What do I want to say? My points were:
1. Like it or not household incomes will keep rising, if nothing else, it will be because of inflation. Other drivers would be with better skill sets and qualifications of the work force wages will go up - unless the gahmen reopen the gate to more foreign talents.
2. For those thinking of retiring early or already retired with children still schooling, their household income will drop to zero, artificially bringing down the average. In other words the average household incomes could be even higher than the $10,503 reported.
3. For those heeding the gahmen's advise to work as long as they can, will see their household income rising especially when their children also enter the workforce, before they start their own families.
So, to avoid being caught off guard financially, best to keep working, saving and investing.
Quote:
Originally Posted by ks55
High growth rate will attract high inflation. High income associated with high cost for every type of services including workman. Cost of living is not govern by goods sold in market only. Affluent society like Singapore, most of take home pay goes to rental, restaurant food, entertainment, healthcare, house maintenance and repair.
Low income will stay in HDB flat, upper low income in EC, middle income in private condo, the rich in double storey terrace, very rich in bungalow, super rich in Sentosa Cove.
To compare living in Malaysia, the poor living in flat, upper lower income in single storey terrace, middle income in double storey terrace or semi-D, rich will stay in bungalow, very rich in resort home in exclusive zone, super rich in Sentosa Cove.
Quality of life is actually relative to your neighbour. Sad to see forumer keep on saying my pay is so much, my wife's pay is so much. It does't make sense at all. Actually what do you want to say? If you think you want to upgrade your living quarters, you should know better than others if you can afford it. No body know whether you have any undeclare source of income/ investment/windfall, neither is your other commitments.
In nutshell, live within your means you should be ok. To have too much comparison will make your life very miserable. |