According to the latest investor sentiment survey conducted by insurance company Manulife, 69% of the Singapore investors regret not planning their investments better. 27% said the key reason is not being proactive reviewing their portfolio and 26% said they held too much cash instead of making investments.

The Manulife survey also revealed Singapore investors to be heavily indebted, with 33% in debt from personal loans, student loans and credit card loans. 46% of those in debt owe more than S$10,000 while 44% of them said they need to take more than 1.5 years to clear their debt. The survey also revealed that the cost of living is the top contributor to debt.

As mortgage debt is not included, the percentage of actual debt Singaporeans are holding is actually a lot higher. In a 2013 survey also conducted by Manulife, the survey found that retirement is a “false hope” in Singapore [Link]. Singaporeans’ retirement is in jeopardy because a bulk of their CPF savings ended up servicing unaffordable housing prices.