Fast growth in 'emerging affluent' class in Singapore

[Musicwhiz]

Be sure to think of using them wisely. Singaporeans will find it difficult to appreciate it but should you have an opportunity to live in a bigger country, then you will appreciate the power of money better.

Why would this be so? Care to explain?

[CityFarmer]

THE "emerging affluent" class, or those with $50,000 to $200,000 of investible assets, is one of the fastest-growing segments here and in the Asia Pacific, said Citibank Singapore.

But MW, you're already out of this league!

Hmm... I assume most of buddies here are also out of the league...

Money is a means to an end. Once you pass the survival stage, it will be good to really think how you want to manage and use the money.

If money is a merely a figure then the cold hard cash will remain an useless emotionless number.

Be sure to think of using them wisely. Singaporeans will find it difficult to appreciate it but should you have an opportunity to live in a bigger country, then you will appreciate the power of money better.

Singaporeans appreciate it with their yearly (or half-yearly) oversea vacation(s).

Family of 4 spend tenth of thousand in a oversea vacation is a norm, not once a year, but twice a year for some. No wonder so many big tour shows around...

[egghead]

What to do? When your kids come back from school and tell you their classmates went USA, Europe, Japan, etc during school holidays, the pressure is there. Kids are so fortunate nowadays.

[wsreader]

Is there a term for people between the emerging affluent and millionaire?

[egghead]

Mass affluent?

[corydorus]

Is more due to massive printing .... millionaire today is not as big deal as before GFC.

[Musicwhiz]

I don't really like the term "affluent". Seems to convey a certain social class which may lead to snobbery (and boasting rights).

I prefer to just tell people that I am actively accumulating assets for retirement.

[mobo]

Among all the bank's different classifications of wealth, I found UOB's one that makes the most sense.

<100K = General masses
100-350k = Experienced PMEs who manage to accumulate some money over the years generally living the typical SG middle class lifestyle.
350k-2M = Well off people who can afford to take it easy if they choose to take up the typical middle class lifestyle
2-10M = Rich people as we commonly know it
10-100M = WOW!!!
>100M = Aliens

[Temperament]

Be sure to think of using them wisely. Singaporeans will find it difficult to appreciate it but should you have an opportunity to live in a bigger country, then you will appreciate the power of money better.

Why would this be so? Care to explain?

i think this is because in a big country you can't have "everything" at your door-step. So some of the things Singaporeans taken for granted may not be available if you don't have the money to get them, say from "Timbuktu". Or pay an annual visit to your hometown, as example. No money no visit for big country. My 2 cents worth.

[smallcaps]

I don't really like the term "affluent". Seems to convey a certain social class which may lead to snobbery (and boasting rights).

I prefer to just tell people that I am actively accumulating assets for retirement.

Prefer makansutra style, 1 chopstick, 2 chopstick ...

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How many dollars?