SMU Assistant Professor of Finance (Education) Aurobindo Ghosh discussed the 2023 Singlife Financial Freedom Index. The survey of 3,000 Singaporeans and permanent residents aged 18 to 65 found that over 40% feel they might never achieve financial freedom. On average, respondents estimated needing $612,000 for financial freedom, an increase of 8% from last year, with a 30-year timeline to save this amount. Additionally, 80% aim to retire by 65, expecting to need over $2,800 monthly for a comfortable life.
