Thursday, 20 February 2020
Median household income in 2019 is $9,293
Read? Income inequality in Singapore at lowest in almost two decades: SingStat
MEDIAN HOUSEHOLD INCOME ROSE
The SingStat report also said median household income from work among resident employed households - households headed by a Singapore citizen or permanent resident and at least one working member - grew 1 per cent in real terms, from S$9,293 in 2018 to S$9,425 last year.
Household income from work refers to the sum of income from employment and business - including employer Central Provident Fund (CPF) contributions - received by all working members of the household.
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Median income incl all CPF in Jun 2019 survey is $4,563
Median household income in 2019 is $9,293
We may use the above number as guide for our retirement income planning. How much is enough to live comfortably in Singapore WITHOUT squeezing ourselves too much by bench-marking to Median income level.
Median income after CPF is about $4K
Median household income after CPF is $8.2K
Monthly "passive" income per person of $4K should be okay!
CW,
ReplyDelete???
Buy shoes using Median shoe size can?
1. Weak-willed person with passive income of $2K happy happy got enough previously, like those who panic buy toilet paper, now concerned how to survive on $2K??? Yesterday OK, today not OK? Why? Because they read somewhere...
2. Those who live on passive income of $10K will sneer at $4K as "fake news". How can anyone survive on $4K? Really? You call that FIRE?
3. "Poor souls" depending on CPF Life suck thumb. Even those who are on Enhanced Retirement Sum (ERS) can't hit $4K :(
Benchmarking is useful to know where we are relative to others. Excessive benchmarking however belies a deep sense of insecurity and the constant need to seek approval from others.
It like that girlfriend who asks she pretty or not?
One time two times cute; asks everyday is red alert for self-esteem issues!
Cut-loss early?
Ha ha!
Delete