Daven Tamayo

Financial independence is the new inheritance

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<div style="line-height:1"><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/17859170378571000091263.png" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner">Real care means showing up for the people who matter, just like how Manulife does for Anne Curtis, Erwan Heussaff, and daughter Dahlia. <em> Photo source: Manulife </em><a href="https://www.facebook.com/ManulifePH" rel="noopener noreferrer" target="_blank"><em>Facebook page</em></a></span></span></span></div><p style="line-height:1">As more Filipinos in their 30s and early 40s navigate the demands of adulthood, retirement planning is no longer viewed as a distant goal. Many are balancing the responsibilities of building their own future while supporting aging parents, making financial independence an increasingly important priority.</p><div style="line-height:1"> </div><p style="line-height:1">Daily expenses, major life milestones such as buying a home or a vehicle, and economic uncertainty are prompting this generation to take a proactive approach to long-term financial planning.</p><div style="line-height:1"> </div><p style="line-height:1">Manulife&#x27;s Asia Care Survey 2026 (ACS), titled <a href="https://www.manulife.com/ph/whats-new/manulife-studies/independence-as-the-new-legacy?cid=PH-EN_MP_IS_PWS_PRESSRELEASE_2026-AsiaCareSurvey_TL_GEN_-_ACS2026-PressRelease_-_SV_EGCTR_-_-&amp;utm_source=PRESSRELEASE&amp;utm_medium=PWS&amp;utm_campaign=-_2026-AsiaCareSurvey&amp;utm_content=SV_-&amp;utm_term=MP_IS_PH-EN_TL_GEN_-_ACS2026-PressRelease_-_EGCTR" rel="noopener noreferrer" target="_blank">&#x27;Independence as the New Legacy&#x27;</a> revealed that Filipinos are changing the way they view legacy as they live longer lives.</p><div style="line-height:1"><span class="fr-img-caption fr-fic fr-dib" style="width:633px;display:block" width="633"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1785835492008ACS 2026 (Hero artcard) - FINAL (1).jpg" style="width:633px" class="fr-fic fr-dib" width="633"/><span class="fr-inner">Is independence within reach for Filipinos? <em>Photo source: Manulife Philippines </em></span></span></span></div><p style="line-height:1">Nine out of 10 Filipinos said their longevity goal is to achieve independence and self-reliance for as long as possible. For many, that means having enough savings and investments to maintain their lifestyle, cover healthcare expenses, and enjoy retirement comfortably without depending on their children.</p><div style="line-height:1"> </div><p style="line-height:1">Rather than focusing solely on passing down physical assets such as property, today&#x27;s adults place value on staying healthy, financially secure, and independent throughout their lives.</p><div style="line-height:1"><span class="fr-img-caption fr-fic fr-dib" style="width:633px;display:block" width="633"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1785835821664ACS 2026 (2) (1).jpg" style="width:633px" class="fr-fic fr-dib" width="633"/><span class="fr-inner">Independence starts long before old age. <em>Photo source: Manulife Philippines </em></span></span></span> The survey also found that 88% of Filipinos agree that their financial independence is the new legacy they want to leave their families. Among respondents aged 25 to 34, that figure rises to an almost unanimous 95%.</div><div style="line-height:1"> </div><p style="line-height:1">When imagining retirement, many Filipinos want a future defined by freedom, choice, and independence. For 61% of respondents, the top priority is avoiding financial or emotional dependence on their children, while 56% want to make decisions without family pressure and 54% want to access quality healthcare using their own resources. This desire for autonomy is also reflected in how they would allocate their assets, with respondents preferring to use 60% to fund their own independence and leave 40% as inheritance.</p><div style="line-height:1"><span class="fr-img-caption fr-fic fr-dib" style="width:633px;display:block" width="633"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1785836288924ACS 2026 (3) (1).jpg" style="width:633px;display:block;height:auto" class="fr-fic fr-dib" width="633"/><span class="fr-inner">For some, caregiving responsibilities pose a challenge to attaining independence. <em>Photo source: Manulife Philippines </em></span></span></span></div><div style="line-height:1"><strong>Independence comes at a cost </strong></div><div style="line-height:1"> </div><p style="line-height:1">Retirement planning is also evolving beyond traditional bank savings. More Filipinos are taking a proactive approach to funding their future, combining personal savings with investments and insurance to build long-term financial independence. Careful planning, disciplined saving and long-term investing remain essential to achieving financial independence.</p><div style="line-height:1"> </div><p style="line-height:1">Future healthcare costs continue to be a major concern, with 82% of respondents worried about whether they can afford the care they may eventually need. Filipinos estimate they will require P34,485 each month to cover future care and daily living expenses. Respondents aged 18-24 expect to need even more, estimating P43,437 per month. Over the course of retirement, those monthly expenses may easily amount to millions of pesos.</p><div style="line-height:1"> </div><p style="line-height:1">The traditional belief that children would serve as their parents&#x27; retirement plan is also changing, with only 21% of Filipinos expect to rely on their children financially. Among respondents who do not want to rely on their children for financial support, 68% want to remain self-sufficient and 65% want their children to achieve financial stability. </p><div style="line-height:1"> </div><div style="line-height:1"><strong>Turning retirement goals into reality</strong></div><div style="line-height:1"> </div><p style="line-height:1">Setting aside money for retirement while managing everyday expenses may be challenging. Closing the gap between living together and being financially prepared starts with taking practical steps today. Building healthy financial habits, growing savings through long-term investments, planning for future healthcare costs, and having open conversations with family may help turn financial independence into a lasting legacy.</p><div style="line-height:1"> <span class="fr-img-caption fr-fic fr-dib" style="width:633px;display:block" width="633"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1785836470385ACS 2026 (4) (1).jpg" style="width:633px" class="fr-fic fr-dib" width="633"/><span class="fr-inner">Independence has a price tag and Filipinos need to start saving enough for it. <em>Photo source: Manulife Philippines </em></span></span></span></div><p style="line-height:1">As Filipinos live longer, the challenge is not only about adding years to life, but ensuring those years are lived with health, dignity, and financial confidence. Manulife Philippines is helping people prepare not only for longer lives, but to have good ones, through health and life protection, investment, and retirement solutions that will help support wealth building and address future care needs. </p><div style="line-height:1"> </div><p style="line-height:1">&quot;Today&#x27;s generation is redefining what it means to leave a legacy. Rather than relying on their children in the future, Filipino millennials are taking steps now to become financially independent and prepare for longer lives,&quot; said Grace Mallabo, Chief Health and Products Officer, Manulife Philippines. &quot;That means protecting their health, planning for future care needs, and building the confidence to make their own choices in later life. By preparing earlier, they are giving their families something more lasting than inheritance: the freedom to thrive on their own terms.&quot;</p><div style="line-height:1"> </div><p style="line-height:1">Conversations about aging and finances may be uncomfortable, but preparing for independence today may be one of the most meaningful gifts anyone gives their family. In a time when longer lives bring both opportunity and responsibility, financial independence is becoming more than a personal goal. It is the new inheritance.</p><div style="line-height:1"> </div><p style="line-height:1">To learn more about Manulife Philippines and explore health and life protection as well as retirement planning solutions, visit the company&#x27;s <a href="https://www.facebook.com/ManulifePH" rel="noopener noreferrer" target="_blank">Facebook page</a>, its <a href="https://www.manulife.com/ph?cid=PH-EN_MP_IS_PWS_PRESSRELEASE_2026-AsiaCareSurvey_TL_GEN_-_ManulifePhilippinesHomepage_-_SV_EGCTR_-_-&amp;utm_source=PRESSRELEASE&amp;utm_medium=PWS&amp;utm_campaign=-_2026-AsiaCareSurvey&amp;utm_content=SV_-&amp;utm_term=MP_IS_PH-EN_TL_GEN_-_ManulifePhilippinesHomepage_-_EGCTR" rel="noopener noreferrer" target="_blank">website</a> or speak with a Manulife financial advisor.</p><div style="line-height:1"><br/></div>

<p><i>As Filipinos in their 30s and 40s begin thinking beyond their next milestone, financial independence is becoming just as important as enjoying the present.</i></p>

As Filipinos in their 30s and 40s begin thinking beyond their next milestone, financial independence is becoming just as important as enjoying the present.

Financial independence is the new inheritance

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Financial independence is the new inheritance

Manulife

Published August 05, 2026 02:53 PM PHT

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Updated August 05, 2026 07:35 PM PHT

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