Ho Chi Minh City (VNA) – Longer life expectancy and the trend of prioritising financial independence and health among the elderly are creating new demand and opening up opportunities for Vietnam’s “silver economy”.
The Manulife Asia Care 2026 survey of more than 1,000 Vietnamese respondents found that on average, people expect to need 10 years of care and 13 years of financial support in old age. Among those aged over 60, the period requiring financial support rises to 15 years, while the period requiring care is nine years.
Living costs during this period are also a concern, averaging around 11.8 million VND (447 USD) a month, respondents estimated, adding significant pressure on individuals and families.
Against this backdrop, self-reliance is increasingly seen as a new form of “asset”. As many as 89% of respondents said their financial independence and self-reliance are the “asset” they want to leave to their families, while 57% do not want to become a burden on their relatives.
This mindset is also influencing household asset allocation. Instead of prioritising wealth accumulation for their children, respondents said they expect to spend about two-thirds of their assets on their own needs in later life.
Financial sources also indicate a trend towards less reliance on the next generation. Some 81% said they plan to rely on personal savings to cover expenses in old age, while only 21% expect financial support from their children. As many as 86% said maintaining financial independence and health is more important than the value of assets left to the next generation.
These changes suggest that retirement is increasingly viewed not simply as a period of “stopping work”, but as a stage of life that needs to be proactively planned in terms of finance, health and participation in economic activities. To achieve an independent and retirement, many Vietnamese are focusing on two key pillars: financial security and health.
In financial planning, a more proactive approach is becoming increasingly evident. To ensure future stability, many people are diversifying their financial resources through various channels. Some 51% are increasing their savings, 45% are purchasing health and other insurance products, and 26% are investing in open-ended funds.
Although demand for investment is clear, only 27% have shifted towards investments capable of generating regular income. The gap suggests that existing demand has yet to translate into corresponding action, particularly in building income streams for later life.
Notably, 69% of respondents said they would like to continue working after 65, reflecting a new, more active and proactive concept of retirement. This points to a desire to maintain an active lifestyle and continue participating in economic activities in later life.
Tina Nguyen, General Director of Manulife Vietnam, said Vietnamese people are changing their perception of old age from a period of dependence to a journey that requires proactive preparation. Financial independence and health is increasingly regarded as a meaningful “asset” for families.
From an economic perspective, the shift is significant as it could reshape demand in the coming years. As people live longer and seek to remain independent for longer, demand will grow not only for savings, insurance and investment products, but also for healthcare, lifestyle support services and forms of consumption tailored to life after working age./.
VNA
