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1 in 2 high income earners have financial problems

RadX

By RadX,
in Investment & Financial Matters

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Throttle2

Throttle2

Supersonic
(edited)
27 minutes ago, Wt_know said:

20 years ago yes ... now absolutely not

imagine BTO ceiling was $8K for donkey years ... then raise to $10K > $12K > $14K

this means ... many household already making $6K x 2 as "normal" ... unlike donkey years ago household $8K is a big deal liao

I mean single person income, not household.  $12k per person is high income meh?

then what about many of my friends whom i estimate make at least $70k to $150k a month?   Their household monthly income is probably $200k - $300k 

$12k is high meh? As a 25 yr old who just entered the job market compared to the peer average, perhaps!   But as an absolute, High meh? Pwui lah!!  Chey!  These idiots should stop misleading and brainwashing the general public.  
 

 

 

 

🤣😂😁😎

Edited by Throttle2
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13177

13177

Hypersonic
10 minutes ago, Throttle2 said:

I mean single person income, not household.  $12k per person is high income meh?

then what about many of my friends whom i estimate make at least $70k to $150k a month?   Their household monthly income is probably $200k - $300k 

$12k is high meh? As a 25 yr old who just entered the job market compared to the peer average, perhaps!   But as an absolute, High meh? Pwui lah!!  Chey!  These idiots should stop misleading and brainwashing the general public.  
 

 

 

 

🤣😂😁😎

Wa, $12k per person is not high income ah? Like that many people income very low liao, cause many people still earning below $10k income le?! But if combined income of above $10k, then many people should able to meet that. So if a person is earning around $6-7K, two person added together would be at least $12k or more liao. Lol.

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Throttle2

Throttle2

Supersonic
1 minute ago, 13177 said:

Wa, $12k per person is not high income ah? Like that many people income very low liao, cause many people still earning below $10k income le?! But if combined income of above $10k, then many people should able to meet that. So if a person is earning around $6-7K, two person added together would be at least $12k or more liao. Lol.

Yes fact of matter, $12k is not high.  And many peole are low, thats why we have one of the biggest rich poor gap in the world

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Beregond

Beregond

Supersonic
15 minutes ago, Throttle2 said:

Yes fact of matter, $12k is not high.  And many peole are low, thats why we have one of the biggest rich poor gap in the world

actually what is our average income??

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Spidey10

Spidey10

Supercharged
16 minutes ago, 13177 said:

Wa, $12k per person is not high income ah? Like that many people income very low liao, cause many people still earning below $10k income le?! But if combined income of above $10k, then many people should able to meet that. So if a person is earning around $6-7K, two person added together would be at least $12k or more liao. Lol.

pretty normal if combined husband and wife can get 12k a month income......and when you combine the expenses of both as well, probably more than 12k...[laugh] that's why in trouble liao..coz both also thinking they have high income and the other can support...[laugh]

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Throttle2

Throttle2

Supersonic
(edited)
1 hour ago, Beregond said:

actually what is our average income??

Thats quite irrelevant in real life.

its only a stat to make the general public feel good becos they are "average "  not below.   😂😁 

 

Edited by Throttle2
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Throttle2

Throttle2

Supersonic
1 hour ago, 13177 said:

Wa, $12k per person is not high income ah? Like that many people income very low liao, cause many people still earning below $10k income le?! But if combined income of above $10k, then many people should able to meet that. So if a person is earning around $6-7K, two person added together would be at least $12k or more liao. Lol.

Yes correct $12k is not high

matter of fact, most people are low, not high income.  
Just like me $4.2k per mth but i am cognizant of my own low income.  I dont pretend that $4.2k per month is average or high.  
 

most importantly i only spend $2k a month so no financial problem 

 

muayhahaha

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Kopites

Kopites

Supersonic
(edited)

 

😁

Famous quote.

Do not save what is left after spending, but spend what is left after saving.

Edited by Kopites
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macrosszero

macrosszero

Turbocharged
19 minutes ago, Beregond said:

i believe a great majority is below both😐

Yes, when the average is higher than the median it would suggest that there are a small number of very high earners and a large pool of people below both figures.

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Ash2017

Ash2017

Twincharged

Actually shouldn't it comparing income tax be a better parameter (exclude sole proprietor / business entities).

Someone's NRIC may have a HDB address but actually living in GCB. There are few in SG. Some living hand to mouth but living in rented GCB. How to use residential address as comparison?

Some haolian driving conti but aged and convince themselves as connoisseur for classic while others drive Korean car with plenty of hidden assets and yet others who drives expensive cars but on high loan and calculate if need to drive so much each month. How to use vehicle as comparison?

Salary also difficult. Some don't take salary but dividend from company then how to calculate. Others very high salary but expenses are more than salary. How to use salary as comparison for wealth?

 

After been reading tragic stories in ST, I learn to live within your means and be contended. Have ambition but be realistic. There is more to life than just money but money is important for living. 

 

 

 

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Beregond

Beregond

Supersonic
1 minute ago, Macrosszero said:

Yes, when the average is higher than the median it would suggest that there are a small number of very high earners and a large pool of people below both figures.

most of our kids now min got a degree.

what is the average starting pay of a degree holder nowsaday???? i look up on google. it mention 4k-5k?  accurate?

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Throttle2

Throttle2

Supersonic
(edited)
35 minutes ago, Macrosszero said:

Question you should also be asking is what is the median income:

https://www.todayonline.com/singapore/median-household-income-rose-shrinking-family-sizes-singstat

https://blog.seedly.sg/average-singaporean-household-income-stand/

Average - $10,608

Median - S$7,744

Thats household we talking individual 

got individual one boh?

no becos they scared to publish?

Edited by Throttle2
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Throttle2

Throttle2

Supersonic
6 minutes ago, Beregond said:

most of our kids now min got a degree.

what is the average starting pay of a degree holder nowsaday???? i look up on google. it mention 4k-5k?  accurate?

Yes for a good entry position in general.

$5kpm is kids salary lor

i am such a sad case. Less than an entry level grad 

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macrosszero

macrosszero

Turbocharged
20 minutes ago, Throttle2 said:

Thats household we talking individual 

got individual one boh?

no becos they scared to publish?

You know I know lah.

Household got 1 income earner or 4 or more income earners gives that floating x-factor that can not be identified.

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