How much are you earning per annum?

[lazyplane]

So based on your tiers.. are you within 1- 4 ?

Originally Posted by Unregistered

Let me share with you the 5 tiers in networth in Singapore. Just 2 weeks ago, there was an article in Business Times on the top 50 wealthiest people in Singapore. The 50th richest person is worth $450M, while the richest person is worth $3.2Bn (combined with his brother) - Ng Teng Fong's sons.

The top 50 richest persons will form the first Tier in Singapore.

Tier 1 : $450M to $3.2 Bn

Tier 2 : $100M to $450M

Tier 3 : $50M to $100M

Tier 4 : $10M to $50M

Tier 5 : $0 to $10M

Tier 6 : below $0 (eg people with student loans, and those who owed loan sharks)

A GCB with minimum 15,000 sqft will cost $15M. Definitely not for a couple earning a measely $400k a year. I know because I earn more, but still cannot break through Tier 1. Maybe when I reach 60 years old, but by then the values would have gone up! Even winning group 1 TOTO also cannot bring you up to Tier 2.

How can $0 - $10m belong to a tier? It's completely unreasonable.

Even $0 - $1m is unreasonable.

You are comparing a poor chap earning 3000 per month to a person who already has $1 million in the bank.

[lazyplane]

well, based on this tier analysis, does anyone has a view the percentile of Singapore in the respective tiers ?

My view is that it will be approximately 1% to max 3% in tier 1-4.
85% in tier 5
Remaining in tier 6.

Originally Posted by Unregistered

How can $0 - $10m belong to a tier? It's completely unreasonable.

Even $0 - $1m is unreasonable.

You are comparing a poor chap earning 3000 per month to a person who already has $1 million in the bank.

450m and up : 50 households
100m to 450m : 500
30-100m : 3000
10-30m : 10000 households
5-10m : 30000 households
1-5m : 70000 households
<1m :1.08m or all the other households in sg

Rough estimate using various wealth mgmt firm data.

Originally Posted by Unregistered

Let me share with you the 5 tiers in networth in Singapore. Just 2 weeks ago, there was an article in Business Times on the top 50 wealthiest people in Singapore. The 50th richest person is worth $450M, while the richest person is worth $3.2Bn (combined with his brother) - Ng Teng Fong's sons.

The top 50 richest persons will form the first Tier in Singapore.

Tier 1 : $450M to $3.2 Bn

Tier 2 : $100M to $450M

Tier 3 : $50M to $100M

Tier 4 : $10M to $50M

Tier 5 : $0 to $10M

Tier 6 : below $0 (eg people with student loans, and those who owed loan sharks)

A GCB with minimum 15,000 sqft will cost $15M. Definitely not for a couple earning a measely $400k a year. I know because I earn more, but still cannot break through Tier 1. Maybe when I reach 60 years old, but by then the values would have gone up! Even winning group 1 TOTO also cannot bring you up to Tier 2.

Interesting comment and good point.

A noted researcher on world poverty once noted this:

For a poor person who is making $1 a day, he will find tremendous satisfaction when he increased his earnings to $10 a day. He would think that he is better off than his poor neighbours, and every small step up the wealth ladder is an achievement.

But for the rich (eg those in Tier 4 and above), they see everyone in Tier 5 as the same - poor.

So it all depends on from which Tier you are in.

Mathematically, the range of the banding is actually the smallest in Tier 5 -- $10M bandwidth.

In Tier 4, the band range is $40M,
In Tier 3, the band range is $50M
Tier 2 range is $350M
Tier 1 range is the largest : >$500M

Originally Posted by Unregistered

How can $0 - $10m belong to a tier? It's completely unreasonable.

Even $0 - $1m is unreasonable.

You are comparing a poor chap earning 3000 per month to a person who already has $1 million in the bank.

Originally Posted by Unregistered

450m and up : 50 households
100m to 450m : 500
30-100m : 3000
10-30m : 10000 households
5-10m : 30000 households
1-5m : 70000 households
<1m :1.08m or all the other households in sg

Rough estimate using various wealth mgmt firm data.

Thanks for sharing. May I know if this data is available at any public link?

Originally Posted by Unregistered

Thanks for sharing. May I know if this data is available at any public link?

No one link. If it were so easy, everyone would know. Assembled via many sources and using some simple common sense estimate.

Forbes listing, wealth x report on uhnwi, UBS,cap Gemini/ various other Millionaire tracking reports. Combine them all and use some guess timate.

In this temporary world, no amount of wealth will make you happy if you are not a grateful and contented person. If your net worth is $100k, you will look up to those with net worth of $300k, and once you reach a net worth of $300k, you then look up to those with net worth of $500k, then $1m, then $2m, then $3m, then $5m, then $10m, then $20m, then $50m, then $100m, then $1b, then $2b, then $5b, then $10b, then $50b, then $100b, then $200b, then $500b, then ...... It never ends. I'm sure you get my point.

Look at those with lesser not at those with more than you, then you will be contented.

In Spore, if your net worth is $1m, you are already among the top 2% in Spore. Be happy.

For those who are always not happy, I suggest you volunteer in charities and see how the poor, aged, handicapped live. You will realise that you are very fortunate. Trust me.

You say that but you keep telling everyone you are multi millionaire driving conti car etc, someone who sees beyong material wealth would never keep saying it over and over. Practice what you preach before trying to educate others.

Originally Posted by Unregistered

In this temporary world, no amount of wealth will make you happy if you are not a grateful and contented person. If your net worth is $100k, you will look up to those with net worth of $300k, and once you reach a net worth of $300k, you then look up to those with net worth of $500k, then $1m, then $2m, then $3m, then $5m, then $10m, then $20m, then $50m, then $100m, then $1b, then $2b, then $5b, then $10b, then $50b, then $100b, then $200b, then $500b, then ...... It never ends. I'm sure you get my point.

Look at those with lesser not at those with more than you, then you will be contented.

In Spore, if your net worth is $1m, you are already among the top 2% in Spore. Be happy.

For those who are always not happy, I suggest you volunteer in charities and see how the poor, aged, handicapped live. You will realise that you are very fortunate. Trust me.

Originally Posted by Unregistered

You say that but you keep telling everyone you are multi millionaire driving conti car etc, someone who sees beyong material wealth would never keep saying it over and over. Practice what you preach before trying to educate others.

Yes, I'm a multi millionaire but I'm not materialistic. I don't aspire to be a billionaire. I'm contented with my millions. A $200k conti car is no big deal, I don't splurge on a $1m sports car. I do lots of charity work and care for the less fortunate.