A Generation Under Pressure -
Asia's Sandwich Class

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The sandwich generation face mounting financial pressures

In Singapore and Hong Kong, with an increasing desire to be prepared for financial independence in retirement, 71% and 69% agree that children should not have to support their parents later in life if they have failed to plan their finances properly respectively.

Therefore, St. James’s Place Wealth Management Asia launched this research that looks at the growing financial challenges faced by the sandwich generation – those “sandwiched” between the competing demands and financial responsibilities of both younger and older generations. Additionally, we also explore the implications when it comes to intergenerational wealth planning.

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Key findings

Hong Kong

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Singapore

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Please note that the value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested.

 
 

Hong Kong’s elderly population is expected to reach nearly 35% of the total population base by 2048 according to some statistics. This means families with multi-generational needs will continue to come under pressure to meet the financial needs of an entire family. However, having a plan that takes into account the known and unexpected can go a long way to support families with multiple priorities through the good times and the bad.

OLIVER WICKHAM

Head of Business
St. James's Place Hong Kong

Asian societies like Singapore have an ingrained sense of duty and care for their elders. If you add that to the worries of financially supporting young children as well as navigating ongoing economic uncertainties, the need for this generation to effectively balance these priorities and plan for their future is more important than ever

GARY HARVEY

Chief Executive Officer

St. James's Place Singapore

Image by John O'Nolan

About the Research

A Generation Under Pressure: Asia’s Sandwich Class is an independent research study commissioned by St. James’s Place which looks at the growing financial burdens and challenges faced by the Sandwich Generation and the implications when it comes to intergenerational wealth planning. A total of 2,780 interviews were conducted online in February and March 2022 in Hong Kong (1,360) and Singapore (1,420).


The findings in this survey were analysed and established through a total of 2,017 interviews. Only respondents between the ages of 25-54 and who held personal investments in stocks, property, shares, funds, etc. were interviewed. All respondents were from households with a minimum annual income of HK$400,000 to over HK$1,500,000 for Hongkongers and S$70,000 to over S$250,000 for Singaporeans.

Important notes

Information and/or opinions presented in this research is provided for research informational purpose only. It should not be relied upon as financial advice and it does not constitute a recommendation, an offer or solicitation. No responsibility can be accepted for any loss arising from action taken or refrained from based on this publication. All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted.


©2022 St. James’s Place plc. All rights reserved. “St. James’s Place” and the St. James’s Place Logo are trademarks of St. James’s Place plc.


Excerpts from this report may be used or quoted, provided they are accompanied by the following attribution: ‘Reproduced with permission from "A Generation Under Pressure: Asia's Sandwich Class", published by St. James’s Place Wealth Management.’

 

Please note that the value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested.

 

The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are the marketing terms used to describe St. James’s Place representatives.