Millennials prioritise saving for wedding, first home over retirement: Poll

Over half of millennials surveyed deemed it too early to start planning for retirement and indicated they were more focused on saving for their wedding and first home.
Over half of millennials surveyed deemed it too early to start planning for retirement and indicated they were more focused on saving for their wedding and first home.PHOTO: ST FILE

A new survey has shown that people in Singapore are starting to save from a younger age, but these millennials are prioritising their wedding and first home over retirement plans.

The Manulife Singapore survey, which polled 1,000 people across three generations, found that 55 per cent of millennials (those aged between 22 and 37) here have started saving for the future. On average, they started saving at 27 years old.

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A version of this article appeared in the print edition of The Sunday Times on October 28, 2018, with the headline 'Millennials prioritise saving for wedding, first home over retirement: Poll'. Print Edition | Subscribe