Credit to mevotex@miricommunity.net Across the globe, women from which countries save most of their income? Banking giant HSBC recently conducted the Future of Retirement Survey 2013 to figure how well people save for their retirement. It was found that Asians generally tend to save more than their Western counterparts. Two however, stand out. According to the survey, women from Hong Kong and Singapore are the best savers, salting away more money than women anywhere else on the planet. 
Singaporean women top the list by saving an average US$536 a month, followed by Hong Kong women US$521 a month. This compared with US$336 on average for Asia and US$243 globally. Hong Kong women are slightly more disciplined savers however, with 61 per cent of women save every month, versus 55 per cent of that in Singapore. They are trailed by Taiwan though, where 68 per cent of the women save up their money. "Globally, men seem to be better savers than women" both in terms of their regularity and amounts saved, said Diana Cesar, head of retail banking and wealth management for HSBC's Hong Kong office. Women globally usually save for short-term goals - such as taking a holiday - instead of for retirement, the survey found. 
Around the world, 46 per cent of women save regularly compared to 50 per cent of men. The money women save lasts only 10 years after their retirement, on average, the study found. Yet women usually live 23.3 years after retirement, compared to 18.5 years for men. Hence women often experience financial hardship after retirement. Cesar said: "We noticed that over half of Hong Kong women in their 40s and 50s are concerned about their ability to cope financially in retirement. This suggested that although Hong Kong women may have made some preparations for later years, they are not confident this is sufficient and thus tend to save more." Hong Kong women who seek help from a professional financial adviser would have about 140 per cent more retirement savings than those who did not, she said. 
People in developing countries earn less, but save more than their developed counterparts Among other findings was that, on average, 48 per cent of respondents have never saved specifically for retirement. The majority of non-savers reside in higher-income nations such as France, Australia and the U.K. 31 percent of respondents from the U.S. indicated they have never specifically saved for retirement. Source: http://www.scmp.com/news/hong-kong/article...le-savers-worldhttp://www.philstar.com/business-usual/201...nt-needs-surveyhttp://www.wealthadviser.co/2013/02/20/180...ays-hsbc-surveyhttp://www.scribd.com/doc/126486813/HSBC-T...rement-Feb-2013
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