According to the survey findings, 72.3% of the respondents know how much contingency savings they need. Within the same survey, it was found that 58.3% of the women polled are confident that they have enough funds to retire with a peace of mind. The same women have also invested in an asset class of choice to contribute to their retirement funds. Of the pool, 42.2% of the respondents polled indicated that they have invested in stocks while 17.2% have invested in bonds. Another 13.2% have invested in funds while 27.4% put their money in a mix of exchange-traded funds (ETFs), REITs, options and more.
Among the respondents, 33.4% of female investors were found to be “enthusiastic” about trading having performed four trades or more in the past three months. Another 51.3% said that they review their portfolios every quarter.
For 27.1% of the investors polled, becoming financially secure remains a top priority for them. Among the women surveyed, 22.5% of them say that they would like to look after themselves during their golden years and 20.4% are looking to accumulate more savings.
In the survey, 40.2% of the investors polled say that they are “not mentally and or financially prepared to face a loss or reduction in income”, which is why they have turned to investments as a means to boost their retirement nest egg.
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To this end, 41.7% of the respondents, say the need for additional income drives them to consider investing in resilience. To build a resilient portfolio, 20.0% say that having a sound understanding of both technical and fundamental analyses is critical, while 19.3% prefer having easy access to educational materials on investing. 12.2% would prefer hearing from a wealth advisor and 6.8% view having a supportive community as critical.
When it comes to their financial matters, 29.6% of women investors in Singapore prefer to conduct their own research. Another 19.8% say that they prefer to seek advice from their family members while 23.0% of them trust the advice provided by independent financial advisors and or bankers. Another 16.0% look to their friends for advice while 11.6% would look to social media and other sources for advice on wealth planning and retirement.
Despite this, 42.3% of the respondents polled say that they “do not feel financially secure”. 41.7% of them have indicated that they are not confident that they can meet their retirement goals.
However, 51.4% of the respondents polled view investing as “essential for inflation” while the rest hold contrasting views.
