Forums - View Single Post - How many income groups are there - Low, Middle-low, Middle, Middle-high, High?
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Old 24-10-2011, 02:48 PM
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Originally Posted by xtrasaver View Post
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...
It means those people who are able to get a loan from the bank. If the unit costs $2m, the couple has to make $15k at least.
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