Taiwanese between the ages of 28 and 33 said difficulty saving money is the most worrisome thing they face, with 20.6 percent saying they are concerned about their jobs, according to an online poll published yesterday.
About 69.1 percent of those polled considered having savings of NT$1 million before they reach the age of 30 as their top priority, but only 17 percent said they had completed that goal, the survey by the Chinese-language Smart monthly said.
"The survey shows a large percentage of people born in the early 1970s are uneasy about their financial situation," said Tiffany Lin (
The poll was conducted online from Aug. 10 to Aug. 21 and obtained 1,780 effective responses.
Roughly 29.1 percent of the male respondents interviewed said their top concern was their financial status, followed by 12.6 percent who were worried about jobs and 4.7 percent who were concerned about their pension.
As for female respondents, 27 percent listed their financial status as their top concern, followed by 8.0 percent who listed jobs and 4.8 percent who were worried about pensions.
Presented with five goals -- getting married, having children, owning real estate, possessing a vehicle and having NT$1 million in savings -- 40 percent of interviewees said they have achieved none of them, the survey showed.
The setback can be mainly attributed to immature personal finance habits, Lin said.
For instance, based on a 5 percent annual return, a college graduate who began to save NT$8,000 every month since the age of 22 is expected to be able to save NT$1 million when he or she turns 30, according to Lin.
"In order to maintain a pleasant financial status, it is recommended that people have a long-term plan," Lin said.
One human-resource executive reminded people to be cautious with credit cards.
"Compared with the low interest rates for savings accounts, the 20 percent annual rate for credit cards is high," said Alvin Liu (
Another job-market expert said capability, not money, is what people should look at.
"For people between 28 and 32, their first priority should be to enhance their professional knowledge and work experience," said Rocky Yang (楊基寬), general manager of the 104 Job Bank Corp (104人力銀行).
The most serious problem for people at that age is they don't know what to commit to, Yang said.
It is understandable that people change jobs or go to new industries between the ages of 20 and 30 since they need time to figure out their personal interests, he said.
Liu agreed, saying time is more valuable than money for people aged 30.
"They may encounter some difficulties when entering a new industry after middle age," Liu said.
Compared with people who have stayed in the same industry since their 20s, latecomers are less competitive, he said.
In addition, with the number of people possessing bachelor's degrees increasing, education is not an essential indicator for company recruitment anymore.
"Young people are advised to invest more in themselves to, for example, receive professional certificates or licenses," Liu said.
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