Monday, February 24, 2020
Martin Hennecke

Nest egg plans perplex affluent
Affluent Hongkongers have big plans for retirement but feel they lack proper financial knowledge and investment advice to get sufficient returns on their investments, according to a survey by Standard Chartered (2888). About 63 percent of respondents indicated they have started planning for retirement but only 36 percent said they were financially on track to achieve the retirement lifestyle they desire, the lowest among the five markets surveyed. The study was conducted on 1,000 economically active affluent individuals aged 35 to 59 from China, Hong Kong, Malaysia, Singapore, and Taiwan. Affluent locals flagged the unfavorable global financial climate (50 percent), lack of investment opportunities that generate adequate returns (46 percent) and lack of financial knowledge (44 percent) as the top three challenges.
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