblue:It might come as little surprise that Singaporeans' top dreams include travelling and making money.
What would raise eyebrows: The fact that they rate doing charity work even above owning a car or starting a business.
And only three in 100 dream of retiring young, while barely one in four would want to live to be 100 years old.
This, at least, is according to a telephone survey commissioned by the Oversea-Chinese Banking Corporation Limited (OCBC) to discover what dreams people here would like to see come true in the next 10 years. Conducted by AC Nielsen, the survey involved 500 Singaporeans aged between 18 and 64.
On the list of top-ten dreams, "charity and volunteering work coming in at No 7 is surprising, as it shows how the usual assumption of Singaporeans as materialistic is not true", said Ms Ng Li Lian, head of marketing services at OCBC's Department of Consumer Financial Services.
Respondents cited doing mission work overseas and "building a free soup kitchen" for the needy as one of their goals.
One in two Singaporeans want to see the world. But only one in 50 would want to migrate.
In line with becoming a nation of lifelong learners, 23 per cent yearned to pursue further studies or interests such as calligraphy. And asked for their biggest regrets, nearly a third said they would have studied harder or further.
While 13 per cent want to buy landed property, only 9 per cent — who tended to be male, single or in the 18-to-24 age bracket — were interested in buying a car.
That retirement came low on the list of aspirations did not surprise Ms Ng. Financial freedom was the more impor- tant overarching theme for Singaporeans, she noted.
Asked what would be key in achieving their goals, the majority cited saving up or earning more money. Just 4 per cent of respondents opted to leave it to the luck of the 4D or lottery draw.
But, even as the nation grapples with longer lifespans and a later retirement age, only 26 per cent of Singaporeans would want to see their 100th year — men, Malays and those married with young children are more inclined to desire this.
The survey kicks off a series of "dialogues", via SMS, the Internet and more, by OCBC to understand Singaporeans' aspirations, so as to tailor its services and products to their needs.
And as part of this move, it will be publishing — on a quarterly basis — "Ask OCBC" booklets with information on how to achieve their dreams, such as travel ideas, home improvement advice, and financial tips.
Come Monday, 200,000 Today readers will receive free copies of the red booklet. Today is the only paper to be distributed with the English version of the booklet, the first edition of which will include a pull-out calendar, fridge magnets and family activities. - TODAY/ra
http://www.channelnewsasia.com/stories/singaporelocalnews/view/317149/1/.html
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retire for wat?! go for upgrade! go for retraining! make yourself useful!
live till 85! -
I think this survey is highlighting about Singaporeans dreaming of retiring not if they can afford to retire.
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who is stupid enough to believe this crap.....
my uncle living in canada just retired this year and he is only 55. he's enjoying life now, playing golf and fixing his brand new house!!! -
i dream of retiring tomorrow if i suddenly become filthy rich...
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btw, did any of you guys realise this is an "info-story" sponsored by OCBC?
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will neber happen or unrealistic tts why have to "dream"
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well, dreaming is freeOriginally posted by FireIce:will neber happen or unrealistic tts why have to "dream"
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you got 50k saving?Originally posted by eagle:To retire young, you need the money...
As a student, I'm only half my way to 100k savings.... Need to multiply 100k by 20 times to be able to retire early comfortably.... That is because if you have around 2 mil, you can earn fixed deposit equivalent to at 2.5k a month with 1.5% interest rate, an amount sufficient for the minimum of living.
how old are you?
what you work as? -
Hello, it is a luxury to retire young in Singapore. Our ministers want us to work till old or may be till we die.
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Live till 85, wow you so special can decide how long you want to live up to.Originally posted by FireIce:retire for wat?! go for upgrade! go for retraining! make yourself useful!
live till 85! -
Lau peh go money beh sai see boh?Originally posted by Seven_Dragon:you got 50k saving?
how old are you?
what you work as? -
24Originally posted by Seven_Dragon:you got 50k saving?
how old are you?
what you work as?
hmmm, did attachment before for 800/mth for 8 mths, got a 3 yrs scholarship with allowance, taught tuition for a few years during and after army lor.... about there lor... I spent a lot already; the savings was the remaining
ya I forgot about inflation, given the way our government handle things now...
However, I still have a 24k debt to my dad's CPF for my uni sch fees, which I think I might pay slowly off instead of paying it immediately... -
I wonder how much savings you actually haveOriginally posted by Gazelle:Lau peh go money beh sai see boh? 
my lao peh only help to manage money by putting them in fixed deposit by combining every family member's savings, last year was about 2.89% interest, the following year will drop to 2.5%... -
so is talkOriginally posted by the Bear:well, dreaming is free -
so is posting without peeOriginally posted by FireIce:so is talk
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thought talk was cheap.. not free but cheapOriginally posted by FireIce:so is talk
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Most of the peasants are programmed to study, work, breed, retire and die.
Dun think they are able to accept a early retired life of sitting around.
We are programmed to work, work and work so that we can stock up reserves.
But, we dun know what to do with the reserves.
That is why our great poodles have decided that they should be paid with the reserves themselves shamelessly in a very leegalised way.