Study: Moving from financial stability to abundance takes 32.3 years

Wealth gain: Customers browse fresh seafood at the Tekka Centre in Singapore. A study finds that financial priorities can vary at the different lFevels of wealth, and that individual circumstances and personal preferences do shape financial priorities. — Bloomberg

SINGAPORE: It takes an average of 32.3 years to climb the wealth ladder from the first level of financial stability to the highest level of financial abundance.

This was what wealth manager St James’ Place posits in its report Accelerating The Wealth Journey – From Stability to Abundance, after interviewing 1,000 affluent Singaporeans between the ages of 25 and 64 between February and March 2023.