Asian seniors shift wealth priorities toward self-funded care over bequests

A projected $10 trillion transfer across Asian families over the next decade is being reshaped by longer lifespans, with adults increasingly valuing autonomy and health over leaving maximum inheritances. According to a Manulife survey of 9,000 adults in nine Asian markets, 83% say securing their own financial freedom outweighs maximizing what they pass to heirs, and they plan to allocate about 68% of assets to their own aging costs. This trend reflects a broader regional shift as the share of Asians over 60 rises from 15% today to a projected 26% by 2050, reducing reliance on children for caregiving.

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The Manulife survey of 9,000 adults across nine Asian markets found notable variation in how families allocate assets. Taiwanese respondents plan to devote 78% of their wealth to personal health and care costs, while those in the Philippines and Indonesia expect to spend 60%. Men anticipate funding roughly 14 years of later-life care, women 15 years.

Demographic pressures underpin this shift. Hong Kong leads global life expectancy at 85.5 years, and mainland China has seen life expectancy climb from about 52 in 1963 to 78 today. The