2 in 5 Singaporeans are putting more money in investments: survey

About 51% of those who are investing are buying more stocks and bonds.

Two in five Singaporeans have put more money into investments in the past six months to strengthen their financial resilience as normalcy still looms.

A survey from UOB showed that about 51% of those who invested put their money into buying more stocks and bonds.

In terms of age group, millennials (46%) were the most upbeat about investing expressing plans to put more money in investments in the long term, followed by Gen X (35%), Gen Z (29%), and baby boomers (11%).

On the flip side, 65% of Singaporeans have not changed how they budget their spending, savings, and investments in the last six months.

The study said Singaporeans are already preparing themselves to live with a “new norm” by 2023, which 18% of them believe will be the year when normalcy returns.

About 34%, meanwhile, believe returning to normal life will take longer for about three or more years.

Whilst Singaporeans remain worried about their finances, particularly on household’s increased expenses (56%); meeting their financial commitments (57%); and decline on their savings or wealth holdings (61%), the study said they are becoming more ready “for COVID-19 to become endemic.”

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