Investors expect to retire 3 years earlier than noninvestors, YouGov-ADDX survey finds
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A survey commissioned by SGX-backed private market exchange ADDX, carried out by global market research firm YouGov, has found that people who invest their wealth expect to retire 3 years earlier than non-investors on average.
Some key findings of the survey:
* The average expected retirement age is 62.1 among non-investors and 59.2 among investors. For those who invest in the private markets, the average expected retirement age is lower still, at 53.5.
* Just 19% of people who do not invest expect to retire before the age of 60, compared to 31% of people who invest. For people who invest in private market assets, this figure goes up to 47%.
* Gender gap: Globally, 29% of respondents do not invest. Nearly 4 in 10 women (37%) said they do not invest, compared with just 2 in 10 men (21%) who said the same.
* Asian investors gravitate toward safer options: Investors from Asia expressed a preference for fixed deposits, with about 1 in 2 perceiving the asset class as a core component of their investment portfolio. In contrast, investors from Europe preferred a more balanced allocation across asset classes.
* DDX CEO Oi-Yee Choo said: “Not investing has serious consequences. It reduces your buying power and lifestyle options. In the long run, it might also mean you have little choice but to extend your working life in order to adequately fund your retirement. Women are less likely to invest than men, and that has a negative impact on their ability to retire earlier, should they want to. Early retirement is also topic of growing interest, especially among the younger generation – and increasingly, retirement is being defined as achieving financial freedom and independence, rather than just ‘stopping work’. The implications of this YouGov-ADDX survey are clear: young or old, women or men, every individual and household needs to think about channelling some of their savings into investments, so that they can secure their well-being in the long term.”
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