81% of Hong Kongers Put Family Before Retirement Savings

Hongkongers face a tough challenge in balancing family financial duties and personal retirement planning. A Manulife survey shows 81% prioritize family over their own needs. This highlights the significant impact family has on financial decision – making.

Half of those helping elderly family members consider it a financial burden. 57% support parents and 55% support children. Alarmingly, 4 in 10 with elder – care responsibilities don’t discuss finances, and few seek professional advice. 69% manage retirement finances alone, often lacking expert input as they doubt planners understand them.

Calvin Chiu of Manulife emphasizes the need to balance family and personal financial health. Options like mutual funds and MPF contributions can help. Hongkongers also show a cash preference, but those with kids diversify more. Chiu recommends portfolio reassessment with falling interest rates.

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