YAHOO POLL: Is $1 million enough to make you financially free in Singapore?
A recent Singapore study says it loud and clear: more than half of Singapore residents believe they need $1 million to achieve freedom. Yep, seven figures – just to feel unstressed about money.
Surprisingly, 72 per cent think it's a totally realistic goal, despite rising costs, stagnant wages, and the increasingly expensive price of kaya toast.
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Most people aim to hit that magic number between ages 40 and 60.
Ambitious? Maybe. Delusional? You tell us.
The study surveyed over 500 residents aged 26 to 60.
While younger folks are more confident and gung-ho about early retirement, only 48 per cent of those with a plan have actually started saving.
So here's the million-dollar question (literally): Do you really need $1 million to be financially free – or is it just a psychological safety net?
Have your say and take the poll.
Related
Financial independence with at least $1 million is a 'realistic' goal for 72% of Singapore residents: CIMB study
Poll reveals over 40pc of Singaporeans doubt financial freedom; children seen as barrier, Malaysia a top retirement spot
Financial advisors: Younger Singaporeans more keen on starting early with advisors
Average Singapore consumer needs to save at least $1,733 per month over 27 years to feel financially free: survey
Singapore consumers may now take 30 years to achieve financial freedom: Singlife
More than half of Singaporeans consider themselves not financially wealthy: SJP Asia study
How to start planning for retirement in your 20s and 30s
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