How are people in Singapore rethinking longevity and independence?
For years, Manulife’s Asia Care Survey has explored evolving health and wealth needs. In Singapore, the 2026 findings highlight a less discussed reality: as people live longer, the desire to remain independent in later life is stronger than ever. Yet many are balancing immediate family responsibilities with the need to prepare for their own future—creating a growing gap between intentions today and financial security tomorrow.
At the same time, longer life expectancy means people in Singapore may spend up to 11–12 years relying on care or financial support. This highlights the growing need to balance providing for their families with ensuring their own long-term independence.
Key findings from Manulife Asia Care Survey 2026:
- 46% of people in Singapore have family financial responsibilities, with 62% saying this impacts their ability to achieve long-term independence.
- Health and financial well-being are the key building blocks on the path to independence.
- Those who have open conversations about their retirement needs report a better quality of life than those who do not.
What does independence really mean to people in Singapore?
Independence goes beyond financial security, with 92% aiming to remain self-sufficient. This reflects a strong desire to stay self-reliant while minimising emotional, physical, or financial strain on their families. In fact, 89% agree that the longer they expect to live, the earlier and more comprehensively they need to prepare, across financial, physical, and mental wellbeing for their later years.
"Our Asia Care Survey shows the responsibilities Singapore adults are already carrying. Many are supporting families, building their own lives, and thinking about their future at the same time. This comes with real trade-offs, and it is unsurprising that many feel that their long-term planning is delayed or out of reach. Our role is to support customers in taking small, confident steps forward, so they can care for their families without feeling that they are falling behind in their own planning," said Benoit Meslet, Chief Executive Officer of Manulife Singapore.
Understanding independence means taking a close look at how health, wealth and retirement intersect.
Most people know what good health requires, but fewer are acting on it
70% of people in Singapore are worried about care affordability — and the numbers show why. Future care needs average over S$2,500 a month.
For many, this reinforces the importance of staying healthy for as long as possible. Nearly two-thirds (64%) of those who prioritize being self-sufficient understand that good health is the foundation of independence, but less than 40% have taken concrete steps toward building the good health they will need in retirement.
Preventive care in Asia still leaves room for improvement
Although prevention is widely valued, it is not yet widely practised.
For instance, our survey revealed that only half of the respondents receive a comprehensive health check-up by a qualified medical professional once or more a year—this despite 87% agreeing that regular medical check-ups are vital for maintaining quality of life and independence, and 88% believing that preventive care can reduce the likelihood of chronic disease.
In addition, around 1 in 10 people in Singapore reportedly have never undergone a full health check-up.
"While many recognise the importance of preventive health, taking action is often difficult because of day-to-day commitments. The reality is, it’s not always easy to prioritise regular check-ups or healthy routines alongside everything else. As a partner to our customers’ wellbeing, our focus is to simplify these choices through health partnerships that help our customers take consistent steps when it comes to living well,” said Michelle Fang, Chief Marketing Officer of Manulife Singapore.
Fewer than half maintain a self-care habit
When asked about their preferred self-care habits, only 34% have attended early screenings and taken preventive care to avoid chronic illness. Less than 40% also maintain a consistent exercise routine and follow a balanced diet as part of their self-care efforts. Overall, as few as 12-37% maintain respective self-care habits, while 4% do not practise any form of self-care.
The top 5 self-care habits remain below 37% adoption – underscoring the gap between intention and preparedness.
1. Maintain a consistent exercise routine to stay healthy and mobile
2. Engage in hobbies and leisure activities
3. Follow a balanced diet to prevent future health issues
4. Attend early screenings and take preventive care
5. Spend quality time with supportive friends, family members or pets
Open family conversations are recognized as vital, but many still avoid them.
According to our survey, nearly 70% of people in Singapore believe that having open and honest family discussions about aging and retirement improves well-being. Yet, only 58% report actually having these conversations.
What can we do?
While awareness of healthy aging practices is high, a significant gap exists between knowledge and action. People must move beyond good intentions and commit to concrete steps toward preventive care and consistent self-care habits.
This gap between intention and action extends to family conversations about retirement and growing older, where belief in their importance has yet to translate into meaningful dialogue.
The good news is that a few simple steps can be taken to build a meaningful foundation for healthy aging:
- Make preventive care a routine: Schedule at least one comprehensive health check-up per year and treat early screenings as a non-negotiable part of maintaining independence in retirement.
- Build sustainable self-care habits, starting small: Rather than overhauling lifestyle choices all at once, start with one to two foundational habits, such as maintaining a consistent exercise routine and following a balanced diet, before gradually incorporating others, such as engaging in hobbies or building social connections.
- Start the family conversation about aging and retirement now: Families should proactively set aside time to discuss retirement plans, health wishes and legacy goals. Waiting until a health crisis arises can make these conversations more challenging and the decisions more stressful.
A mindset shift: from family safety net to self-dependence
The shift towards using most of their financial assets to fund their own independence rather than expecting their children to be their main safety net later in life is reshaping how people save, invest, and protect their lifestyles. 59% are prioritizing resilient, income-generating investments designed to support longer lives, uncertainty, and rising costs.
What does self-reliance look like in practice? Survey respondents are planning to fund their retirement and care support themselves from: savings (78%), investments (52%), insurance (49%); only 15% plan to depend on children for financial support.
Investment as an enabler remains under-utilised
And with reduced reliance on children, the opportunity is clear – but investment adoption still lags. Only 33% invest in stocks and 20% in mutual funds, while 49% of people are increasing savings such as cash and time deposits.
Among those who have increased savings and investments, there’s a growing intent to optimize portfolios through diversification (43%) and income-generating investments (34%).
While dependence on family support is declining, a critical gap remains. Most people still rely more on savings than investments for financial security. While saving is important, it may not be sufficient to address longer lifespans—highlighting the need for stronger investment adoption.
What can we do?
There is a growing recognition that investment and wealth strategies must evolve – not only from static savings to dynamic, diversified income-generating portfolios that can adapt to inflation, market uncertainty and unexpected life events, but also toward making fuller use of investments as a core engine of long-term financial independence – particularly by starting early and allowing compounding work over time. A disciplined, long-term approach grounded in diversification can help people navigate changing needs and uncertainty with greater confidence, turning it into something they can plan for, rather than react to.
- Build income for today: think beyond accumulation. Build and stress test for predictable cash flow – especially against inflation and longer lifespans.
- Invest to secure tomorrow. Make fuller use of investments as an enabler to grow assets and sustain long-term independence, so retirement and care aren’t dependent on family support.
- Make the plan visible: be clear about priorities – whether independence, lifestyle or legacy, then align savings and investment strategies accordingly.
Phased retirement to support independence
Traditional retirement planning often assumes a single switch: work ends, retirement begins. Today, it is increasingly a gradual journey, shaped by financial realities, family responsibilities, and the desire to stay independent longer.
Working later in life is increasingly part of the retirement plan.
76% want some form of work after age 65, with flexible part-time work most preferred, as a way to sustain independence and choice.
However, this flexibility is often shaped by financial reality.
46% of people in Singapore currently provide financial support to family members.
As a result, confidence about long-term independence is affected. Nearly 62% say family responsibilities are limiting their ability to achieve independence, rising to 72% among the sandwich generation.
The tension between today’s responsibilities and future financial security
When more income is directed toward supporting others, it may become harder to sustain savings, invest consistently, and build buffers for retirement and healthcare. Without early planning, supporting others today can come at the cost of independence later.
This reinforces an important reality: retirement should be planned as a series of stages, not a single point in time.
A longer working life can support independence – but only if people are prepared for how income, spending, and care needs evolve over time, from full-time work, to phased retirement, to later-life care. Without structured planning and an investment strategy, people risk being forced to work longer than they want or making rushed financial decisions when circumstances change.
The good news is that there are clear ways forward – starting with conversations and more structured planning.
Among adults aged over 54, those who have discussed retirement needs with family are more likely to report better quality of life (73% vs 64% among those who have not), while those who have discussed with a financial planner show an even stronger advantage (88% vs 66%).
Silence carries a cost
When expectations, roles and preferences are unclear, financial plans are often built on assumptions that may not hold. This increases the risk of last-minute decisions, misaligned expectations, and disrupted investment strategies – particularly when health or care needs arise.
Early conversations, combined with professional guidance, can turn uncertainty into a shared and actionable plan, reducing avoidable financial stress later.
What can we do?
- Plan retirement in phases, not a date:
- Pre-retirement (Build): Focus on growing assets early while starting to shape future income via investments. Combine accumulation with a diversified approach – time and compounding are your advantage.
- Transition (Phase-down work): Gradually replace part of your paycheque with portfolio income, while keeping part of your assets invested for continued growth. Set rules for volatility so market swings don’t dictate your retirement timing.
- Long retirement (Income and care planning): Review income sustainability and asset growth regularly across decades. Integrate expected care needs into the retirement budget.
- If you’re the sandwich generation (supporting children and parents): Build ongoing family obligations into your cashflow plan, not just “what’s left over”. Continue investing for long-term while maintaining an emergency buffer so you’re not forced to sell long-term investments at the wrong time.
- If you’re a solo planner: Prioritise both growth and liquidity: keep assets invested to support long-term needs, while ensuring you can access funds without disrupting your overall plan.
- Break the silence: talk to family and seek professional guidance
- Schedule a family conversation on independence, boundaries, and care expectations.
- Start with three prompts: What does independence mean to you? What support is realistic? What boundaries do we need?
- Make it practical: map living expenses, healthcare/care needs, and who funds what.
- Seek professional financial guidance to connect growth, income, and retirement needs into one integrated plan.
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About Asia Care Survey 2026
The Asia Care Survey 2026 was conducted across February and March 2026 and captured insights from over 9,000 individuals aged 18 or above (including 60+) across nine Asian markets: Mainland China, Hong Kong, Taiwan region, Japan, Singapore, Vietnam, Indonesia, Philippines, and Malaysia. For the Asia-specific data version, please visit https://www.manulife.com/ca/en/about-us/news/asia-care-survey-2026.
