78 percent of Singaporeans are confident about utilising personal savings and investments as their primary source of income after retirement, according to results of the latest The Nielsen Global Survey about Aging.
Conducted between August and September 2013, the survey polled more than 30,000 Internet respondents in 60 countries.
Results also show that 29 percent of Singaporeans plan to retire before they reach 60, with the ideal retirement age for almost half of them being younger than their planned or actual retirement age.
77 percent of Singaporeans polled said they would like to focus on staying physically and mentally fit after retirement, while 63 percent would spend time with their family. About a quarter of respondents plan to eat healthy.
The lack of funds to cover medical costs tops the list for Singaporeans’ age-related fears at 58 percent, with losing the ability to care for basic needs and losing physical agility coming in close at 57 percent and 56 percent respectively.
When asked about realistic living arrangements when they become too old to care for themselves, 38 percent said they plan to live at home with their spouse and 17 percent said they will stay with their children.
The remaining respondents — a whopping 45 percent in total — opted to stay in an assisted living facility, or a nursing home.
