The idea of living a century was once confined to science fiction. But no longer. For Hong Kong’s wealthy, living a 100-year life is not an outcome they consider a mere possibility. It’s one they expect.
An increasingly strong belief that they will live to 100 is driving significant changes in spending, investing and legacy behavior by Hong Kong’s wealthy.
This is the key finding from the latest UBS Investor Watch, the largest recurring global study of High Net Worth Individuals (HNWIs) (with at least US$1 million in investable assets) in the world, which covers the views of over 5,000 investors across the world in 10 markets (Hong Kong, Singapore, Taiwan, Germany, Italy, Mexico, Switzerland, the U.S., U.K. and UAE).
We discovered some interesting findings:
- Most investors in Hong Kong believe they will live to 100, but this is causing some financial anxiety
- They believe work is positive for health, but they have taken steps to improve their work/life balance to ensure this is the case
- Living longer is changing legacy decisions – they want to give more away while they’re alive, and many are considering skipping a generation
- Despite personal concerns, Hong Kong’s wealthy are keen to invest in health to create a positive social impact