- Women in Singapore worry about long-term economic prospects and seek post-retirement solutions.
- Fidelity Global Women & Money Study 2023 highlights financial issues of concern for women in Singapore.
- The study reveals a lack of financial confidence and a need for education to improve financial literacy.
Aiyo, just read some study, right? Fidelity Global Women & Money Study 2023 say many women in Singapore worry about long-term economic prospects. And also need good post-retirement solutions.
Wah, The Numbers Don’t Play Play
Some more this survey talk so much about women wor, got say like 89% of our sisters worry about rising cost of living.
Then 80% of them scared for their future and 75% don’t know how to save and invest!
Retirement? Not So Shiok For Sisters!
So, the retirement age in Singapore 63 years old lah.
Most of the women can expect to retire for about 23 years.
But wah lau eh, 40% say cannot last for 20 years!
20% don’t even know how long their money can last, siao or not?
Need More Education, Can?
Sabrina Gan from Fidelity International says, “Our survey finds that women in Singapore tend to focus on what they have more control over, such as reducing expenses, working for longer, and topping up savings, to help increase their income in retirement.”
Then got 39% of our sisters say better education about finance can help them reach financial goals, you know?
Ok Lah, So Now What To Do?
We need to change our mindset, not cincai (anyhow) only when it comes to our money, especially for retirement.
Work hard to learn and improve our financial knowledge – this is step one!
Wanna Invest Or Nah?
As we said, only 31% of women think that investing is for them.
But hey, why give up, sisters? Give it a shot, learn about different investment options and start small.
Don’t just stick to cash savings and insurance – diversify lah!
Bro, Trust The Experts!
Sometimes, we feel scared or blur-blur (clueless) about our financial future. But not to worry, lah.
Got experts out there who can help one!
Go get proper professional financial advice and guidance – this way, we can be more prepared for the future!
No Scared, Just Support!
Lastly, we know that women are more conservative when it comes to expected investment.
Um, that’s good and all, but ahh, sometimes we need to step out of our comfort zone, you know?
Encourage and support each other in the journey to achieve financial freedom and independence, ok sisters?
Actionable & Practical Takeaways
- Try and learn more about managing finances – got many resources, like websites and books out there, or ask experts for help.
- Look into long-term investments, one way to grow your money a bit, don’t only keep cash savings.
- Plan for retirement early and keep track of savings – better to know than to be caught off-guard.
Ok lah, so to wrap it up – we know it’s quite jialat lah, this whole money issue for our dear sisters.
But hey, like the saying goes, “where got problem cannot solve one?”
What’s important is to keep learning, staying positive and supporting each other, alright sisters?
Join hands, lah! We, together, can conquer our financial fears and achieve the financial future we want!
Wanna share your financial experiences, tips or ideas to help each other?
Tell us, leh! Comment below and let us all grow together! Ok, no need shy-shy, come on!
Source: Fidelity Global Women and Money Study 2023: Women in Singapore worry about long term economic prospects; seek post-retirement solutions to overcome longevity and financial challenges.