Forums - View Single Post - How many income groups are there - Low, Middle-low, Middle, Middle-high, High?
View Single Post
  #4 (permalink)  
Old 24-10-2011, 01:56 PM
xtrasaver xtrasaver is offline
Verified Member
Join Date: Apr 2011
Posts: 13
xtrasaver is on a distinguished road

Originally Posted by Unregistered View Post
income by definition means you are still working. there are a number of people who don't have to work. these are the jobless rich. unless they collect rent, they typically don't have regular income - when they need money, they'll sell some shares or a condo. if you classify them based on rental income, they will probably just be middle-high or high by your classification.

that's why these jobless rich may even get largest growth packages from the government. nice right?

just sharing.
you're right.

so, in a way, it actually depends case-by-case, would you say?

very difficult to gauge i guess.

I have a friend who are semi-retired at age 30, but has about 2 mil in his bank, and he may be considered to be middle-high as he also owns a property (fully paid). Lifestyle that follows: drink at hotel lounges, goes holiday bi-monthly, always eat at restaurants.

I also have another friend in her 48 yrs of age, has about 100k in her bank without any property, earns about $9k, but similar lifestyle. Somehow she is more like middle-income.

But how about the masses? Any proper definition by IRAS or index by employment agencies?

Otherwise, what does Straits Times mean when they say 'middle-high' earners...
Reply With Quote