Future care costs weigh on Malaysians: Manulife survey
KUALA LUMPUR: Financial preparedness remains a key concern among Malaysians with 70 per cent worried about their ability to fund future care needs, above the Asia regional average of 66 per cent.
KUALA LUMPUR: A Manulife survey reveals that 70% of Malaysians are concerned about funding their future care needs, compared to the Asia average of 66%. The survey, which polled over 9,000 people across Asia, found that 1,000 Malaysians participated. Most Malaysians anticipate relying on personal savings (83%), investments (52%), and insurance (40%) to cover these costs.
Only 23% plan to seek help from their children, reflecting a preference for financial independence. Those already saving and investing plan to shift towards income-generating investments, diversify their portfolios, and seek professional advice. Health experts emphasize the importance of preventive healthcare, suggesting that Malaysians should prioritize staying healthy, investing in their well-being, and adopting healthier lifestyles to reduce costly medical treatments.
Nearly nine in ten Malaysians view preserving independence as their primary longevity goal, with 68% allocating assets towards their long-term health and financial security.
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