Young people need reality check: JPMorgan Asset Management

Young Hong Kong adults in their early 30s have their heads in the clouds building castles in the air, according to JP Morgan Asset Management.

Its study focused on Hong Kong people aged from 20 to 29, and found that many were simply unrealistic about achieving their financial goals.

While they aimed to save, on average, HK$6 million before they retire, up to 51 per cent could only save less than HK$5,000 per month, the survey found. Given Hong Kong’s low interest rate environment, it would take nearly a century for this group to retire, based on their current saving rate.

via Business feed http://www.scmp.com/business/money/money-news/article/1056963/young-people-need-reality-check-jpmorgan-asset-management