Manulife: Vietnamese people want financial independence when they get old

Manulife Asia Care 2026 survey announced in Vietnam on August 12. Accordingly, Vietnamese people expect to spend an average of 10 years needing someone else’s care and 13 years needing financial support. For the group over 60 years old, the time needed for financial support increases to 15 years, while the time needed for care is 9 years.

Survey participants estimated living expenses during this period to be about 11.8 million VND per month. Money that lasts for many years can put pressure on both the elderly and their families if not prepared early.

In that context, many people begin to see the ability to take care of themselves as a family value. Survey results show that 89% consider independence and financial autonomy as the “inheritance” they want to leave to their family, while 57% do not want to become a burden to their loved ones. In addition, 86% rated the ability to maintain health and financial independence as more important than the value of assets transferred to the next generation.

This perspective also impacts how Vietnamese people plan to use their assets. Instead of leaving most of their accumulated resources to their children, survey participants plan to use about 2/3 of their assets to maintain their own lives in old age. The goal is to proactively cover essential needs and reduce financial pressure on the family.

Of these, 81% expected to rely on personal savings, while 21% said they could receive support from their children. This gap shows a shift away from the notion that the elderly are mainly dependent on the next generation.

Proactivity has begun to show through some financial decisions. The survey recorded that 51% of participants increased savings, 45% bought health insurance or related insurance products, and 26% participated in open funds. These choices show that Vietnamese people are diversifying their financial resources to prepare for retirement, instead of relying on just one financial source.

However, the gap between goals and actions is still significant. 53% want to achieve financial independence when they get older, 48% need a stable source of income to cover living expenses and 46% are interested in flexibility and liquidity of investments. However, only 27% have switched to investment forms capable of generating cash flow.

According to Manulife’s analysis team, this result shows that many people have identified their needs but have not built a corresponding long-term revenue source. A long-term retirement plan requires a balance between protection, accumulation, investment and the ability to access money when needed.

The survey also recorded that 69% of Vietnamese people want to continue working after age 65. This shows a more flexible view on retirement. For many people, this period does not mean completely stopping work, but can be a time to continue participating in economic activities with appropriate intensity, both maintaining income and keeping social connections.

Besides finances, health is an important condition for each person to maintain the ability to take care of themselves. 91% of participants believe that early screening helps reduce the risk of chronic disease. A similar proportion said that regular check-ups help prolong independent living.

However, this awareness has not yet completely turned into a habit. Only about 40% maintain regular exercise and 31% perform regular health screenings. The gap between understanding and action can affect quality of life and increase the cost of care in later years.

Family discussions about old age planning have not received adequate attention. According to the survey, although 81% believe that talking early and openly can improve the quality of life in retirement, many people are still hesitant to broach issues such as illness, care needs or financial responsibilities.

These conversations help members understand each other’s desires, identify available resources, and divide responsibilities appropriately. In case of need, professional financial and insurance advice can assist families in assessing needs, choosing solutions and building long-term plans.

Ms. Tina Nguyen, General Director of Manulife Vietnam, said the survey results show a change in the way Vietnamese people perceive old age. This is no longer considered simply a dependent phase but a journey that requires proactive preparation.

“Many people view financial and health independence as a ‘fortune’ for their family. This creates an increasingly clear need for solutions that help customers proactively control their future and reduce pressure on their loved ones,” said Ms. Tina Nguyen.

The Asia Care 2026 survey is part of a research group on longevity that Manulife implements through the Manulife Longevity Institute. This platform focuses on research, knowledge sharing, innovation and community initiatives to help people prolong their healthy lives while enhancing their ability to be financially proactive.