Singaporean's DIY approach to financial planning is really pathetic. According to HSBC’s 'The Future of Retirement' report:
- Half of those 30-39 do not have any short-term savings (probably spent it all away).
- Only 30% of those 40-49 are protecting their assets.
- 24% of parents do not have any life insurance (probably they thought they are superman).
- 34% of those 50-59 are not saving for retirement (maybe they think they want to work forever).
- Only 12% of those aged 50-59 are undertaking tax planning (maybe their income is too low!)
- 80% of parents have not made a Will!
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