Survey: Nearly 70% of Hong Kong residents lack confidence in their ideal retirement, with inadequate planning as the main reason. Relying solely on AI is insufficient to boost confidence.

Endowus has released the "Endowus Wealth Insight Report 2026," which reveals that the retirement issue facing Hong Kong residents is insufficient planning rather than a lack of information. 68% of the respondents lack confidence in their ability to achieve their ideal retirement, or fall into the "hesitant middle ground, despite 63% having made investments for retirement beyond Trillions of MPF (Mandatory Provident Fund). The survey interviewed 500 Hong Kong residents to understand their attitudes towards retirement planning, AI tools, and financial advice, as well as how to build confidence in achieving long-term retirement goals. Nearly 80% of Hong Kong residents believe a stable retirement is important, but only 32% are confident in reaching their ideal goals. The survey indicated that 79% of respondents in Hong Kong consider a stable retirement to be very or extremely important. However, only 32% have confidence that they are making progress towards their goals, while the remaining 68% can be divided into two groups: 40% are in the "hesitant middle ground," lacking both confidence and doubt, and 28% lack confidence altogether. The proportion of those confident in making strides towards their ideal retirement declines with age. Confidence is highest among the 25 to 34 age group at 39%, but falls gradually with age, with only 28% of those aged 55 or older feeling confident. This trend reveals a harsh reality in Hong Kong society: the closer one gets to retirement age, the more unprepared they feel. 60% Question the Sufficiency of MPF for Supporting Retirement Life MPF is generally viewed as a foundation for retirement security rather than a comprehensive retirement plan. 60% of respondents doubt whether MPF alone can fully sustain their retirement life, with only 12% believing it is sufficient. Despite 63% of respondents having made investments outside of mandatory contributions for retirement, this anxiety persists. For respondents who currently do not invest outside of MPF, the main obstacles include fear of losses (28%), lack of time to research or manage investments (28%), insufficient financial knowledge (24%), and not having enough disposable income (22%). The distribution of responses shows that the gap in confidence is not due to a single obstacle but rather a combination of ability, caution, and a lack of systematic financial guidance. One-Third Use AI Tools for Financial Management, Mainly for Information Processing In Hong Kong, AI has become an essential part of financial decision-making. The survey reveals that nearly one-third of respondents (32%) use AI tools to assist in making financial decisions; among young adults aged 25 to 34, this figure rises to 45%. The survey points out that despite the increasing use of AI, it is currently mainly utilized for information processing rather than for making personal investment decisions that influence retirement security. Among AI users (n=161), 60% use AI to obtain market news, 55% for product comparison, and 43% for learning financial knowledge, while only 22% use it for retirement planning. Trust in AI shows a similar trend. Among AI users, 51% have "very" or "completely" trust in AI for learning knowledge, and 50% trust AI for product comparisons; however, the proportion seeking personalized advice drops to 34%, with just 31% for retirement planning. Moreover, the survey highlights that having more information does not necessarily enhance confidence. Respondents averaged 2.2 sources of information when making financial decisions; those brimming with confidence averaged 2.6 sources, while the "hesitant middle ground" and those lacking confidence referred to 2.1 sources each. This difference suggests that merely acquiring information cannot eliminate uncertainty regarding retirement planning. A Clear Plan Can Boost Confidence in Realizing an Ideal Retirement Life Differences in planning behavior among respondents are even more pronounced. Among those who have a clear plan and actively execute it, 61% have confidence they are steadily moving towards their retirement goals; conversely, only 12% of those who have never started planning share the same confidence. Simultaneous Use of AI and Human Financial Advisors Can Increase Retirement Planning Confidence Investors who use both AI and human financial advisors exhibit the highest confidence in retirement planning. Respondents employing a hybrid model display the highest confidence level at 46%; those relying solely on human financial advisors have a confidence level of 36%, and those using only AI stand at 31%. In contrast, individuals who do not use either have only 17% confidence. In other words, hybrid model users have nearly three times the confidence compared to those planning on their own. When asked what could most enhance their confidence, respondents expressed a strong desire for clear direction: knowing how much savings they need (38%), retirement projection forecasts (31%), lower fees (31%), and having "a one-stop integration of all financial situations" (30%). Additionally, 28% wish to have someone to discuss retirement planning with, reflecting that professional ongoing support and follow-up are more crucial than merely providing information. Li Zhen, Chairman and Chief Investment Officer of Endowus, stated that investors need more than just noise; they require a set of easy-to-understand and achievable personalized advice, along with appropriate retirement planning, enabling them to navigate market fluctuations and life's ups and downs. The real difference lies in whether investors merely gather more information or are genuinely prepared for retirement. The growing gap in retirement confidence is not due to a lack of motivation but rather a lack of clear direction.