Married Singaporeans are more financially secure than singles
Married Singaporeans feel more financially secure than singles.
That's according to an investor attitudes survey by Friends Provident International.
It says 45 per cent of married Singaporeans expressed that they are financially secure, compared with 37 per cent of singles.
The insurer says this is because married respondents are more likely to have taken a coordinated approach to financial planning, while singles are more likely to take risks in their financial matters.
However in total, there's increasing financial insecurity amongst the respondents surveyed in Singapore.
More than a-third indicated financial insecurity compared to 19 per cent in the previous year.
Chris Gill, General Manager at Friends Provident International says one of the reasons is high cost of living.
"A lot of talk about the house prices, COE constantly up and down, but more often up, more recently medical expenses as well is coming to the spotlight with increasing costs there. Apart from cost of living I think generally in Singapore we are seeing an aging population, people are living longer, and therefore expectations is there will need to fund retires, need to think about medical expenses."
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