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Augmented Intelligence will make Financial Planning accessible to all

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72% of Singaporeans are “very or somewhat concerned about being able to live comfortably in retirement” and target an annual return of 8.4% across all their savings and investment products according to a survey from Blackrock in 2016. But they hold about 48% of their savings in cash. In France, 70% of the respondents surveyed by Deloitte think that the current retirement funding system based on inter-generational solidarity will not last and that their pension will only cover 2/3 of their needs (2016). In the USA, the same year, a GoBankingRates report reveals that 56% of Americans have no- or less than $10,000 retirement savings.

 

Different countries, different policies, different cultures. Same aspirations. But same conclusion: when it comes to retirement, governments fail to address their citizens’ needs. Therefore, many are left on their own when planning for their future, not to mention various additional financial uncertainties: purchasing a house, children’s education costs, health issues, accidents, unemployment…

 

This article has been written on Medium by Damien Kopp.
Read the full article here.

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