Hungry for money: 6 in 10 millennials will work more to increase their wealth

They are even willing to compromise their relations to maximise their riches.

Money matters so much for millennials in Singapore that most of them (69%) are willing to spend more time working to increase their wealth, a survey by St. James’s Place Asia (SPJ Asia) has found.

Almost a third (70%) of millennials will work longer and harder even at the expense of personal relationships while they are young to enjoy the fruits of their labour when they are older.

According to SPJ Asia, almost half of millennials (49%) want to grow their wealth because they want to have money to invest in personal ambitions.

Millennials (83%) said being wealthier also allows them to have a better work-life balance.

When investing, millennials would often seek financial advice from family (63%), professional financial advisers (35%), and friends (34%). 

Apart from investments (88%), millennials also seek financial advice on matters such as mortgages and insurance (74%).