Singapore millennials and Gen-Z investors remain very optimistic about investing during the coronavirus pandemic and are confident about their prospects, according to a new study.
Franklin Templeton’s inaugural Next-Gen Investor Survey found that over the past 18 months, 80 per cent of respondents continued to invest during the Covid-19 crisis, while an even higher 88 per cent were thinking about investing over the next year.
About 37 per cent had a monthly personal income of less than S$3,000 (US$2,219), with 31 per cent taking home between S$3,000 and S$5,999, 20 per cent making between S$6,000 and S$9,999, and 11 per cent collecting more than S$10,000 monthly.
The online survey examined the investing motivations, intentions and aspirations of Singapore millennials, aged 25 to 35, and Gen-Z, aged 18 to 24, amid the Covid-19 pandemic. There were 502 respondents and the survey was conducted from March 19 to April 6.
A promising finding for the industry is that 83 per cent of respondents are habitual monthly savers and half set aside some of their income specifically for…