Making money among Singaporeans' top goals

Alvin Foo, Straits Times 13 Dec 07;

SEEING the world, learning something new and making money.

These were the top three aspirations of Singaporeans, according to a recent OCBC Bank-commissioned survey conducted by research agency AC Nielsen. The results were released yesterday.

The top three aspirations ranked above even health and family. The survey involved telephone interviews with 500 Singaporeans aged between 18 and 64.

It was undertaken to help the bank better understand the goals of Singaporeans, so it can try to help them meet those goals.

The bank plans to share the findings via its 'Ask OCBC' booklets, which will be given out on a quarterly basis.

At the top of the dream list was travel. One in two respondents, or 51 per cent, wanted to explore the world.

Said Ms Ng Li Lian, OCBC's head of marketing services: 'We thought that money and retirement would be highest up on the priorities list, but it turned out to be travel.'

Next on the Singaporean dream list was self-improvement, followed by making money, buying a house and good health.

Then came family and children, charity and volunteering. Completing the list of 10 dreams were owning a car, starting a business and retiring early.

The AC Nielsen survey is the start of a process through which OCBC aims to find out more about Singaporeans' aspirations.

Ms Ng added: 'It's a method through which we can reach out to customers in a more meaningful way, on their own terms rather than on our terms.'

Retiring early low on the list
But charity work is surprisingly among Singaporeans' Top 10 dreams: Survey
Ng Jing Yng, Today Online 13 Dec 07;

It might come as little surprise that Singaporeans' top dreams include travelling and making money.

What would raise eyebrows: The fact that they rate doing charity work even above owning a car or starting a business.

And only three in 100 dream of retiring young, while barely one in four would want to live to be 100 years old.

This, at least, is according to a telephone survey commissioned by the Oversea-Chinese Banking Corporation Limited (OCBC) to discover what dreams people here would like to see come true in the next 10 years. Conducted by AC Nielsen, the survey involved 500 Singaporeans aged between 18 and 64.

On the list of top-ten dreams, "charity and volunteering work coming in at No 7 is surprising, as it shows how the usual assumption of Singaporeans as materialistic is not true", said Ms Ng Li Lian, head of marketing services at OCBC's Department of Consumer Financial Services.

Respondents cited doing mission work overseas and "building a free soup kitchen" for the needy as one of their goals.

One in two Singaporeans want to see the world. But only one in 50 would want to migrate.

In line with becoming a nation of lifelong learners, 23 per cent yearned to pursue further studies or interests such as calligraphy. And asked for their biggest regrets, nearly a third said they would have studied harder or further.

While 13 per cent want to buy landed property, only 9 per cent — who tended to be male, single or in the 18-to-24 age bracket — were interested in buying a car.

That retirement came low on the list of aspirations did not surprise Ms Ng. Financial freedom was the more impor- tant overarching theme for Singaporeans, she noted.

Asked what would be key in achieving their goals, the majority cited saving up or earning more money. Just 4 per cent of respondents opted to leave it to the luck of the 4D or lottery draw.

But, even as the nation grapples with longer lifespans and a later retirement age, only 26 per cent of Singaporeans would want to see their 100th year — men, Malays and those married with young children are more inclined to desire this.

The survey kicks off a series of "dialogues", via SMS, the Internet and more, by OCBC to understand Singaporeans' aspirations, so as to tailor its services and products to their needs.

And as part of this move, it will be publishing — on a quarterly basis — "Ask OCBC" booklets with information on how to achieve their dreams, such as travel ideas, home improvement advice, and financial tips.

Come Monday, 200,000 Today readers will receive free copies of the red booklet. Today is the only paper to be distributed with the English version of the booklet, the first edition of which will include a pull-out calendar, fridge magnets and family activities.