The study also shows that over half of the respondents (53%) are willing to sacrifice spending on luxuries to generate more wealth over the long term, while 51 per cent say they’d sacrifice work-life balance
SINGAPORE: A recent study is showing that over half of Singaporeans don’t think of themselves as financially wealthy, and only 38 per cent are satisfied with their personal wealth.
The study examined five different levels of wealth, which are stability, security, flexibility, freedom, and abundance, as well as how respondents view wealth creation, and intergenerational wealth transfer.The study, whose results were launched this week, surveyed 1,000 well-heeled Singaporeans. In Singapore, only 38 per cent of the respondents said they are happy with how wealthy they are, while 42 per cent said they want to be more wealthy.As people move from the first stage, financial stability, to the third stage, financial flexibility, the majority believe that their wealth is too small.
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