Singapore ranks fourth globally for love of money, thanks to Gen Y: State Street

SINGAPORE (Sept 12): Singapore’s Generation (Gen) Y investors love their money more than anybody else in the nation – and it’s these people who are the most likely to end up getting hurt.

According to the latest research findings from State Street’s Center for Applied Research, it doesn’t pay to get caught up too much in the idea of ‘making a buck’ because the more investors love money, the more they have to lose.

The study was conducted by State Street’s Centre for Applied Research using the Money Ethic Scale developed in 1992. Over 3,000 retail investors across 20 countries, 180 being from Singapore and 1,090 from Asia Pacific (APAC), were surveyed with a set of questions to find out how important money was to their self-esteem.

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