In Manulife's Asia Care Survey, more than 1,000 Filipino survey respondents shared their sentiments on health and finances amid economic uncertainty. Specifically, the study delved on their expectations on health longevity, insights on financial preparedness and retirement planning, and their views on the value of insurance for financial stability and health protection.
Here's how you can retire ready in life
When saving for retirement, the age at which you start and the age at which you plan to retire are crucial. Starting early enables smaller, more manageable contributions, whereas a shorter timeframe closer to your retirement age may require larger investments to achieve your goals.
Filipinos Are Not Retirement-Ready, Reports Say
According to recent reports, only 29% of Filipino adults have a savings account. The Philippines, in fact, has one of the lowest savings rates in Southeast Asia. Another survey showed that 46% of Filipinos rely on cash savings or deposits for retirement, but how far can your money take you?
Turning retirement dreams into financial reality: Timeless strategies that can help your savings grow
The freedom to enjoy life on your own terms, with plenty of time (and money) to travel, focus on your hobbies or do whatever your heart desires may come to mind first when you think of retirement. But funding this milestone in one’s stage of life takes planning, discipline, and perseverance – and the sooner you start, the better.