Salary.sg Forums - How many income groups are there - Low, Middle-low, Middle, Middle-high, High?

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- - How many income groups are there - Low, Middle-low, Middle, Middle-high, High? (https://forums.salary.sg/income-jobs/1566-how-many-income-groups-there-low-middle-low-middle-middle-high-high.html)

Quote:

Originally Posted by Unregistered (Post 17509)

Your numbers are too low for Singapore in this day & age. The more accurate understanding is

Very Low - earning lower than $1500 per mth
Low income - earning between $1500 to $3000
Middle-low - earning somewhat between $3000 to $7000
Middle - earning between $7000 to $14000
Middle-high - earning between $14000 to $22000
High - earning between $22000 to $40000
Very High - earning $40000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.

Looks quite reasonable, the only slight change I suggest is

Middle-low - earning somewhat between $3000 to $6000
Middle - earning between $6000 to $14000

Based on most people I know, this should be more accurate.

Very Low - earning lower than $2999 per mth
Low income - earning between $3000 to $4999
Middle-low - earning somewhat between $5000 to $7999
Middle - earning between $8000 to $18999
Middle-high - earning between $19000 to $29999
High - earning between $30000 to $49999
Very High - earning $50000 onwards
Ultra high - they don't use income... they use assets such as $100mil, etc.

Quote:

Originally Posted by Unregistered (Post 17532)

damn i'm only in the High zone.

C'mon guys, it took me almost 6 years of hard work since I graduated to hit "High". I worked very hard, from 8am to 9pm 5 days a week!

Work hard and the money will follow. That's my advice!

Quote:

Originally Posted by Unregistered (Post 17537)

This may be the hard truth, only it keeps going up.

Quote:

Originally Posted by Unregistered (Post 17539)

C'mon guys, it took me almost 6 years of hard work since I graduated to hit "High". I worked very hard, from 8am to 9pm 5 days a week!

Work hard and the money will follow. That's my advice!

6 years ago, where bracket were you in?

Quote:

Originally Posted by Unregistered (Post 17539)

C'mon guys, it took me almost 6 years of hard work since I graduated to hit "High". I worked very hard, from 8am to 9pm 5 days a week!

Work hard and the money will follow. That's my advice!

Bad advice. This is the only advice successful people can give cos that's the only way they can explain their good fortune, and it keeps the askers busy for years.

The cold hard truth is: it takes hard work to be average, and lots of luck to be "successful".

Quote:

Originally Posted by Unregistered (Post 17542)

6 years ago, where bracket were you in?

0. I graduated 6 years ago.

How about those of us with no income, or are in debt?

Division by population

8 tiers too many already. And at the highest end of asset above 100M, less than 100 people here in SG... not meaningful. How about looking at it as 5 groups here in SG. The poverty class, working class, middle class, middle upper classes and the elite/upper . Divide them as follows :

05 % Poverty class : Total family earning below $1200 per month. No net worth or negative net worth. need govt subsidies/welfare to make ends meet.
25 % Working class : Total family earning below $3000 per month. Little net worth or negative net worth. Ineligble for govt help. But probably get help from relatives.
50 % Middle class : Total family earning below $10000 per month. Some networth but all tied up in HDB. Would venture to say networth below $500K.
20 % Middle Upper class : Total family earning below $30000 per month. Networth btwn 500K-10M, Avg 50% of assets tied up in home.
<0.1% Elite : Total family earning above 1M per annum. Networth 10M and up. Less than 30% of assets in home. There are about 10,000 such households in SG.

wah sian i am in ultra low.

time to visit bedok reservoir :(