Vietnam: Rising priority on financial independence for retirement

According to the Manulife Asia Care 2026 survey, Vietnamese people are increasingly prioritizing financial independence and autonomy in their later years. The study of 1,000 Vietnamese participants indicates that aging brings challenges of dependency, with individuals expecting to need financial support for approximately 13 to 15 years and physical care for about 9 to 10 years.

To mitigate these risks, 89% of respondents view financial independence as the most important legacy to leave their families, and 57% express a desire to avoid becoming a burden to relatives. Consequently, there is a shift in financial allocation; roughly two-thirds of assets are being prioritized for personal maintenance during retirement rather than being passed down to children.

Experts suggest that effective retirement planning requires more than just accumulating a lump sum. Successful preparation involves understanding specific monthly living costs, establishing diverse income streams, and managing risks such as inflation and medical expenses through structured financial management, such as dividing funds into specific categories like living expenses and medical reserves.