Design your dream weekend bag & stand to win up to S$500 cash

A buoyant mood with the recovering economy

Nevertheless, most are retaining an optimistic outlook. This result is not wholly unexpected as recent news reports revealed that the Gross Domestic Product (GDP) went up by 14.2% in the third quarter, with growth likely to come in 2010.

The strongest positive sentiments came from individuals in the S$4000 and above monthly income bracket, with 2 in 5 being most optimistic of an improvement in the economy. This is good news as this group has more disposable income, and may be inclined to spend more in 2010.

With the integrated resort, Resorts World at Sentosa taking the lead in opening next year, the economy looks set to recover faster as people gain confidence.

Most people are guardedly optimistic about the stock market’s recovery. One in 5 thinks that the stock market will still fluctuate in 2010, while only 3 in 10 individuals expect the property and stock market to improve slightly. While such sentiments may be deemed as cautious or conservative, it is clear that the recession in 2009 is still fresh in people’s minds.

3 in 5 Singaporeans want to focus more on saving in 2010

The financial storm of the past two years has clearly made an impact, motivating Singaporeans to strengthen their financial positions as a buffer against bad times.

38% of retirees are uncertain

One group remains somewhat uncertain about the future – individuals near retirement, or retirees themselves. In our survey, a quarter of all individuals polled were unsure about how things would turn out. However, in contrast to the other groups, the retiree segment had a sizeable 38% of individuals expressing uncertainty about what lies ahead.

Retirees expressed anxiety over the security of their future – a future of increased life expectancy, rising medical costs, and few or no children to count on for financial support.

Singaporeans' resolutions 2010

Here are the top 3 resolutions for the New Year:

Here are the top 3 resolutions for the New Year based on different life stages:

Family remains top priority

When financial stability is in question, people look towards the bedrocks in their life for comfort and support. The survey findings reveal that Singaporeans are reassessing their priorities and putting a renewed focus on the non-material aspects of their lives. 3 in 10 surveyed will spend more money on the family or their children while 2 in 5 of those surveyed have also indicated that they will not change their expenditure on family needs.

It is clear that despite economic uncertainty, Singaporeans are putting their families first and foremost, and looking towards strengthening family bonds.

Besides the family, poll results also indicate that health and wellness will receive greater attention in the coming year.

Beyond a material world

With greater economic uncertainty, Singaporeans are finding more reasons to cherish their nearest and dearest, and to bring their attention back towards intangible wealth, like having a healthy body and mind.

More care in financial planning and a stronger focus on the non-material aspects of life are encouraging as Singaporeans move towards the future with greater confidence.

*Source: From a survey commissioned by OCBC Bank on ‘Singaporeans’ Resolutions and Goals for 2010’ conducted by idealog Singapore via face-to-face interviews with a representative sample of 348 adults aged 20 to 70 years old and 32 children aged 7 to 9 years old.

IMPORTANT NOTICE
Insurance plans are underwritten by The Overseas Assurance Corporation Limited and/or The Great Eastern Life Assurance Company Limited, both wholly-owned subsidiaries of Great Eastern Holdings Limited and members of the OCBC Group. They are not bank deposits or obligations of, or guaranteed by OCBC Bank. Terms and conditions apply. MAX is a registered trademark of The Overseas Assurance Corporation Limited. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. It is usually detrimental to replace an existing accident and health policy with a new one. A penalty may be imposed for early policy termination and the new policy may cost more or have less benefits at the same cost. You may wish to seek advice from a financial adviser before making a commitment to purchase a life policy. In the event that you choose not to seek advice from a financial adviser, you should consider whether the life policy in question is suitable for you. The above is for general information only. It is not a contract of insurance. It does not constitute an offer to buy an insurance product or service. It is also not intended to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. A person interested in the insurance policies should read the product summary and benefit illustration (available from OCBC Bank) before deciding whether to buy this product. No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein. OCBC Bank, its related companies, their respective directors and/or employees (collectively “Related Persons”) may have positions in, and may effect transactions in the products mentioned herein. OCBC Bank may have alliances with the product providers, for which OCBC Bank may receive a fee. Product providers may also be Related Persons, who may be receiving fees from investors. OCBC Bank and the Related Persons may also perform or seek to perform broking and other financial services for the product providers. This publication may be translated into the Chinese language. In the event of any ambiguity, discrepancy or omission between the English and Chinese versions, the English version shall apply and prevail. Singapore dollar deposits held by or for an individual or a charity in accounts listed in OCBC Bank’s Insured Deposit Register (available at www.ocbc.com/policies) will be insured in accordance with and for up to the limits specified in the Deposit Insurance Act.