Fresh out of NTU... and drawing 5-figure salaries

[piggo]

Note that it is gross income, which means everything including bonuses are factored in. If 60% of the population earns <$3000, after CPF it's $2400. Throw in children's education, food, housing, transport. It's barely enough... and that's based on assumption of $3000. How can that be considered rich?

[Musicwhiz]

Gross Percentile
Monthly of
Income Cohort
$3000 top 41.4%
$4000 top 28.6%
$5000 top 20.8%
$8000 top 9.3%
$10000 top 6.2%

Provided the website is wrong, it doesn't seem to me that Singaporeans are rich based on the website. I believe a lot of them spend beyond their means. They are not financial savy or plan for their retirement.

Wow, I am really quite surprised by these findings, and of course assuming the website is reporting the statistics correctly of course. So about 70% of people earn $4,000 or less gross income? That does not seem to gel with what I see on the roads daily - people driving Continental Cars, BMWs and SUVs and carrying branded goods and gadgets!

I usually perceive Singaporeans as being very rich as I have heard stories of many friends who "flip" property, while others have multiple properties earning rental income as well. So perhaps the study is confined to just earned gross income, and does not include other income like rental or dividends? Perhaps if you factor those in, then the numbers will be much higher?

[arthur]

Wow, I am really quite surprised by these findings, and of course assuming the website is reporting the statistics correctly of course. So about 70% of people earn $4,000 or less gross income? That does not seem to gel with what I see on the roads daily - people driving Continental Cars, BMWs and SUVs and carrying branded goods and gadgets!

I usually perceive Singaporeans as being very rich as I have heard stories of many friends who "flip" property, while others have multiple properties earning rental income as well. So perhaps the study is confined to just earned gross income, and does not include other income like rental or dividends? Perhaps if you factor those in, then the numbers will be much higher?

Maybe only poor buggers like us dwell in this kinda investment forums while rich ppl are those flipping properties n such. No pun intended to koh san!

[Musicwhiz]

Maybe only poor buggers like us dwell in this kinda investment forums while rich ppl are those flipping properties n such. No pun intended to koh san!

Wah Arthur, you just voiced my greatest fear! Aiyoh!

[piggo]

Definitely! Rich people hire other people to manage their funds only poor buggers need to micro manage...