Financial planning challenges in Asia

Middle-class consumers finding it harder to plan for retirement, survey by insurer FWD Group finds

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The majority of Asia's middle-class population feels financially anxious and underprepared for retirement, as rising living costs and growing family responsibilities reshape financial priorities across generations, a survey by the regional insurance provider FWD Group has found.

Nearly three-quarters (71%) of middle-class consumers feel anxiety about their overall financial wellbeing, with top three concerns being the rising cost of everyday living (71%); high cost of healthcare (43%); and unexpected job loss or a reduction in their income (37%).

As a result, their primary financial goals are focused on a twoto three-year time frame. Almost half (44%) of the respondents aim to build a basic safety net for their families, while one-third (37%) hope to achieve financial independence.