The latest HSBC Affluent Report reveals that Hong Kong millionaires typically ascend to ten-millionaire status before the age of 39, taking an average of just about 8 years to grow their assets from HK$1 million to HK$10 million. Notably, among the respondents, 1 in 13 holds at least HK$10 million in liquid assets, underscoring the significant wealth strength of Hong Kong's high-net-worth clientele.
Conducted online in November last year, the report found that nearly 70% of respondents primarily accumulate wealth through investments, profits from self-operated businesses, interest income, and rental income. Compared to millionaires, ten-millionaires generally demonstrate more sophisticated financial habits, including the use of financing to enhance investment returns. They typically allocate a larger proportion of their wealth to investments with higher return potential, such as stocks and investment funds, while also emphasizing protective products. Additionally, ten millionaires show a greater inclination towards investing in alternative assets compared to general investors. In terms of wealth management, over 90% of respondents prioritize intergenerational planning, focusing on transferring wealth to future generations.
Furthermore, it is noteworthy that the threshold for liquid assets for the middle class has significantly risen to HK$8.35 million. With the recovery of the stock market, respondents' reliance on property rental income has decreased, and the "cash is king" mindset has gradually waned. Regarding retirement planning, nearly 70% of respondents prefer a flexible retirement model. To achieve their ideal retirement lifestyle, respondents aim for an average monthly passive income of HK$48,580.
The report surveyed 2,018 Hong Kong residents aged 25 to 64 online in November last year. Among them, 1,018 respondents had total personal liquid assets of HK$1 million or more, while 301 respondents had total personal liquid assets of HK$10 million or more.
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