Introducing Singlife's Financial Freedom Index (FFI)
At Singlife, we believe that financial freedom is more than just a goal; it's a journey that empowers individuals to take control of their financial wellbeing at every stage of life.
To better understand the evolving needs of our fellow Singaporeans, we are proud to present Singlife’s inaugural Financial Freedom Index.
The Index measures the degree to which individuals in Singapore feel financially free and is the result of a comprehensive consumer survey. Between December 2022 and January 2023, we engaged 3,000 Singaporeans and Permanent Residents aged between 18 and 65, representing diverse income levels and life stages.
By capturing the sentiments and perspectives of our community, the Index offers invaluable insights into what financial freedom means, how it is perceived, and what factors contribute to its attainment.
Explore the key findings to empower your own journey to financial freedom!
60 out of 100
The average score amongst Singaporeans on the Financial Freedom Index.
7 in 10
Feel that financial freedom is important.
1 in 2
Singaporeans are still unsure or never thought about financial freedom.
Do not feel confident that they have the choice to stop working/retire whenever they want to.
In savings to feel financially free. The average Singaporean will take 27.3 years to accumulate this amount.
Sounds Impossible? Not at all!
We not only grasp the significance of solid financial planning, but we're also dedicated to equipping you with the tools and knowledge to navigate your unique path towards financial freedom.
Curious to explore more captivating insights? Just click on "Check out our FFI comic!" button, and we’ll send you the comic.
Get in touch with our team for a personalised and professional financial advice as you chart your course to financial freedom. Simply email us at [email protected].
The Financial Freedom Index is a study commissioned by Singlife, a leading homegrown financial services company, with the objective of understanding the current perception of financial freedom amongst individuals in Singapore. The Index captures the extent to which individuals feels financially free, reflecting their emotions and sentiments towards their financial situation.
The self-administered survey was conducted online from December 2022 to January 2023. It involved 3,000 Singaporeans and Permanent Residents (PRs) aged between 18 and 65 years.
The Index is based on a single direct question, using a scale of 1 to 10, where 10 represents "Extremely financially free" and 1 denotes "Not at all financially free." Participants were asked to rate how financially free they felt. The survey evaluated the Index using 25 indicators categorised under six key themes contributing to financial freedom.