SINGAPORE (May 22): Almost half of Singaporeans are expecting for their family to care for them in retirement, according to the findings of a survey conducted by St. James’ Place Wealth Management Asia (SJP Asia).

Of the 1,045 respondents, 48% of them predict that they will not have enough money saved to sustain the lifestyle they want in retirement.

Beyond retirement woes, the findings also show the growing challenges Singaporean families face as they age. The findings also underscore the importance of robust financial planning for millennials, the first generation that will reportedly earn less than their parents.

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