A recent survey found that young, affluent families aim to save HK$18 million to achieve various life goals, but many of the respondents lack a comprehensive financial plan.

The survey, conducted by Hang Seng Bank (0011), interviewed more than 500 Hong Kong residents aged 30 to 55 with liquid assets of at least HK$1 million from December 2024 to last month.

One-third of the respondents indicated that they have financial strategies in place, tailored to their family's needs. However, more than 50 percent expressed a lack of confidence in their ability to execute these strategies effectively.

Notably, among respondents without a cohesive financial plan, 71 percent were young, affluent families with children aged 12 or younger.