--- title: Do Singaporeans Feel Financially Free? — Financial Independence Report 2025 by CIMB Singapore description: 2 in 3 Singapore residents aim to be financially independent between age 40 and 60 image: https://static1.straitstimes.com.sg/s3fs-public/articles/2024/09/17/Couple%20financial%20planning.jpg?VersionId=0hIA_hZlbUBYVLXc9Qpj4DBXmc6Y.JZE --- [Skip to content](https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free#main-content) [![Full_COlour](https://www.thefinancialcoconut.com/hs-fs/hubfs/Full_COlour.png?width=456&height=80&name=Full_COlour.png)](https://www.thefinancialcoconut.com/) - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) Open main navigation Close main navigation - [Retirement Marketspace](https://retirementmarketspace.thefinancialcoconut.com/) - [Events](https://www.thefinancialcoconut.com/events) Show submenu for Events - [For Investors](https://tfcmysterymeetup.com/) - [For Business Owners & Creators](https://ipcreatorunite.peatix.com/) - [For Salaried Workers](https://www.thefinancialcoconut.com/thought-leadership-series) - [TFC Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) Show submenu for Shows - [Wise and Shine](https://www.thefinancialcoconut.com/wise-and-shine) - [The Business Show](https://www.thefinancialcoconut.com/tfc-business-show) - [Chills with TFC](https://www.thefinancialcoconut.com/chills-with-tfc) - [Blog](https://www.thefinancialcoconut.com/blog) Show submenu for Blog - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - [Business](https://www.thefinancialcoconut.com/business) - [Contact us](https://www.thefinancialcoconut.com/contact-us) [Contact us](https://www.thefinancialcoconut.com/contact-us) May 5, 2025, 12:08:17 PM # Do Singaporeans Feel Financially Free? — Financial Independence Report 2025 by CIMB Singapore ![Picture of The Financial Coconut](https://www.thefinancialcoconut.com/hs-fs/hubfs/Square%20(2)-3.png?width=50&name=Square%20(2)-3.png) [The Financial Coconut](https://www.thefinancialcoconut.com/blog/author/the-financial-coconut) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [envelope icon](mailto:?body=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [Share this page](https://twitter.com/intent/tweet?url=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [![Follow The Financial Coconut](https://no-cache.hubspot.com/cta/default/46975693/interactive-182431637553.png)](https://cta-service-cms2.hubspot.com/web-interactives/public/v1/track/redirect?encryptedPayload=AVxigLL2CjCe42iR2RH2MpVX0Ej%2BKJQ%2F3A0Z7pXnUs35To%2Bo6nbKcpBVq9I98X5NUungVEwfs5YCKuM%2FaP97VxIITkTlihT57%2F%2F4XDW9rT3VR4MatSLDi%2BMU5mbQqihfX3LRRz83ij8K19OiD8UXy8sdct4t0Q%3D%3D&webInteractiveContentId=182431637553&portalId=46975693)   Financial independence (FI) has become a universal aspiration for many Singapore residents in today's fast-paced and ever-changing economic landscape. According to the **CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025**, two out of three Singaporeans aim to achieve financial independence between the ages of 40 and 60. But what does this mean for different generations, and how are they planning—or not planning—to get there? We explore the key findings from CIMB’s report, exploring aspirations, challenges, and strategies for achieving financial independence. Whether you’re under 30, navigating your peak earning years, or planning for retirement, these insights will help you understand where Singapore stands on the journey to financial freedom. ![Singapore - Wikipedia](https://upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Marina_Bay%2C_Financial_District_and_Singapore_River_%2835622190292%29.jpg/960px-Marina_Bay%2C_Financial_District_and_Singapore_River_%2835622190292%29.jpg) ### **Aspirations for Financial Independence: A Shared Goal** | **Aspect** | **Details** | | --- | --- | | **Age Ambitions** | **63%** of Singapore residents aspire to achieve financial independence between **40 to 60 years old**. Young Adults Under 30: 60% aim for independence before age 40, reflecting ambition and confidence. | | **Confidence Across Generations** | **Under 30s**: Highest confidence in achieving early financial independence, with **54%** confident in their financial management skills. Middle-Aged Groups (40–50): Report higher financial anxiety, with 47% experiencing stress related to finances. | | **Financial Goal Amount** | **52%** believe they need **more than S$1 million** for financial independence, a sentiment consistent across all age groups. | This sentiment is consistent across all age groups, underscoring the universal perception that financial freedom requires substantial savings. ### **Barriers to Achieving Financial Independence** Despite widespread aspirations, several barriers stand in the way of achieving financial independence: ### **Top 3 Challenges** 1. **High Cost of Living**: Rising expenses make it harder to save and invest. 2. **Family Responsibilities**: Supporting dependents adds financial strain. 3. **Low Income**: Limited earnings restrict the ability to build wealth. ### **Planning Preparedness** - **71%** of respondents have some form of financial plan, but only **48%** have started planning specifically for retirement. - **Reasons for Not Planning**: 1. Financial obligations (e.g., debt, daily expenses). 2. Over-reliance on CPF as a sole retirement solution. 3. Lack of knowledge about financial planning tools and strategies. ### **![Beyond basics: How to build your own comprehensive financial plan | The Straits Times](https://static1.straitstimes.com.sg/s3fs-public/articles/2024/09/17/Couple%20financial%20planning.jpg?VersionId=0hIA_hZlbUBYVLXc9Qpj4DBXmc6Y.JZE)** ### **Strategies for Financial Growth** Singapore residents are leveraging various tools to grow their wealth, but opinions on their effectiveness vary: | **Aspect** | **Details** | | --- | --- | | **Top 3 Tools for Financial Growth** | 1. **Savings and Fixed Deposits**: Popular for stability, but may not offer high returns. 2. **Stocks**: A go-to for wealth accumulation, though it comes with risks. 3. **Insurance**: Widely used, but **39% are unsure** about its effectiveness as an investment tool. | | **Generational Differences** | - **Under 30s**: Most open to seeking financial advice and experimenting with diverse investment tools. - Older Generations: Rely more on traditional methods like savings and CPF, potentially missing opportunities for higher growth. | ### **Psychological Factors: Confidence vs. Anxiety** ### **1. Optimism About Achievability** - **72%** believe financial independence is a realistic goal, showcasing widespread optimism. ### **2. Financial Anxiety** - **39%** of respondents report feeling financial anxiety “often” or “always.” - **Peak Anxiety Group**: Those aged **40–50**, likely due to balancing family responsibilities, career pressures, and retirement planning. > [View this post on Instagram](https://www.instagram.com/reel/DIOBWFggfam/?utm_source=ig_embed&utm_campaign=loading) > > [A post shared by CIMB Singapore (@cimbbanksg)](https://www.instagram.com/reel/DIOBWFggfam/?utm_source=ig_embed&utm_campaign=loading) ### **Key Takeaways: Lessons for Every Age Group** ### **For Young Adults (Under 30)** - **Strengths**: High confidence and willingness to seek advice position this group well for early financial independence. - **Action Steps**: Start investing in diversified portfolios (e.g., stocks, ETFs) and leverage tools like CPF and insurance for long-term growth. ### **For Middle-Aged Groups (40–50)** - **Challenges**: Higher financial anxiety and competing priorities can derail progress. - **Action Steps**: Reassess financial plans, reduce reliance on CPF alone, and explore income-generating investments to bridge gaps. ### **For Older Adults (50+)** - **Challenges**: Limited time to accumulate wealth necessitates strategic planning. - **Action Steps**: Focus on preserving capital while ensuring steady income through annuities, dividend-paying stocks, or rental properties. ### ![2025 Singapore Travel Guide | Expedia Malaysia](https://a.travel-assets.com/findyours-php/viewfinder/images/res70/542000/542607-singapore.jpg) The **CIMB Singapore Report 2025** paints a clear picture: Financial independence is a shared aspiration. However, achieving it requires overcoming significant hurdles. From high living costs to family responsibilities and lack of planning, the challenges are real. But so are the opportunities. By understanding your financial goals, addressing barriers, and adopting tailored strategies, you can take meaningful steps toward financial freedom. Whether you’re just starting out or nearing retirement, remember that every small step counts. **References** - CIMB Singapore: Attitudes and Beliefs towards Financial Independence Report 2025. Let us know what you think about this topic, and what do you want to hear next. You can now be our community contributor and make a [pitch ](https://thefinancialcoconut.com/contact/)to have your favourite personality be on our show. Join our [community group](https://linkin.bio/thefinancialcoconut/?fbclid=PAZXh0bgNhZW0CMTEAAaY2-JSYItZawSUnNP4YhAicLp0H2wXwx8EBmQgbzOJrjA6YRiPWXtFDSH4_aem_t1DMRY5jrSAapreaSX9ntw) and drop us your insights on this topic.   ### Stay ahead in your financial journey! Sign up for our newsletter to receive insights, tips, and strategies from The Financial Coconut Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [envelope icon](mailto:?body=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [Share this page](https://twitter.com/intent/tweet?url=https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free) [![](https://isomer-user-content.by.gov.sg/366/7c52f3d4-9f2d-456b-ae96-e74af6df2428/18_attractive%20lakefront_render_small.jpg)](https://www.thefinancialcoconut.com/blog/singapore-property-market-2026-why-prices-are-slowing-while-land-supply-hits-a-decade-high) ## [Singapore Property Market 2026: Why Prices Are Slowing While Land Supply Hits a Decade High](https://www.thefinancialcoconut.com/blog/singapore-property-market-2026-why-prices-are-slowing-while-land-supply-hits-a-decade-high) [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/singapore%20parents%20worry%20about%20money-png.png?height=200&name=singapore%20parents%20worry%20about%20money-png.png)](https://www.thefinancialcoconut.com/blog/why-do-smart-singaporeans-still-fall-for-scams-inside-2026s-nanning-scheme-and-pump-and-dump-wave) ## [Why Do Smart Singaporeans Still Fall for Scams? Inside 2026's Nanning Scheme and Pump-and-Dump Wave](https://www.thefinancialcoconut.com/blog/why-do-smart-singaporeans-still-fall-for-scams-inside-2026s-nanning-scheme-and-pump-and-dump-wave) [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/petrol%20price%20september%202026.jpeg?height=200&name=petrol%20price%20september%202026.jpeg)](https://www.thefinancialcoconut.com/blog/can-singaporeans-still-get-cheap-petrol-in-johor-bahru) ## [Can Singaporeans Still Get Cheap Petrol in Johor Bahru?](https://www.thefinancialcoconut.com/blog/can-singaporeans-still-get-cheap-petrol-in-johor-bahru) [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/fifty-singapore-dollars-banknote-2026-01-08-06-46-27-utc.jpg?height=200&name=fifty-singapore-dollars-banknote-2026-01-08-06-46-27-utc.jpg)](https://www.thefinancialcoconut.com/blog/singapore-savings-bonds-yields-hit-a-14-month-high-should-you-switch-from-t-bills) ## [Singapore Savings Bonds Yields Hit a 14-Month High: Should You Switch From T-Bills?](https://www.thefinancialcoconut.com/blog/singapore-savings-bonds-yields-hit-a-14-month-high-should-you-switch-from-t-bills) [Personal Finance](https://www.thefinancialcoconut.com/blog/tag/personal-finance) ## Let us know what you think of this post ## Related posts [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/istock-847156808.webp?height=200&name=istock-847156808.webp)](https://www.thefinancialcoconut.com/blog/strategies-for-financial-freedom) [retire well](https://www.thefinancialcoconut.com/blog/tag/retire-well), [Invest](https://www.thefinancialcoconut.com/blog/tag/invest) ## [Traditional Methods vs. FIRE: Strategies for Financial Freedom in Singapore](https://www.thefinancialcoconut.com/blog/strategies-for-financial-freedom) Achieving financial freedom is a goal shared by many, especially as retirement approaches. In... [Read more](https://www.thefinancialcoconut.com/blog/strategies-for-financial-freedom) [![](https://www.thefinancialcoconut.com/hs-fs/hubfs/sad-upset-businessman-sitting-hopelessly-on-stair-2026-03-13-04-39-05-utc.jpg?height=200&name=sad-upset-businessman-sitting-hopelessly-on-stair-2026-03-13-04-39-05-utc.jpg)](https://www.thefinancialcoconut.com/blog/retrenchment-resources) [Work Smart Popular](https://www.thefinancialcoconut.com/blog/tag/work-smart-popular) ## [Retrenched in Singapore? Key Career and Financial Resources to Know](https://www.thefinancialcoconut.com/blog/retrenchment-resources) TLDR Retrenchment in Singapore, while at historically low levels, continues to affect workers... [Read more](https://www.thefinancialcoconut.com/blog/retrenchment-resources) [![](https://dam.mediacorp.sg/image/upload/s--_Z_RWi8k--/c_fill%2Cg_auto%2Ch_468%2Cw_830/f_auto%2Cq_auto/v1/mediacorp/cna/image/2024/11/25/iStock-1365204248.jpg?itok=lhpUOuYY)](https://www.thefinancialcoconut.com/blog/sg-political-parties-plan-to-shape-your-financial-future) [Singapore General Election](https://www.thefinancialcoconut.com/blog/tag/singapore-general-election) ## [Election 2025: How Singapore's Political Parties Plan to Shape Your Financial Future](https://www.thefinancialcoconut.com/blog/sg-political-parties-plan-to-shape-your-financial-future) As Singapore approaches its watershed 2025 General Election, the financial stakes have never been... [Read more](https://www.thefinancialcoconut.com/blog/sg-political-parties-plan-to-shape-your-financial-future) [![Logo_White](https://www.thefinancialcoconut.com/hs-fs/hubfs/Logo_White.png?width=111&height=69&name=Logo_White.png "Logo_White")](https://www.thefinancialcoconut.com/) [facebook-f icon](https://www.facebook.com/financialcoconut/) [linkedin-in icon](https://sg.linkedin.com/company/the-financial-coconut) [TikTok icon](https://www.tiktok.com/@thefinancialcoconut?lang=en) [instagram icon](https://www.instagram.com/thefinancialcoconut/) [Follow us on Facebook](https://www.youtube.com/channel/UCREEmSahtQyTBjJudI6kgmg) [Follow us on Facebook](https://open.spotify.com/show/6ndJZx2bk8jYgQHAXIwg1C) [Follow us on Facebook](https://podcasts.apple.com/sg/podcast/the-financial-coconut-podcast/id1487004505) 6 Shenton Way, OUE Downtown 2, #07-13, Singapore 068809 Copyright © 2025 - - [About Us](https://www.thefinancialcoconut.com/about-us) - [Events](https://www.thefinancialcoconut.com/events) - [Shows](https://www.thefinancialcoconut.com/tfc-shows) - [Blog](https://www.thefinancialcoconut.com/blog) - - [Work Smart](https://www.thefinancialcoconut.com/worksmart) - [Invest](https://www.thefinancialcoconut.com/invest) - [Business](https://www.thefinancialcoconut.com/business) - [Retire Well](https://www.thefinancialcoconut.com/retire-well) - - [Contact Us](https://www.thefinancialcoconut.com/contact-us) - [Work With Us](https://www.thefinancialcoconut.com/workwithus) - [Ask Our Experts](https://www.thefinancialcoconut.com/ask-us) - [Make Your Pitch](https://www.thefinancialcoconut.com/make-your-pitch) - [Service and User Agreement](https://www.thefinancialcoconut.com/service-agreement) - [Privacy Policy](https://www.thefinancialcoconut.com/privacy-policy) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "The Financial Coconut", "url" : "https://www.thefinancialcoconut.com/blog/author/the-financial-coconut" }, "dateModified" : "2025-05-05T07:30:13.341Z", "datePublished" : "2025-05-05T04:08:17.000Z", "headline" : "Do Singaporeans Feel Financially Free? — Financial Independence Report 2025 by CIMB Singapore", "image" : [ "https://static1.straitstimes.com.sg/s3fs-public/articles/2024/09/17/Couple%20financial%20planning.jpg?VersionId=0hIA_hZlbUBYVLXc9Qpj4DBXmc6Y.JZE" ], "mainEntityOfPage" : { "@id" : "https://www.thefinancialcoconut.com/blog/do-singaporeans-feel-financially-free", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.thefinancialcoconut.com/hubfs/Full_COlour-2.png" }, "name" : "The Financial Coconut" } } ```