National Bonds Survey Reveals Retirement Planning as UAE's Top Financial Priority
National Bonds, the UAE's leading Sharia-compliant savings and investment company, has unveiled the results of its latest annual survey, reaffirming that retirement planning remains the top financial priority for the second consecutive year.
The findings highlight a growing awareness of financial stability, with early financial planning and disciplined saving strategies taking center stage.
The survey revealed that 40% of respondents are on track to achieving their 2024 financial goals, while 45% have partially met their targets. Looking ahead, confidence in financial aspirations for 2025 varies, with 36% of participants expressing complete confidence in reaching their objectives. Notably, younger generations are demonstrating increasing financial awareness, as 40% of Generation Z and 36% of Millennials reported confidence in achieving their financial goals, compared to 32% of Generation X.
A gender-based analysis showed that 42% of men reported being on track with their financial goals, compared to 33% of women. However, women displayed a stronger inclination toward seeking professional financial advice, with 78% open to financial guidance or planning tools, compared to 76% of men. Both groups, however, prioritized increasing savings and retirement planning as key financial goals.
Among the survey's key insights, Emiratis showed a higher tendency (94%) to consult financial advisors or use financial planning tools compared to 77% of expatriates. Rising living costs and unforeseen expenses emerged as the primary obstacles to financial goal attainment.
Rehab Lootah, Group Deputy CEO of National Bonds, stated, 'This year's survey reflects a growing commitment to financial stability, particularly in retirement planning. Our innovative financial solutions, such as the 'Second Salary' savings plan and 'My One Million,' are designed to help individuals secure their financial future.'
National Bonds continues to encourage savings through its AED 36 million annual rewards programme, offering substantial incentives, including luxury cars and cash prizes, to reinforce the importance of financial discipline. As part of its mission, the company is set to launch a free financial advisory service to provide expert guidance to those seeking to strengthen their financial future.
News Source: Emirates News Agency
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