Singaporeans want to invest more, but life’s financial demands hold them back: Survey

SINGAPORE – Singaporeans are more likely to ramp up investing after they get their first full-time job than their peers in Hong Kong and Australia, but major life expenses, such as buying a first home, can slow their investing momentum as they shift their focus towards financial security.

A new survey found that 65% of Singaporeans who cited their first job as their biggest financial milestone invested more later, compared with 49% in Hong Kong and 42% in Australia.

The survey was commissioned by digital wealth management platform Syfe and conducted by YouGov among 1,212 adults in Singapore, as part of a wider study of 3,315 respondents across Singapore, Hong Kong and Australia in late September and early October 2026.

The survey showed a desire to invest: About 50% of respondents in Singapore and Hong Kong want to invest more than they do now, while the number is higher in Australia at 61%.

As Singaporeans enter their 30s, 40s and 50s, their financial priorities become more complicated as buying a home or raising children can add considerable pressure on household finances.

Across the three markets surveyed, 54% reduced their investments after purchasing their first home, while 50% did so after having their first child.

In Singapore and Hong Kong, supporting ageing parents adds another financial responsibility.

All respondents cited the fear of losing money as their biggest hurdle to investing, followed by insufficient funds and a lack of investment knowledge.

For Singaporeans, stability is their top investment priority, and they place less weight on growth than investors in Hong Kong or Australia.

That preference has shaped how Singaporeans plan to invest. Among those who put stability first, 54% are likely to put their money in fixed deposits, while 40% prefer equities.

For those who prioritise growth, 61% are likely to invest in equities.

Singaporeans in the 25 to 34 age group are more likely to prioritise growth over stability, but only 13% of those aged 55 and over put growth first.

Singaporean women are less likely than men to rank growth as their first investment priority.

One of the more striking findings is the decline in investment confidence among older Singaporeans.

Unlike Hong Kong, where confidence is highest among those aged above 55, Singapore and Australia show the opposite pattern.

In Singapore, 40% of those aged 18 to 24 said they were extremely or very confident about making investment decisions. The proportion fell to just 12% among those aged above 55.

The gender divide is also pronounced.

Singapore recorded the widest investment confidence gap among the three markets. While 35% of men said they were extremely or very confident about investment decisions, only 13% of women felt the same.

Women were also twice as likely as men not to invest, at 32% against 15%. They tend to worry about losing money and fear a lack of investing knowledge.

Among Singaporeans who already invest, men are also more confident than women.

As retirement approaches, the focus shifts from accumulating wealth to ensuring that savings can support a longer period of financial independence.

Yet many Singaporeans appear uncertain about how much they actually need.

The survey found that 76% of respondents here believed their retirement savings were below what they expected to need.

More concerningly, a third had never calculated their retirement savings target, while 40% have a retirement plan or simply picked a round number that felt right.

How people set their target matters, the Syfe report said.

Those who picked a round number aim lower than those who worked it out.

In Singapore, those who picked a round number have a median target of $700,000 to $999,999. This compares to $1 million to $1.99 million for those who based their target on their expenses. Hong Kong and Australia show the same pattern.

The average retirement savings across all sources, including CPF, rise with age. Gen Z – or those 14 to 29 years old – have an average of $61,000 in savings, compared with $192,000 among millennials (aged 30-45), and $455,000 among baby boomers (62 to 80 years old) and older.

Only 15 per cent of Singaporeans were working towards a traditional full retirement. The most popular aspiration was semi-retirement, at 27 per cent, while 13 per cent said they did not plan to retire at all.

This reflects changing attitudes towards retirement, with many expecting to continue working in some capacity rather than stop earning altogether.

Having a financial plan appears to make a difference to confidence. Singaporeans with a retirement plan were nearly twice as likely to feel confident about investing as those without one, at 32% versus 17%.

The survey highlights a broader challenge that while Singaporeans may recognise the importance of investing, many lack the confidence, financial clarity or resources to act on that intention.

Ultimately, investing is not a one-time decision made at the start of a career. It requires individuals to reassess their priorities as they buy homes, raise families, support parents and prepare for retirement, the survey suggests.

For Singaporeans, the challenge may not be persuading them that investing matters, but helping them feel sufficiently informed and confident to take part – and stay invested through the different stages of life.

Source: The Straits Times https://www.straitstimes.com/business/singaporeans-want-to-invest-more-but-lifes-financial-demands-hold-them-back-syfe-survey?ref=latest