Figures of how much people have in their retirement accounts have always intrigued me. Managing my finances well is of paramount importance as i don't want to end up like the broke masses. Figures for S'poreans are grim & on Msian side it's the same.
When it comes to wealth, the 80/20 Pareto principle is even more pronounced. Azizi Ali, a Msian finance book author wrote that 94% of Msians have less than RM100,000 in their accounts. Forced savings already so pathetic, real savings is even worse.
No. of Active Contributors
600,000 to 1,000,000
100,000 to 600,000
50,000 to 100,000
For S'poreans, the situation is worse with much of it sucked up by housing mortgages & many has been brainwashed that their aging 99 year leasehold flats are worth a lot.