A new survey has revealed that while overall perceptions of financial security in Asia have slightly improved, the reality is more sobering - particularly for GenZ, who emerge as the least financially secure and resilient generation surveyed.
The second edition of Sun Life Asia Financial Resilience Index: Balancing today’s needs and tomorrow’s goals, published in June 2025 offers a detailed look into how individuals across Asia are managing their finances while navigating today’s volatile financial landscape.
The survey found that 69% of Baby Boomers feel financially secure compared to just 57% of GenZ respondents. More than a quarter of Gen Z respondents (28%) do not seek help when making financial decisions and 92% of people are feeling the pressure of inflation and 44% face a significant impact on their ability to cover expenses.
More than half (54%) of respondents still lack a financial plan that extends beyond 12 months, and only 8% are planning more than 10 years ahead. The research study surveyed over 6,000 respondents across Hong Kong, the Philippines, Indonesia, Malaysia, Singapore and Vietnam.
The survey findings highlight the trends in financial planning, literacy, risk appetite, and the role of professional advice in building long-term resilience.
GenZ lags behind other generations in both confidence and preparedness. Only 57% of GenZ respondents feel financially secure, well below 69% of Baby Boomers, the most financially secure generation, and 66% of Millennials.
While time is on their side, their investment approach suggests hesitation rather than ambition, with 59% describing themselves as conservative investors, pointing to a lack of awareness around how to balance risk and long-term reward.
GenZ is also the most isolated in their financial decision-making compared to other generations. More than a quarter (28%) do not seek any advice at all, despite being the generation most in need of structured guidance and support. Notably, GenZ are also most likely to consult AI tools (19%) for financial advice than other age groups (Millennials 18%; Gen X 10%; Baby Boomers 11%).
Sun Life Asia chief client and distribution officer David Broom said, “GenZ has time on their side, but instead of confidence, we’re seeing hesitation and concern as they are coming of age in a world shaped by economic volatility and rising living costs. Strengthening their financial literacy and connecting them with a variety of trusted sources of advice will give them the tools to build a more stable future.”
After several years of high inflation, many people are struggling to manage their daily and long-term expenses. 92% of people are feeling the effects of persistent price increases, and 44% note a significant impact on their ability to cover monthly expenses.