Singapore – Singapore’s affluent investors now believe they need an average of US$1.39 million to retire comfortably, placing them among the world’s most financially ambitious, according to HSBC’s Affluent Investor Snapshot 2025 released on July 9.
The figure exceeds retirement expectations in major wealth hubs like Hong Kong (US$1.11 million), Australia (US$1.23 million), and the UAE (US$1.17 million). The global average stands at US$1.05 million.
Drawn from a survey of over 11,000 affluent individuals across 12 markets, the report reflects the perspectives of investors aged 21 to 69 with investable assets between US$100,000 and US$2 million. Notably, Singapore emerged as one of the most desirable jurisdictions for opening overseas investment accounts, ranking alongside the US and Hong Kong.
Beyond retirement planning, the study highlights a significant evolution in wealth behavior among Singapore’s high-net-worth individuals. While cash continues to hold the largest share at 24 per cent of portfolios, allocations have declined. In its place, gold and precious metals have surged, with holdings increasing by 40 per cent year-on-year.
This appetite for alternative assets extends further. Investors are turning increasingly toward private equity, hedge funds, and diversified instruments as a hedge against global volatility. Globally, cash holdings dropped by nearly 40 per cent, while gold allocations spiked 120 per cent, and investments in alternative assets more than doubled.
Despite a backdrop of rising inflation and economic uncertainty, investor sentiment in Singapore remains notably upbeat. Close to two-thirds of affluent respondents expressed confidence in meeting their long-term financial goals, with optimism particularly strong among Gen Z and millennials—nearly 70 per cent of whom voiced positive outlooks.
This generational divergence is shaping a new investment ethos. For younger Singaporeans, wealth is no longer just about security or legacy—but also well-being and lifestyle. Leisure, health, and personal fulfilment are now top financial goals, overtaking even retirement planning in priority.
The next-gen affluents are also transforming the way portfolios are constructed. The study shows increased adoption of digital gold, multi-asset strategies, and private market funds. These investors are comfortable navigating complex products, signaling a broader, more sophisticated engagement with financial markets.
As the line between wealth management and lifestyle design continues to blur, Singapore’s affluent class is setting a global benchmark—not only in terms of retirement ambitions but also in the way they are redefining what it means to live well, and invest wisely.
