Money Doesn't Buy Happiness: Singapore's Millionaires Pursue a Balanced Work-Life
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In a recent survey conducted by Switzerland's Banque Lombard Odier & Cie SA, a surprising trend has emerged among Singapore's high-net-worth individuals – wealth doesn't always translate to contentment, especially in terms of work-life balance.
The study shed light on a fascinating revelation: only 30% of millionaires in Singapore are genuinely happy with their work-life balance. This finding positions Singaporean millionaires as the least satisfied when compared to their Asia Pacific peers.
Thailand takes the lead in this ranking, with an impressive 72.7% of high-net-worth individuals expressing satisfaction with their work-life balance. Australia closely follows as the second most content group in this regard.
The study highlights a paradox within Singapore's affluent community, underscoring the fact that prosperity doesn't guarantee happiness. So, what's causing this discontent among Singapore's millionaires? Part of the answer might lie in their extended working hours. The survey reveals that 26% of respondents frequently work overtime.
It's worth noting that Singaporeans are renowned for their strong work ethic. In fact, they put in the longest weekly hours in all of Asia Pacific, averaging a remarkable 45 hours of work per week, as per a study conducted by The Instant Group, a flexible workspace company based in London.
However, an intriguing shift is taking place within the younger generation in Singapore. They appear to be challenging the traditional "work is life" mindset and are less inclined to view work as the sole focus of their lives.
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