What Does Financial Success Mean to Singapore’s Gen Z?

For Singapore’s Gen Z, financial success is no longer defined simply by earning a high salary or accumulating as much wealth as possible. Increasingly, it means having financial security, independence and enough flexibility to enjoy life while still preparing for the future.

That shift is taking place against a challenging financial backdrop. Singaporean Gen Zs are entering adulthood while dealing with high living costs, uncertainty around careers, changing expectations about homeownership and the rapid evolution of technology and work.

Yet they are also a generation with strong ambitions. They want to earn more, build savings, invest and create additional income streams. At the same time, they do not necessarily want to sacrifice experiences, purpose or wellbeing in exchange for financial success.

So, what does being financially successful actually mean to young Singaporeans today?

Financial independence is a major priority

One of the clearest answers is financial independence.

Visa’s 2025 Gen Z Decoded study found that 47% of Gen Z respondents in Singapore considered achieving financial independence and security a major life goal, compared with 33% across Asia Pacific.

For a young Singaporean, financial independence can mean more than simply having money in the bank. It can mean being able to pay for everyday expenses without relying on parents, having enough savings to cope with unexpected costs, or having the financial freedom to make personal and career decisions.

Deloitte’s 2025 Gen Z and Millennial Survey similarly found that financial independence was the top career goal for 26% of Gen Z respondents in Singapore, compared with just 8% whose primary goal was reaching a leadership position.

This suggests that the traditional idea of climbing the corporate ladder may be losing some of its appeal. Career advancement still matters, but many young Singaporeans appear to see work primarily as a means of building independence and creating options.

The cost of living is changing the equation

Financial independence is desirable, but achieving it can be difficult when everyday expenses continue to put pressure on household budgets.

In Deloitte’s 2026 Singapore research, 49% of Gen Z respondents identified cost of living as their top concern, while 51% said they had delayed major life decisions because of their financial situation.

This can affect decisions about marriage, starting a family, further education, entrepreneurship and other major milestones.

The result is a more cautious approach to adulthood. Young Singaporeans may still want the same milestones as previous generations, but they may be taking longer to reach them or reassessing when and how they should happen.

Financial success therefore increasingly involves having enough financial flexibility to make major decisions on one’s own timeline.

Rather than asking only, “How much do I earn?”, Gen Z may also be asking, “Can I afford the life I want?”

Saving provides a sense of security

Despite being associated with digital spending and new investment platforms, Gen Z remains interested in saving.

Visa found that 34% of Singaporean Gen Zs save money whenever they can, while close to 40% recognise the importance of saving for major milestones such as marriage and purchasing a home.

However, there is an important difference between understanding the importance of saving and actually having enough money to save.

Deloitte found that 56% of Singaporean Gen Z respondents were living from paycheque to paycheque in its 2025 survey.

This highlights the financial balancing act facing young adults. They may understand that they need an emergency fund and long-term savings, but everyday expenses can make consistent saving difficult.

For this reason, an emergency fund can represent more than a financial target. It can provide psychological security.

Having cash available for an unexpected expense can reduce the need to rely on credit cards, loans or family members. For someone early in their career, that buffer can provide valuable independence.

Gen Z wants to spend—but more intentionally

Being financially responsible does not mean Singapore’s Gen Z wants to stop spending on things they enjoy.

UOB’s 2025 ASEAN Consumer Sentiment Study found that 73% of Gen Z respondents across ASEAN preferred spending for enjoyment now rather than worrying about the future. Younger consumers were also more likely to view experiential spending as essential.

The trend is visible among younger UOB customers in Singapore. Their spending on dining, entertainment and travel increased 17% year on year in the first half of 2025, the highest increase among the age groups measured by UOB.

This does not necessarily mean Gen Z is ignoring financial responsibility.

Instead, it reflects a desire to balance saving for tomorrow with living today.

For this generation, a financially successful life may still include holidays, concerts, dining out and other experiences. The difference is that these purchases increasingly need to fit within a broader financial plan.

The goal is not necessarily extreme frugality. It is knowing what is worth spending on.

Investing is becoming more mainstream

Singapore’s Gen Z is also becoming increasingly interested in investing, although there is still a considerable knowledge gap.

Visa found that stocks and equities were the most popular investment tools among Singaporean Gen Z respondents, at 27%, followed by trust funds at 16% and cryptocurrency at 14%.

Peer influence is also significant. 30% said they started investing because their friends had started investing.

This is a reflection of the digital environment Gen Z grew up in. Financial information is easily accessible through social media, online communities, videos and investing platforms.

But accessibility can also create risks.

Knowing about stocks or cryptocurrency is not the same as understanding investment risk. Young investors may encounter pressure to chase trends or seek quick returns, particularly when financial content is presented as entertainment.

Visa’s research found that only 36% of Singapore’s Gen Z respondents were confident in their financial-management abilities, while 68% were familiar with saving compared with only 30% who said they were familiar with investing.

That gap shows why financial education may become increasingly important as Gen Z moves from simply earning money to actively building wealth.

Multiple income streams are attractive

Another emerging priority is having more than one source of income.

Prudential Singapore’s 2025 SG60 Financial Future Poll found that 41% of Gen Z respondents were focused on earning multiple income streams.

For some, this may involve freelance work, online businesses, side projects or investment income. For others, it may simply mean developing skills that allow them to earn from different opportunities throughout their careers.

The appeal is easy to understand.

Depending entirely on one salary can feel risky in an economy where technology, artificial intelligence and business conditions are changing rapidly. Multiple income streams can potentially provide additional financial resilience while giving young people more flexibility.

It can also support another major Gen Z priority: independence.

Having several ways to earn may make it easier to change jobs, take career breaks, travel or pursue entrepreneurial opportunities without completely losing financial stability.

Retirement matters, but it feels far away

Gen Z may be thinking about financial freedom, but retirement planning is still an area where many young Singaporeans have not taken concrete action.

Prudential’s 2025 poll found that 51% of Gen Z respondents were confident they would be able to retire well, including covering daily necessities, healthcare and other expenses. However, 72% said they did not have a retirement plan.

The gap between confidence and preparation is notable.

Many Gen Zs are still students or relatively new to the workforce, so retirement can seem too distant to prioritise. They may prefer to focus first on increasing their income, paying current expenses and building an initial savings cushion.

Interestingly, 54% said they expected to retire by age 60, while 20% aimed to retire by 50. Another 22% were interested in having multiple “micro-retirements”—taking extended breaks during their working lives rather than waiting for one traditional retirement.

This points to a broader rethinking of what retirement means.

Career success is about more than salary

Money remains central to financial wellbeing, but Gen Z does not necessarily view income as the only measure of a successful career.

Deloitte found that 94% of Singaporean Gen Z respondents consider having a sense of purpose important to job satisfaction and wellbeing.

The same research shows that Gen Z is increasingly looking for stability, skills development and wellbeing rather than simply pursuing rapid advancement. In Singapore, 46% said they seek steady progress in their careers, compared with 25% who prefer fast-paced growth.

That creates an interesting definition of financial success.

A job that pays more but leaves little time for family, relationships or personal interests may not necessarily be considered a better outcome. For many young workers, the ideal is a sustainable career that provides adequate income without consuming their entire life.

Financial success, therefore, is increasingly connected to quality of life.