Are Singaporeans Extremely Wealthy Or In Debt?

Singapore is often touted as some of the world's richest people. Is this really true?

Narrated by Tom McKay
Video Edited by Iyanbriandi

Brought to you by the Behind Asian Team.

[BehindAsia]

Do you think Singaporeans will continue to be amongst the richest people in the entire world? Let us know down below!

[geoffreylimcowealthadvisory]

We are wealthy with money we can't touch

[doodlemecrzy]

There's a bunch of newly minted Singaporeans who are filthy rich. The nation itself is filthy rich but 80% of Singaporeans are just normal people living in small apartments eating at cheap hawker centers. If you randomly choose a mansion in Sentosa Cove, chances are the owner is likely a newly minted Singaporean who did not serve National Service/a permanent resident/ foreign businessman with companies or factories in Singapore. Globally many Singaporeans cannot be considered poor due to our small country size, housing policy and compulsory savings. Affluent is probably the word for many Singaporeans. Many Singaporeans are insecure as we are indoctrinated to scoff at social welfare & we will work ourselves to death rather than rely on social help.

[cac]

HDB debt. Continue to work beyond 65 to pay the overpriced housing.

[georgeho]

What is crazy rich? Nobody is crazy rich except the billionaires, and every country has some.

[neoshock]

Those crazy rich Singaporean won't comment here.

[samliang]

Majority of the singapore r struggling if u talk to people on the ground

[nickng-jmvk]

Not accurate, u can have a few thousand poor one and just need a billionaire to boost up the average income, then u said on average people are rich but in axctual fact only one rich man.

[denisechan]

The average Singaporeans are not poor but definitely not well off as it once was. Take for example a graduate couple earning $5, 000 each. With $10, 000, CPF take $2, 000 Left $8, 000. A HDB flat cost $500k. A meal from delivery cost $20 for the couple. Water and electricity if air conditioner cost at least $300 per month. Transport with occasional PHD cost at least $1k. Arrival of a child with a maid cost at least another thousand. Clothing and other expenses such as taxes, entertainment maybe another.$1k per month.
Note this is for graduates only, the majority earned less than $5k per month.

[Cless]

expectation matters. if you are looking at buying expensive cars, house etc, you will definitely feel that money is always not enough. not to mention sending kids to expensive tuitions and enrichment classes as well. True that HDB and housing loans will make us work until we die... but there also people here who bought cheaper house years ago and did not upgrade and still living a comfortable live earning around the median wage.

[hloc]

Like every other country all over the World.... There will always be someone that is crazy rich... There will always be someone that is rich, some middle income, some poor.

But overall... Most Singaporean don't have to work 2 job to survive. There is even Singaporean family with only a single income with 2 kids and yet is living normally.

[steventay]

Our per capital income is high because we have many working adults including foreigners. And our Government (Ministers, PM, etc..) are well paid.

[leealex]

As an objective outsider, I agree sg is very rich in assets but quality of living may not be anywhere in the top 10%.

[hongmama]

Spending power relative to most nations, yes we're pretty well to do. Just not in our home country. Wanna be a millionaire? Your 9 - 6 job can get you there right at about retirement provided you have proper financial planning, or strike the lottery lol.

[ziq]

They are modest amongst the neighbourhood, if they floor the pedal, the neighbours might not see the ""brake light""🤣

[flaviomulatojerkin]

Singaporeans are really stable economically, just like many other in Asia, financial knowledge by the common person makes them very stable and without contracting too much debt. Singapore is the same like Japan, South Korea and Taiwan, developed and well-educated people!!!

[Jwalker]

Politicians are crazy rich. Not the man in thesl street!! We have the most greedy politicians in the wrorld

[nathanaelchia]

Looking at $62.364 is just cursed because as a singaporean it looks like $62, 364 cents

[anghockseng]

Only 20% are rich the 20 to 30% are poor
From hand to mouth

[wendyshoowaiching]

Not but majority are millionaires due to long term pension savings and including their property assets