During January to February of this year, Manulife conducted a questionnaire to more than 1,000 adults aged 25 to 60 in Hong Kong to understand their confidence in achieving their ideal level of financial, mental, and physical health in ten years. Respondents indicated that their goal was to achieve a score of 85 in both economic and mental health and a score of 86 in physical health on a scale of 1 to 100. However, their expectations fell short, as estimated scores for financial, mental, and physical health were only 70, 71, and 71, respectively, with a difference of 15, 14, and 15 points. This indicates a significant gap in confidence among citizens regarding reaching their ideal level of financial, mental, and physical health in the next ten years.
The survey found that Hong Kong respondents have taken various measures to cope with the impact of rising medical costs, including paying more attention to their diet (41%), using less expensive medical services (25%), postponing or giving up physical examinations (19%), and choosing medical insurance plans with lower premiums and less coverage (18%). These measures reveal the different approaches people take to address economic pressures and the difficult choices they often face in maintaining financial stability and ensuring physical health.
In addition, the survey results also highlight the impact of mental health on physical health, where stress (34%) and anxiety (28%) are considered the two major factors affecting future mental health. On the other hand, concerns about serious illnesses such as cancer and heart disease are viewed by respondents as the main obstacles to achieving their ideal level of physical health.
The survey also reflected a shift in the public's attitudes towards taking care of their children and elderly parents. Approximately 37% of adult respondents in Hong Kong with children or planning to have children said they would not rely on their children for financial support in their later years. With this changing attitude, 70% of married respondents with children planned to delay their retirement age, which could affect people's expectations for retirement planning products and services.