SINGAPORE, Nov 22 — A majority of young Singaporeans in their 20s worry that they cannot afford housing and retirement, but they are aiming for a retirement lifestyle that would cost almost S$6,000 (RM19,916) a month.

This was a finding from a recent study done by OCBC bank. Its Financial Wellness Index 2022, published today, is based on responses from 2,182 working adults here between the ages of 21 and 65. The survey was done through an online form in August this year.

In it, respondents were asked to choose among three lifestyles for retirement, from "basic” to "luxurious”.

The basic lifestyle would require about S$2,500 a month and afforded the following: