Over 70 percent of people aged between 25 and 30 failed to amass NT$1 million (US$34,483) in net assets by the time they were 30 years old.Taipei (ANTARA News/CNA) - Less than 30 percent of Taiwan`s young men and women were able to save their first pot of gold, a figurative name for their first NT$1 million, before turning 30, according to the results of a poll released Tuesday.
Over 70 percent of people aged between 25 and 30 failed to amass NT$1 million (US$34,483) in net assets by the time they were 30 years old.
The poll was jointly conducted by Cathay United Bank and Uni-Survey Link May 7-13. For most respondents, it took five additional years to reach the coveted million; 77.4 percent of respondents earned their first pot of gold before they turned 35.
Out of those who did save NT$1 million, 56 percent said they amassed their savings by investing in funds and securities. A majority of the rest accumulated their assets by saving their salaries, the survey found.
On average, the respondents currently hold net assets worth NT$1.12 million, but 69.1 percent of them do not have net assets exceeding NT$1 million. Some 5.1 percent of them are in debt, according to the survey.
Although 56.6 percent of the respondents earned only about NT$600,000 a year, with their monthly salaries totaling less than NT$40,000, over 40 percent of this group regularly put away NT$10,000 each month for investment.
Funds, stocks and time deposits were the top three investment tools they used.
A total of 1,068 valid samples were collected in the poll, which had a confidence level of 95 percent and a margin of error of plus or minus 3 percentage points. (A045/H-AK/H-AK) (*)
Editor: Ella Syafputri
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