Family financial strain derails goals for 62% of adults: survey

More than three-quarters worry they could run out of money before they run out of time.

Nearly half of Singaporean adults are financially supporting family members, and most say it is costing them their own future independence.

According to the Manulife Asia Care Survey 2026, 46% of adults reported having family financial responsibilities, with 62% saying that these commitments impact their ability to achieve long-term financial readiness.

This challenge increases amongst young generations, reaching 81% amongst those aged 18 to 24 and 75% amongst those aged 25 to 34. Both levels are even higher than the regional average of 76% and 69% for the respective age groups.

“Respondents under 35 also dedicate an average of 40% of their monthly income to supporting family members, underscoring the financial compromise many are making whilst preparing for their own future needs,” the survey said.

Despite this, 92% of respondents said they aim to be self-sufficient for as long as possible. Aside from financial security, this also means having privacy and dignity, being able to make their own decisions without family pressure, and having the freedom to travel and access quality care.

That appetite for travel is reflected elsewhere. A separate survey by Skyscanner and Trust Bank found that 40% of Singapore travellers now prioritise saving for leisure travel over other financial goals such as home ownership and retirement.

Health and self-sufficiency were also amongst the priorities of Singaporeans in Manulife’s 2025 survey. There were 43% who said they want to avoid extended periods of chronic illness, and 21% who said they aim to be completely self-sufficient in retirement.

The latest Manulife survey also found that nearly nine in ten Singapore adults acknowledge the importance of proactive health management. Of the respondents, 87% agree that regular medical check-ups are vital for maintaining quality of life and independence, whilst 88% also believe that preventive care can reduce the likelihood of chronic disease.

“However, only half (50%) undergo a comprehensive health screening at least once a year, with 11% admitting they have never had one at all,” the poll said.

“Less than 40% of respondents also maintain a consistent exercise routine and follow a balanced diet as part of their self-care efforts, lower than the regional average,” it added.

Aside from this gap in health, the survey also found challenges in how adults plan financially for later life.

More than three in four worry that there is an increased risk of running out of money before running out of time. There were also 70% who expressed concern about their ability to afford future care needs, higher than the regional average of 66%.

“When asked about the barriers that could affect their ability to remain independent in later life, insufficient savings and investments (55%) and the lack of a stable income stream (42%) came in amongst the top,” Manulife said.

Despite such sentiments, 78% continue to rely on their personal savings to fund their retirement and care needs. Amongst those taking steps to strengthen their financial well-being, more are adopting diversified strategies.

The poll found that 43% are planning to invest across different asset classes, whilst 34% are shifting towards income-generating investments to support longer-term needs.

“This reflects a growing emphasis on building steady income streams to cover living expenses over an extended retirement,” the survey said.