Singaporeans equate net-worth with self-worth: AIA study reveals harmful financial stereotypes hold back wellbeing

SINGAPORE, May 25, 2026 /PRNewswire/ — Stereotypes about financial success are shaping identity and perceptions of masculinity in Singapore, according to the AIA Rethink Healthy Asia Report. While Singaporeans report lower personal agreement with many traditional stereotypes compared to the rest of Asia, they experience some of the highest impact on their wellbeing, with 98% of respondents in Singapore noting that stereotypes negatively impact them socially. These findings suggest that even when individuals no longer personally believe stereotypes, they still feel constrained by the fear of social judgement.

Interestingly, Singapore is the only market where financial status is explicitly tied to personal identity and masculinity as the leading stereotypes, creating a unique “identity strain” compared to peers across the region, where there is a distinctive tension between personal beliefs and perceived social expectations. Many in Singapore continue to feel pressured by the expectation of equating personal worth with wealth, agreeing that “wealth determines a person’s worth” and “a man’s worth depends on his financial success.”

“When financial success becomes a measure of personal worth, people can become overly focused on finances at the expense of other important areas of life. What begins as economic or environmental pressure can quickly turn into emotional pressure – shaping how people see themselves, their relationships, their place in society, and their overall wellbeing,” says Irma Hadikusuma, Chief Marketing & Healthcare Officer, AIA Singapore.

The Cost of Silence – Impact of Stereotypes on Singaporeans’ Behaviour

Compared to other Asian markets, where stereotypes around physical health ideals (Malaysia), the effort and cost of maintaining health (Thailand), and family duty expectations (Mainland China) are more impactful, Singapore stands out as being distinctly impacted by financial stereotypes.

Singaporeans personally reject stereotypes at a higher rate than the regional average — with only 24% agreeing on stereotypes such as “men must not show vulnerability” compared to the 37.5% average across Asia. However, the reported impact on wellbeing is the highest in the region which suggests that stereotypes continue to shape behaviour even when people consciously reject them.

This disconnect leads to “social self-censorship,” where individuals avoid discussing struggles for fear of looking weak or unsuccessful. Key findings include:

71.1% of Singaporeans are less likely to discuss issues with others.
60.3% hide their struggles from others.
64.8% engage in health-damaging behaviours as a result of stereotype pressure.
63.3% doubt the guidance of experts, contributing to a higher level of system disengagement.

Shifting Perceptions of Physical Health

Encouragingly, Singapore shows a significant shift away from rigid physical health stereotypes, with lower agreement than the regional average on beliefs such as “only intense workouts are effective” (19.4%) compared to 31% across Asia, and “eating clean equals healthy” (41.8% vs 52.9% in Asia). This shift supports the core of AIA’s regional ‘Rethink Healthy’ campaign which seeks to challenge stereotypes and narrow depictions of health in Asia, calling for new definitions of health that will encourage more people to live healthier.

These perceptions also reinforce the relevance of AIA Singapore’s ongoing initiatives, such as the ongoing partnership with HYROX Singapore and the launch of the AIA Ultimate FitnessFest. These events aim to reshape the local perception of fitness by making it more inclusive and decoupling it from “all-or-nothing” intensity.

“The findings highlight the need to redefine wellbeing beyond achievement, wealth and outward success. By surfacing these underlying beliefs about wellness, AIA aims to empower people to challenge health stereotypes and encourage a broader and more inclusive understanding of wellbeing that inspires more people to live Healthier, Longer, Better Lives,” added Irma.

These results were from AIA Group’s Rethink Healthy Asia Report, which revealed that deeply entrenched physical, mental and financial health stereotypes shape attitudes and behaviours around wellbeing across Asia.

The study set out to investigate how stereotypes around wellbeing are formed, reinforced and normalised in everyday life. Conducted across Mainland China, Hong Kong SAR, Singapore, Thailand and Malaysia, it analysed more than 100 million pieces of online content alongside a survey of 2,100 respondents to identify the dominant stereotypes shaping health today and how they influence emotions and behaviours. 

The full AIA Rethink Healthy Asia Report is available here.

[1] Hong Kong SAR refers to the Hong Kong Special Administrative Region.

[2] Macau SAR refers to the Macau Special Administrative Region.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[1], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[2], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$345 billion as of 31 December 2025.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 44 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.

Singaporeans equate net-worth with self-worth: AIA study reveals harmful financial stereotypes hold back wellbeing

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