S'poreans would be happier with more money: survey

[Musicwhiz]

This sounds like a very silly survey to me!

Business Times - 25 Oct 2011

S'poreans would be happier with more money: survey

Baby boomers the happiest, young adults unhappiest

By CHUANG PECK MING

WITH echoes of last week's debate on economic growth and happiness in Parliament still ringing in many ears, the results of a survey released yesterday could make you wonder what the fuss was all about.

The survey by advertising firm Grey Group found that Singaporeans are happy on the whole, with 52.8 per cent of the 200 Singaporeans (including permanent residents) polled indicating they are generally in a state of bliss - thanks to a happy home, family and spiritual well-being.

About 78 per cent of those polled ranked Singapore as the place that offers the best home and surroundings.

The survey, done in June, also seems to underscore that money remains the basic key to happiness in Singapore, which justifies the pursuit of a bigger gross domestic product (GDP) - the main beef of the critics who raised the issue last week.

Savings and spending are the two sources of unhappiness among most Singaporeans, according to the survey. Some 46.5 per cent of those polled reported they didn't have enough savings in the past six months - and over a third of them in the middle-age group (30-44 years) were the 'least happiest' about it.

Nearly a third (32.81 per cent) of the middle- aged respondents were most unhappy with their expenditure in the last six months - a figure higher than that for young adults (19-29), baby boomers (45-59) and silver generation (over 60).

Overall, 40.5 per cent of Singaporeans were unhappy with their expenditure, the survey shows.

The suggestion is that the unhappy savers and spenders could do well with more income - which usually comes with a booming economy that provides higher-paying jobs.

Indeed, a significant 27 per cent of the Singaporeans polled worried about the economy, given the debt problem in Europe and stalled growth in America.

And Subbaraju Alluri, Grey's chief executive in Singapore, sees the number rising in the coming months as the twin threats of high inflation and low growth hit home.

While the survey produces findings that are in line with popular notions about happiness, there are also bits that are troubling.

The finding that the middle-age group are stressed and feel sandwiched shouldn't raise eyebrows, but one didn't expect young adults to be the unhappiest lot. Mr Alluri admitted that even he was surprised.

Young people define a society - and they should be happy, especially in Singapore, according to him.

The survey shows young Singaporeans are most unhappy with their savings, spending and jobs.

The overall unhappiness with savings - despite the fact that Singaporeans are among the world's biggest savers - is also worrisome, Mr Alluri said.

The survey found baby boomers to be the happiest among the age groups. Mr Alluri guessed it's because their kids have grown up and their retirement needs are well taken care of.

Men were also found to be happier than women. The latter said that they were less happy because they had to juggle between their roles of playing both mother and worker.

[Musicwhiz]

The Straits Times
Oct 25, 2011
Baby boomers happiest of all: Poll
Young people aged 18 to 29 are unhappiest in the survey of 200 in Singapore

By Leow Si Wan

THE happiest people in Singapore are baby boomers aged between 45 and 59 years old, a survey has found.

Young people aged from 18 to 29, on the other hand, are the unhappiest.

These were some of the key findings from the survey of 200 citizens and permanent residents conducted by a marketing communications agency, Grey Singapore.

The respondents were aged from 18 to over 60, and were representative of the local population in terms of age, gender and race. Almost 90 per cent were Singaporeans.

In June, they were surveyed on their level of contentment across a range of issues such as confidence in the economy and job satisfaction.

On the whole, some 52 per cent of respondents indicated they were happy.

About 27 per cent were neutral about their state of satisfaction, and 22 per cent reported they were unhappy.

The most satisfied group was the post-war baby boomer generation. They were happiest with where they lived, their closeness with family members, and their spirituality.

The least happy group were those between 18 and 29 years old.

The survey found they were the most disgruntled with their savings and expenditure in the past six months, and with their job satisfaction.

Lack of savings seemed to be a key concern among Singaporeans, with 46.5 per cent expressing concern about this.

The following findings were also reported:


•Singaporeans are happiest about the area they live in, their relationship with their family, and their spirituality.


•The top reason for unhappiness among 30- to 44-year-olds is their work-life balance, with more than 18 per cent indicating they were very unhappy with this.


•Men are happier than women at work. Of the respondents, 24 per cent of working women reported unhappiness with their work-life balance, as opposed to 18 per cent of male workers.

The issue of happiness and how to measure it was brought up in Parliament last week, with MPs locking horns over claims that Singapore is too focused on economic progress, at the expense of citizens' happiness.

Opposition MP Sylvia Lim observed that headline figures on gross domestic product (GDP) growth mask the 'harsh realities' of certain groups of Singaporeans - such as the bottom fifth of households by income, or families hit by divorce.

MP Cedric Foo then questioned Ms Lim's choice of Bhutan as a model for Singapore to follow, pointing out that the landlocked Himalayan nation of 700,000 people has a per capita GDP of about US$2,000 (S$2,500), compared to Singapore's more than US$43,000.

When contacted and asked if Singapore should launch its own gross happiness index, Mr Foo said happiness is too 'elusive and subjective'.

Rather, the Government should look beyond median income and work on improving the quality of life in other areas such as communal harmony and health, he said.

Meanwhile, some Singaporeans are not surprised by the survey results.

Said Mr Alwin Zheng, 30, a self-employed consultant: 'It is not really shocking that the baby boomers are most satisfied while those in the younger age group are less happy.

'The baby boomers have established themselves and are in a more secure place, while young adults now have to be concerned with their future in the face of a possible economic downturn.'

The survey - the first of its kind carried out by Grey Singapore - will be conducted annually, and will be launched in other countries across Asia.

siwan@sph.com.sg