High-Net-Worth but Anxious: Manulife Singapore and Forbes Insights Reveal That Wealth Can’t Buy Confidence in Ageing Well

• Despite placing health above all else, high-net-worth individuals in Singapore remain uncertain about their long-term wellbeing – underscoring the need for more integrated longevity planning.

SINGAPORE – High-net-worth Singaporeans may have wealth, but not peace of mind about ageing. A new study by Manulife Singapore and Forbes Insights reveals that while 94% of high-net-worth individuals (HNWIs) in Singapore agree that "nothing is more important than health," fewer than half are very or extremely confident they’ll remain healthy and active after retirement.

In fact, only 44% of HNWIs in Singapore expressed strong assurance in their long-term health despite access to world-class healthcare and widespread participation in wellness activities.

This research challenges the common assumption that greater wealth automatically buys greater peace of mind," said Mark Czajkowski, Chief Marketing Officer at Manulife Singapore. "For our customers, wealth is no longer the goal in itself – it’s the means to protect the lifestyle, health, and choices they’ve worked so hard to build. The real opportunity now is to help them align their lifestyle ambitions with a clear, integrated plan for health, longevity, and retirement – so they can enjoy care, comfort, and choice well into later life."

In line with these shifting priorities, Manulife Singapore is placing greater emphasis on health-centric solutions, and will be introducing new initiatives in Q4, designed to empower customers to lead healthier lives and elevate their overall well-being. 

Singaporeans value health, but doubts remain around financial protection

Despite a strong consensus among Singaporean HNWIs that health is paramount, many remain uncertain about their financial readiness for health-related challenges. 

• Around four in ten (44%) are moderately confident or slightly confident that they are financially prepared for long-term care and medical expenses. 
• Fewer than half (47%) feel very or extremely confident their current financial plans cover potential disability or incapacity.

This points to a significant disconnect between the value placed on health and the confidence in being financially prepared for future healthcare needs.

Longevity isn’t about years – it’s about meaning and quality

The Manulife Asia Care Survey conducted earlier this year adds critical context into how Singapore’s high-net-worth define longevity. When asked why living longer wasn’t their top aspiration, 58% said, "having a meaningful life is more important," while 44% emphasised quality of life over simply extending lifespan. These views highlight a more intentional approach to ageing, that high-net-worth individuals no longer simply want to live longer, they want to live better.

Barriers undermining longevity confidence

Despite clear aspirations, high-net-worth individuals in Singapore face multiple challenges in integrating health into their long-term financial and lifestyle planning. The most common obstacles identified in the study include:

• 34% face increasing mental health issues from high pressure work
• 32% has difficulty navigating healthcare systems and insurance           
• 30% struggle to implement necessary lifestyle changes

Long-term care cost is a growing concern, where 29% cited challenges in integrating healthcare and long-term care costs into financial and estate planning, and 21% admitted a lack of knowledge about maintaining health.   

What Singapore’s high-net-worth individuals are doing differently

Despite these concerns, many are taking proactive steps to achieve their longevity goals. The study found that:

• 40% use longevity-enhancing technologies, like fitness wearables or apps          
• 56% rely on living a healthy lifestyle through nutrition or exercise      
• 41% maintain regular preventive care
• 49% obtain state-of-the-art health insurance plans
• 50% work with health experts such as longevity or wellness coaches, or care providers

Beyond mainstream measures, many are also exploring innovative wellness practices such as tai chi, intermittent fasting, cryotherapy and sleep optimisation technologies, reflecting a growing openness to personalised and experimental approaches to healthy ageing.

"The findings reveal two pressing opportunities: first, to strengthen confidence among HNWIs in their ability to age well; and second, to move beyond one-size-fits-all advice towards truly integrated, future-ready planning," said Rena Lim, Head of High Net Worth and Financial Advisory, Manulife Singapore. "In response, we are expanding our advisory capabilities and launching new tools that integrate health and wealth. We’re committed to evolving our strategies to meet these aspirations head-on." said Lim.

- End -

Editor’s Note: This study conducted by Manulife Singapore and Forbes Insights surveyed 250 high-net-worth individuals across Singapore (36%), Hong Kong (24%), and mainland China (40%) in March and April 2025. For this study, high-net-worth individuals are defined as individuals with net investable assets of $1 million to more than $10 million. Full report here. Please note that this release focuses on the Singapore-specific data from the report.

About Manulife Singapore

Serving Singapore since 1899, Manulife Singapore has progressed significantly to become a leading life insurer that provides a broad range of insurance, retirement and wealth management solutions to meet the financial needs of our customers across their various life stages. Manulife Singapore’s insurance, retirement and wealth management solutions are distributed through our own affiliated financial adviser representatives and our specialist partners, including banks and other financial advisory firms. For more information on Manulife Singapore, please visit manulife.com.sg.

About Forbes Insights

Forbes Insights conducts and distributes original research that powers Forbes’ global audience of C-Suite executives, HNWIs, entrepreneurs, boards of directors and senior business leaders with actionable intelligence for a better and brighter future.

Media contact

Belinda Wong

Belinda_sj_Wong@manulife.com

Zaim Zahari / Verona Koh

Manulife@aka-asia.com