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Majority of affluent Indonesians plan to retire early
A recent survey shows that 58 percent of affluent Indonesians plan to retire early, and four in five have started saving or investing to make it happen. This contrasts with the reality faced by the average Indonesian.
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Vehicles drive past an electronic billboard (top left) showing COVID-19 coronavirus related images as they crowd a main road leading out of the capital during the early evening rush hour in Jakarta on November 30, 2021. (AFP/Bay Ismoyo)
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ore than half of affluent Indonesians plan to retire early, according to a recent survey by London-based bank Standard Chartered, as the pandemic has prompted people to set new goals in life.
The share of Indonesians with such a plan has reached 58 percent, according to the online survey involving 15,469 emerging affluent, affluent and high-net-worth individuals across 12 countries in June and July this year.
“In Indonesia, more so than any other market, an overwhelming number of the affluent plan to retire before 65,” Standard Chartered stated in its recently published report on the survey.
Millions across the globe have set new life goals for themselves during the COVID-19 pandemic, which has upended many people’s health and finances. These goals include not only a more comfortable retirement, but also improved health and setting aside more resources for the future of their children.
Those goals contrast starkly with figures from Statistics Indonesia (BPS) showing that around half of the country’s elderly, those aged 60 or older, were still working in 2020, either because they faced economic pressure or for self-actualization.
The average net worth of the survey respondents, across all countries, is US$407,000.
