Here’s Why Singaporeans are Rich but Unhappy

In a recent survey, it seems that wealth doesn’t always translate to contentment, particularly for Singapore’s high-net-worth individuals. 

The study, conducted by Switzerland’s Banque Lombard Odier & Cie SA, uncovered a surprising trend – only 30% of millionaires in Singapore are truly happy with their work-life balance. This finding positions Singaporean millionaires as the least satisfied among their Asia Pacific peers.

Thailand takes the lead in this ranking, with an impressive 72.7% of high-net-worth individuals expressing satisfaction with their work-life balance. Australia closely follows as the second most content group. The study highlights a paradox within Singapore’s affluent community, showcasing that prosperity doesn’t guarantee happiness.

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Singaporeans are Rich but Unhappy?

So, what’s causing this discontent among Singapore’s millionaires? Part of the answer might lie in their extended working hours. The survey reveals that 26% of respondents frequently work overtime. 

Did you know that Singaporeans put in the longest weekly hours in all of Asia Pacific, clocking in at an average of 45 hours a week? This data comes from a study conducted by The Instant Group, a flexible workspace company from London.

But here’s the interesting part – it seems like the younger generation in Singapore is changing the old “work is life” mindset. They’re less inclined to see work as everything in life.

With a looming massive wealth transfer on the horizon in Asia, future leaders may prioritize work-life balance and overall well-being. This shift could redefine the narrative for Singapore’s millionaires, offering hope for a more balanced and fulfilling lifestyle.