Asians Prioritize Living Well and Financial Freedom in Retirement Amid Longer Lifespans

2025 Manulife Report Reveals Quality of Life and Financial Independence Drive Retirement Planning Across Asia

As lifespans extend across Asia, people are increasingly focused on living well, not just living longer. The 2025 Financial Resilience and Longevity Report for Asia, published by Manulife Wealth & Asset Management (Manulife WAM), shows that Asians are redefining retirement, prioritizing purpose, independence, and financial stability over simply adding years to life.

The report, covering Hong Kong, Malaysia, Indonesia, and the Philippines, highlights the growing awareness that longer lives require more than savings—they require planning for quality living. This focus is reinforced by initiatives like Manulife’s Longevity Institute, a global platform supporting healthier, financially secure, and independent aging.

Rethinking Retirement in Asia

Calvin Chiu, Head of Asia Retirement at Manulife and CEO of Manulife Investment Management Hong Kong, explained, “Longevity is reshaping retirement. People are asking how they can live better, not just longer. Financial independence, health, and well-being now define success in retirement.”

The report shows that most Asians prioritize quality of life over longevity. Less than one in ten want to live longer at any cost. Half of respondents want a meaningful life, and over one-third hope to avoid being a burden on others. Financial independence, staying active both physically and mentally, and maintaining their standard of living are top retirement goals.

Health and financial stability are closely linked. Across all four markets, three-quarters of respondents said financial wellbeing affects their physical and mental health, while 85% said it impacts their mental state during retirement.

“People want to enjoy longer lives with dignity and freedom,” added Chiu. “Achieving this requires moving from simply saving for retirement to planning for longevity.”

The Financial Readiness Gap

Despite recognizing the importance of planning, less than half of Asians feel confident they have enough to retire comfortably. Confidence ranges from 48% in Hong Kong to 77% in Indonesia, with mid-career individuals (ages 45–54) being the least optimistic.

Cash dominates the average portfolio, making up roughly half of non-property investments, as many are cautious about risk. Fear of capital loss and limited investment knowledge are key reasons for avoiding higher-yield assets. Property, historically central to retirement planning, is declining in importance, with only 30% of respondents prioritizing it as highly as before.

“Relying heavily on cash or property can leave people exposed to inflation and income gaps,” said Chiu. “Financial resilience comes from diversifying across income-generating and inflation-protected assets and starting early.”

The Value of Professional Advice

The report underscores the power of financial guidance. Respondents working with planners are far more confident about retirement. In Indonesia, 89% with a financial planner feel prepared, compared to 63% without one. In Hong Kong, 62% with guidance feel ready versus just 29% without. Insurance agents, financial planners, and bank relationship managers remain the top sources of advice.

“Professional advice helps people move from simply saving to actively investing, giving them greater control over their retirement lifestyle,” Chiu said.

Regional and Generational Insights

Financial confidence varies across markets. Hong Kong shows cautious optimism, with 48% confident but 65% planning to shift some cash into higher-return investments. Malaysia reports moderate confidence at 58%, with strong interest in pension solutions offering steady income. Indonesia emerges as the most confident market at 77%, with a growing openness to income-generating investments over property. The Philippines shows a transitional mindset: 52% feel financially ready, while 73% now prefer income-generating investments, signaling a shift in retirement priorities.

Across generations, a work-free retirement is the top priority. Younger adults (25–34) and older adults (60+) show the strongest desire to leave work behind, while mid-life adults balance the idea of continued employment with personal freedom.

Planning for Longevity

The report encourages individuals, employers, and financial planners to rethink retirement. Manulife WAM recommends a holistic approach that combines early financial planning, portfolio diversification, and ongoing professional guidance to ensure longer lives are also better lives.

“Longevity should inspire optimism, not worry,” Chiu concluded. “With smart financial habits and expert guidance, longer lives can become better lives, and that’s the vision driving Manulife’s work.”