Household income only $29k, expats suffering too

[yahoo55]

Singapore is a super expensive city and has very high income inequality. The top 10% percentile average household income is heavily skewed by the top 1% super rich. Even though a $20K income household is in the top 10%, they can only afford a middle-class living standard if they have kids and save enough for retirement.

Keep in mind that household is a very subjective word because the household size varies, besides the breadwinners the household could include kids and elderly retired parents to support.

Those with household income of $10K income are in the 60-70 percentile, can only afford lower middle-class living standards in expensive Singapore if they want to save enough for their retirement.

I think those with household income of $5-6K could be the new poor especially if they have kids, they may not be able to save enough for their retirement in expensive Singapore.

Singapore household income

 

[yellowarse]

Singapore is a super expensive city and has very high income inequality.

Hit the nail on the head. The lack of social safety nets, universal healthcare & pension, minimum wage, and the high cost of doing business (primarily the result of rentier land-pricing policy) have contributed to the triple whammy of high living cost, low wages and high income inequality.

 

[jw5]

then sharksin and abalone how to compare? lol

No need to compare because both are over-rated.