Singaporeans second-richest in region

[yanziyang]

The report says 'Singapore has just 20 per cent of its people with wealth below US$10,000'. But 20% is not small and US$10,000 is almost equivalent to nothing.

This in line with the statement that 'median wealth is 90k'. In comparison, a new BTO 4 room at Punggol cost S$340k.

[yeokiwi]

https://www.credit-suisse.com/ch/en/news...tions.html

This kind of report appears almost every 2-3 months by citibank, UBS, HSBC, credit suisse, barclays......

The average wealth for singapore is 282k while the median wealth is 90k.

Country summary 2013
Population 5 million
Adult population 4 million
GDP 64,393 USD per adult
Mean wealth 281,764 USD per adult
Median wealth 90,466 USD per adult
Total wealth 1.1 trillion USD
Dollar millionaires 174 thousand
Top 10% of global wealth holders 2,238 thousand
Top 1% of global wealth holders 262 thousand
Quality of wealth data

[NTL]

If you happened to own a 5rm flat is Tiong Bahru/Queenstown Area and bought it in early 90s, it is not difficult to be having a total assets of $1M.

What important is the amount of "disposable" assets. Is there such a term?

[opmi]

Liquid assets.

$1m in property cannot even qualify u as an accredited investor in some stockbroking houses..

[NTL]

Hi opmi,

Liquid assets refers to cash and cash equivalent? Or broader to include less liquid investments?

[sgd]

how come never jump firm?... can try to fight for pay rise since it sounds unfair when it is one fifth of the japanese's

waiting for them to give me golden handshake then can go to another place.

In japan people are definitely well paid but work like heck I hear they frequently clock 60-70hr a week stress man.

[Clement]

I think this article helps put things in perspective. While we complain a lot about income inequality and lack of opportunities to climb the social ladder, almost every Singaporean has privileges many of our neighbors will die for. We can get hot or cold water instantly, we are well off enough to consume food from all over the world and almost all our us can control the temperature of our homes. We can get medical care for conditions which would be fatal in some other countries, I mean we don't have much to complain about. Worldwide terms, even our poorest citizens are probably in the 1%.

[opmi]

Hi opmi,

Liquid assets refers to cash and cash equivalent? Or broader to include less liquid investments?

Cash, bonds and equities. Generally considered by the wealth counters as liquid assets.

In real life, real estate can be considered as liquid at certain times. If u can clear within 2 weeks within 20% discount to mkt price, I consider it liquid.
Whereas, I consider 60% stake in a listed company is illiquid coz u cannot get rid so easily.

[countonme]

Asset rich, cash poor. Properties will only go up in this little island. If we wan property prices to keep going north, we have to make this place pro-business. And attract more FTs. Everybody with HDBs and private properties become landlords. Sound familiar ?