6 in 10 Singaporeans say supporting family has affected their ‘ability to achieve long-term independence’: survey

SINGAPORE: A new survey by Manulife, titled Asia Care Survey 2026, found that nearly half (46%) of adult Singaporeans have financial responsibilities at home. Six in 10, however, said supporting their family is affecting their financial future and their ability to achieve long-term independence.

The impact was more pronounced among those aged 18 to 24 (81%) and those aged 25 to 34 (75%). In fact, Singaporeans under 35 are dedicating around 40% of their income to support family, with more than seven in 10 (73%) respondents aged 18 to 24 saying they had delayed seeking medical care due to caregiving responsibilities.

Still, 92% of respondents said they aim to remain self-sufficient for as long as they can, with 61% wanting to be independent without becoming a burden, having privacy and dignity (46%), being able to decide without family pressure (44%), having the chance to travel and access quality care (42%), and the choice where to live (35%).

However, the reality is that 70% are worried whether they could afford future care needs. According to Manulife, these concerns come as future care costs are estimated at more than S$2,500 a month.

Manulife CEO Benoit Meslet said, “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.” /TISG

Read also: ‘So tell me again why is a degree important?’ netizen asks after expert says more educated, higher-skilled workers are at higher risk of retrenchment