Four in five Singaporeans fear outliving their savings

Seventy percent are worried about affording future care needs above the regional average.

Many adults in Singapore are delaying their financial planning, including retirement and insurance needs, because they are supporting their families.

Nearly half (46%) of respondents in Singapore have family financial responsibilities, with 62% saying these commitments are affecting their ability to prepare financially for for later life, according to Manulife's Asia Care Survey 2026 of 1,074 respondents. 

About 81% of those aged 18 to 24 and 75% of those aged 25 to 34 said family obligations are delaying their long-term financial readiness. 

Respondents under 35 also spend an average of 40% of their monthly income supporting family members. 

Despite these pressures, 92% of respondents said they want to remain financially independent as they grow older and avoid relying on family members. 

At the same time, 61% said their idea of "freedom in a long life" is not becoming a burden on others. 

The survey also found concerns about healthcare costs and retirement income. 

More than three in four respondents, or 78%, worry they could outlive their savings, whilst 70% are concerned about being able to afford future care needs, higher than the regional average of 66%. 

Insufficient savings and investments were cited by 55% as the biggest barrier to remaining financially independent in later life, followed by the lack of a stable income stream at 42%. 

Most respondents, or 78%, still expect to rely on personal savings to fund retirement and future care needs. 

However, more are looking at other financial strategies, with 43% planning to diversify their investments across different asset classes and 34% considering income-generating investments to provide a more stable source of retirement income. 

The survey also pointed to gaps in health planning that could affect future insurance and healthcare needs. 

Whilst 87% said regular medical check-ups are important and 88% believe preventive care can reduce the risk of chronic disease, only half of respondents undergo a comprehensive health screening every year. Eleven percent said they have never had one. 

The Manulife Asia Care Survey 2026 was conducted between February and March 2026 across nine Asian markets, with more than 9,000 adults participating.