Married Singaporeans feel more financially secure: survey

SINGAPORE - Marriage can make you feel safer about your money, according to a survey.

The Investor Attitudes Report by Friends Provident International (FPI) showed that 45 per cent of married Singaporeans feel they are financially secure, compared with 37 per cent of single investors.

A thousand investors in Hong Kong and Singapore with at least $80,000 in investable assets were interviewed last month for the report released on Tuesday. About half of the respondents were located here.

The study also saw more investors here feeling financially insecure at 36 per cent of those surveyed, up from 19 per cent last year.

FPI South-east Asia General Manager Chris Gill felt the growing insecurity could be due to external events such as China's economic slow-down or the Crimean crisis.

"Closer to home, the rising cost of living including the high property prices could also be key elements that have contributed to perceptions," he added.

About three-quarters of "affluent" respondents in both cities - defined as those with more than $200,000 in investable assets - selected "retirement" as the number one reason to save.

This was followed by saving for emergencies, and medical expenses.

Mr Gill said it is "encouraging" to see that affluent investors are aware of the need to prepare for medical bills and retirement.

"With longer life expectancy and aging population, this posts tremendous challenges across the globe," he noted.

The survey also found a significant number of affluent people trusting financial advisers, at 70 per cent preferring to speak with one for wealth planning or insurance.