Insight 3

Youths see the importance of retirement and to generate a passive income for it. However they are afraid to start investing

16-25

26-40

>40

57.8% think it is appropriate to save for retirement around the age of 26-40

"I want to start early or when I have started working."
-Leticia

"I think it is when you get a financially stable job"

-Owen

"It means I don't have to work to support my household, where like you have a bunch of money to sit there and run by itself."

- Yucheng

"So I think it would mean living financially sound and comfortably in the future."

- Ryan

"Means I don’t have to work anymore and can get income every month, that's retirement for me."

-Daron

" As soon as possible ah, but I haven’t thought of my retirement plans yet, I just want to retire young."

- Daron

"I feel that just depending on the CPF Payout is not enough , I would need to have a separate fund for it.

- Leticia

" I guess all those investments right now are towards retirement but I have no specific plan."

- Yucheng

42.7% attempted investing

57.3% have not attempted or planned for investing

They are clueless about investing

52.9%

Interviewees were asked what deterred them from investing

"No, I am scared to go broke."
-Leticia

" I also do not have much knowledge on investing."

-Loh Chuan Ren

High percentage are eager to learn and invest.

75.4%