Hong Kong citizens not ready financially for retirement

Pedro Gonçalves
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Hong Kong citizens not ready financially for retirement

Hong Kong citizens are financially underprepared for the challenges of retirement or the event of sudden death according to a survey by Citi about living the world's most expensive city. For a single person working in Hong Kong, the shortfall between their income and what they bequeath to their parents can be as high as HK$2mn, while the gap is narrower for retirees at HK$1.05m, according to Citibank's December survey of 1,224 affluent residents, defined as those with between HK$300,000 an...