America vs. Singapore: You can't save your way out of economic shocks
governance.fyi
February 19, 2026
15 min read
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62/100
Summary
Saving regret is influenced more by a country's ability to absorb economic shocks than by individual procrastination. Research shows a weak or nonexistent relationship between procrastination and saving regret across various psychometric measures in both America and Singapore.
Key Takeaways
- Procrastination does not significantly predict saving regret; the relationship is weak or nonexistent across various psychometric measures.
- Economic shocks, such as unemployment and health expenses, are the dominant predictors of individuals wishing they had saved more.
- In the U.S., 69% of respondents reported experiencing at least one negative financial shock, compared to 46% in Singapore.
- Among Americans who experienced negative financial shocks, 61% expressed saving regret, whereas only 42% of those who did not experience shocks reported the same.
Community Sentiment
Positives
- Singapore's government has effectively created a sense of community and safety, fostering an environment where startups can thrive and contribute to economic stability.
- The achievements of Singapore since WWII are commendable, showcasing the potential of well-structured governance and community support.
Concerns
- The CPF system in Singapore is criticized for being a forced bond purchase scheme that offers low returns, potentially limiting financial freedom for citizens.
- The regressive shock absorber model in Singapore disproportionately affects immigrants, who often face severe economic hardships without adequate support during downturns.