How much are you earning per annum?

Bro, look beyond OCR if I were you. Size does not matter when you gets older.

Originally Posted by Unregistered

Thanks to all for your interesting and rational views and comments.

We have a budget of $6m, so GCBs and even detached houses are definitely out. As we don't intend to take on any loan, realistically, we are looking at $5.5m for the property leaving some money for furnishing and expenses.

The wife loves the space and the garden that landed property accords. I prefer making my money work for me so having 2 condos is a more attractive option.

We have seen some beautiful semi Ds within $5.5m range. On the other hand if we go for condos, we could get get 2 decent size 2000sf OCR condo/penthouses and still have money left over.

You don't understand his question. His question is whether he is in the mid or upper middle class group. This relates to all age group. So, yes many of those in their late 40s or 50s (including his household) would be in the upper middle class group.

Indeed young graduate couples will tend to be in the mid middle class group as they are just starting out, living in their BTO flats. As these young graduates gain more working experience and enjoy salary increment over the years, by the time they reach their 40s they would have higher household income, living in a condo and driving a car. Then they are in the upper middle class group.

Originally Posted by Unregistered

The median household income of $8k pm is across all age groups covering very young households to very mature households.

Since the couple is in their late 40s, they should be comparing their household income with the mature household incomes.

I think the median income of mature households is likely to be in the $15k pm range or more.

And more specifically, since they are staying in a condo, they should compare with incomes of condo households which was $19k to $20k pm on average.

Neither.

You are in the UPPER CLASS.

Households with income of more than $8k pm are considered as upper class.

Search for the article "Peeling away Singapore's class layers".

You have achieved the Singapore Dream! Congratulations!

Originally Posted by Unregistered

Couple in late 40s

Our HH income $167k pa
Our HH expenses $134k pa
Our HH savings $33k pa

Our expenses

Condo mortgage $14.4k pa
Food & utilities $24k pa
Car related expenses $7k pa (car paid up)
Medical insurance $20k pa
Children $12k pa
Parents $22k pa
Holidays $10k pa
Miscellaneous $24.6k pa
Total expenses $134k pa

HH net worth
Condo (home equity) $800k
Cash & CPF $600k
Total $1.4m

We are in the middle class group.

But are we in the mid middle class or upper middle class group?

Originally Posted by Unregistered

Neither.

You are in the UPPER CLASS.

Households with income of more than $8k pm are considered as upper class.

Search for the article "Peeling away Singapore's class layers".

You have achieved the Singapore Dream! Congratulations!

I regard lower class. Because of the age of both, 40++, danger of retrenchment.
HH 167k, so each at possibly 10k and below? In my company and all the many companies I have worked in, MNCs. This is only entry level manager salary. Again this level, easily replaceable.

Originally Posted by Unregistered

I regard lower class. Because of the age of both, 40++, danger of retrenchment.
HH 167k, so each at possibly 10k and below? In my company and all the many companies I have worked in, MNCs. This is only entry level manager salary. Again this level, easily replaceable.

This is a stupid post.

He didn't mention where he worked so can't assume.

You are lower class in your mindset and thinking.

Originally Posted by Unregistered

This is a stupid post.

He didn't mention where he worked so can't assume.

You are lower class in your mindset and thinking.

I posted this. In the many companies I have worked in, and different industries, by the way, I have also access to salaries of individual. This is the hard fact. And this salary scale is entry level manager in most companies. With this in mind, I regard lower class as the expenses and savings is too low compared to 167k earnings. But to each its own. Maybe you are at 5k and fin this amount very comfortable and think this is middle upper class. Well good luck then.

Originally Posted by Unregistered

I posted this. In the many companies I have worked in, and different industries, by the way, I have also access to salaries of individual. This is the hard fact. And this salary scale is entry level manager in most companies. With this in mind, I regard lower class as the expenses and savings is too low compared to 167k earnings. But to each its own. Maybe you are at 5k and fin this amount very comfortable and think this is middle upper class. Well good luck then.

You can think whatever you want to think.

Let's be objective. Read the article. It is a good research.

The perpetual "upper middle class/middle class/upper class" altercation is Cr.ap.

This portal has a wonderful HH income (albeit 2014) percentile comparator.
://.salary.sg/2014/compare-your-household-income-2014/
Please use it. Caveat - you just take GROSS Annual HH (incl employer cpf) and divide by 12.

If we adopt Pew research definition of middle class, it is from 2/3 of median HH income to twice the Median HH income. If you want to use other definitions, just state your income percentile thresholds.

Originally Posted by Unregistered

Neither.

You are in the UPPER CLASS.

Households with income of more than $8k pm are considered as upper class.

Search for the article "Peeling away Singapore's class layers".

You have achieved the Singapore Dream! Congratulations!

The idiot upper class guy is back! Say live in condo is upper class. Now say hh income $8k per month is upper class. Crazy! Most of my friends earn double that amount in hh income, so we are upper upper class? Wake up your idea, most young graduates couple will earn that amount in hh income within 1-3 years of graduating. It's not hard to achieve since $4k per month each will reach the 8k mark. So all young graduates are considered upper class? Stupid!

Originally Posted by Unregistered

This is a stupid post.

He didn't mention where he worked so can't assume.

You are lower class in your mindset and thinking.

Anyone who don't agree with this upper crass guy will be labeled lower class! Idiot! You are upper crass! Happy? Go back to your so called upper crass world! Here in the real world, you will never be considered as upper class.