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TBH I'm getting quite confused over all these conflicting so called research provided by finance companies.
On one hand I read stuides saying that SG has higher percentage of millionaires (think it was ~15% IIRC) not even including primary residence.
There are also numerous studies the latest one is from Citi claiming there are many people with saving substantial amounts of money. Salary reports from those HR consultancies also point to so many jobs making >150k annually.
Anecdotal and personal observations on average SG consumption habits tend to support this affluent view as well. Mass market shopping malls are always crowded and average SGs seem to have no qualms eating in restaurants twice a week while splurging on the latest gadgets and fashion statements.
Then on the other hand we have other studies claiming most SGs do not have enough for retirement, heavily in debt, earning lousy wages etc.
It is of course easy to dismiss all these inconsistencies as rich-poor divide, but even then how can many of these supposedly population wide broad based studies reach conclusions that seem at the opposite sides of each spectrum???
On one hand I read stuides saying that SG has higher percentage of millionaires (think it was ~15% IIRC) not even including primary residence.
There are also numerous studies the latest one is from Citi claiming there are many people with saving substantial amounts of money. Salary reports from those HR consultancies also point to so many jobs making >150k annually.
Anecdotal and personal observations on average SG consumption habits tend to support this affluent view as well. Mass market shopping malls are always crowded and average SGs seem to have no qualms eating in restaurants twice a week while splurging on the latest gadgets and fashion statements.
Then on the other hand we have other studies claiming most SGs do not have enough for retirement, heavily in debt, earning lousy wages etc.
It is of course easy to dismiss all these inconsistencies as rich-poor divide, but even then how can many of these supposedly population wide broad based studies reach conclusions that seem at the opposite sides of each spectrum???