household income
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I remember reading somewhere that to consider as rich in Singapore is having S$1million income a year. I believe there are a reasonable number of people in this category like CEO, other C level in big MNC/GLC, super scale civil servant, specialist doctors, top lawyers and business owners.
Earning 10k/mth and staying in HDB is much more very comfortable compared to those staying in condo.
To staying in condo, the household should have at least 15k/mth taking into consideration the mthly inslatment.
So what is middle income in Singapore? It depends on who you ask. To me is 5k-12k/mth.
Low income would be 2k/mth and below.
But whatever it is, the most important is live within your mean. There is no point earning 20k/mth but living under stress if staying in a GCB that cost more than 10million. -
KSP:
...So what is middle income in Singapore? It depands who you ask. To me is 5k-12k/mth.
Low income would be 2k/mth and below.
er .. then what is between 2k/mth to 5k/mth ? :? -
Grey area!!!
Some called themselves "poor", some called themselves "rich". Some own cars but some still go all the way to get subsidies. -
KSP:
...Earning 10k/mth and staying in HDB is much more very comfortable compared to those staying in condo.
....
I think income ceiling to buy flats from HDB is $8k .... -
tankee:
Oh come on. That is referring to buying directly from HDB. There is no ceiling if buying from resale or open market.KSP:
...Earning 10k/mth and staying in HDB is much more very comfortable compared to those staying in condo.
....
I think income ceiling to buy flats from HDB is $8k ....
Fyi, EC is 10k. There are many feedbacks to HDB to raise the ceiling to 10k/12k for HDB and 12k/15k for EC. That show that HDB is not catchng with the market salary. But I think they have to do something soon based on the sky high price from the recent new launch in matured estate flat. -
Thats the question that I had in mind.
above 10k cannot buy directly from HDB anymore, it means that this group of people belong to the high income group?
It is time for them to look into their policy again. -
Seriously, if you earn $8k and still cannot afford to buy from the open market then it is time to relook your financial planning. I am not referring to those who have to support a string of parents, grandparents and relatives, etc but a typical family nucleus.
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Funz:
Seriously, if you earn $8k and still cannot afford to buy from the open market then it is time to relook your financial planning. I am not referring to those who have to support a string of parents, grandparents and relatives, etc but a typical family nucleus.
Agree. I think for alot of ppl, their \"needs\" in life includes a Merc/BMW, LV handbags and yearly vacation to Europe LOL -
lovekidsverymuch:
Again it boils down to financial planning. No one ask you to go buy a $600K or $700K 5 rm HDB in the prime areas or mature estates. There are still those 4rms that are in the $300-400K range.Funz:
Seriously, if you earn $8k and still cannot afford to buy from the open market then it is time to relook your financial planning. I am not referring to those who have to support a string of parents, grandparents and relatives, etc but a typical family nucleus.
well if u dont have to support parents etc then guess 8 k is enuf but then govt also say need to support elders/relatives etc then have more kids so then how????
Way I see it, most people find the open market flats not affordable due to high cash outlay. But if you take home $6400 after CPF and you do not have cash savings then seriously take a good look at your spending.
You mention supporting parents and having more kids. In reality, how many households have more then 2 kids? Supporting our elderly parents. How much does it cost to support 2 sets of elderly parents? Again, I am not talking about the exception cases but the norm, where the parents are still of reasonably good health instead of chronically ill.
When setting policies, there is no way to cater to all scenarios so the only way is to cater to the majority and manage by exception.
If you want to own a car and send your kids to $1000/mth childcare, then why should the govt be subsidising your lifestyle. There is just this much to go around so it has to be used for those who genuinely need it not those who want a better deal. -
Funz:
well-said. $8K a month can do alot. Those who can't, better examine their finances.
Again it boils down to financial planning. No one ask you to go buy a $600K or $700K 5 rm HDB in the prime areas or mature estates. There are still those 4rms that are in the $300-400K range.
Way I see it, most people find the open market flats not affordable due to high cash outlay. But if you take home $6400 after CPF and you do not have cash savings then seriously take a good look at your spending.
You mention supporting parents and having more kids. In reality, how many households have more then 2 kids? Supporting our elderly parents. How much does it cost to support 2 sets of elderly parents? Again, I am not talking about the exception cases but the norm, where the parents are still of reasonably good health instead of chronically ill.
When setting policies, there is no way to cater to all scenarios so the only way is to cater to the majority and manage by exception.
If you want to own a car and send your kids to $1000/mth childcare, then why should the govt be subsidising your lifestyle. There is just this much to go around so it has to be used for those who genuinely need it not those who want a better deal.
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