Quote:
Originally Posted by Unregistered
Actually $10m combined net worth is nothing if you want to be defined as rich. The really rich ones are those who live in paid up $20m bungalows and with spare change to invest and spend as they wish. You need to have a net worth of at least $100m per person to be said as really rich. But of course if you compare to a billionaire, this guy is nothing. Don't be fooled by the material world.
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Why talk some thing that is beyond your reach?
Just talk about how middle income should have and what type of lifestyle they should enjoy!
Middle class in Singapore should :-
1. Able to buy 5 room
HDB....
2. Able to raise 2 children without second taught....
3. Able to send their children for self enrichment classes and private tuition without causing a dent in their financial....
4. Able to buy a Japanese car without paying serious consideration to
COE....
5. Able to have family trips every school holidays in Malaysia, including resorts in Sabah and Sarawak for 4 pax....
6. Able to give financial assistance to the aged parents (if needed) or token pocket money 6k a year, plus New Year/ Christmas gift......
7. Able to spend one sunday evening and dinner together at least once a month.......
8. Able to save up to 18% of their pay (in current year) in addition to
CPF contribution for next 35 years to achieve equivalent of 10 years last drawn salary....
9. Able to enjoy 70% replacement income when they retire (with
HDB flat paid up)....
So, how much do you think Middle Income should be?
120k a year? 150k a year? or 200k a year to see you should life a middle class lifestyle......