Majority unlikely to leave jobs that help with financial preparedness: report

There is a relationship between one’s sense of financial preparedness and a sense of self.

Nearly three-quarters (71%) in Singapore were less likely to leave jobs providing support that help with financial preparedness, according to the Endowus x Intellect Wealth and Wellbeing Report. 

The majority (88%) of respondents agreed that financially preparedness encouraged a growth mindset and pushed them to seek out learning and personal growth opportunities. 

“Improving individuals' financial preparedness will strengthen the very fabric of society, by enabling more people to achieve retirement adequacy and avoid longevity risk, that is, not having enough to support their silver years,” Samuel Rhee, co-founder and chairman of Endowus, said.

85% agreed that being financially prepared allows them to more easily bounce back from setbacks, while 84% said that cultivating resilience motivated them to always improve their financial preparedness.

“The power of financial knowledge is especially critical in a challenging environment of protracted financial pressures, with inflation eroding the value of cash and deposits and the chances of home ownership diminishes more for the next generation,” Rhee said.

The report surveyed 1,000 Gen Z and Millennial workers in Singapore and Hong Kong.