Quote:
Originally Posted by Unregistered
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.
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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...