If top 1% where got high.

I googled, but your numbers seem extremely high, hence, I am asking for your source.

For Americans, the top 1% salary seems to be around $300k. Taking $600k (household) divided by average household number = 2.6 --> 2 (rounding down to account for children)

Where as for Singapore, they do not have an official number, but we can make some assumptions, like top 14% of households will be $240k.

Take top 1% (240k x 2.5, following US trend), we can assume that S$600k per household (1%). Average household in Singapore is 3 (rounding down equally with US, gets 2.3).

That will bring us to average of S$260k to crack 1%

Feel free to discuss

And ur sos ?

https://www.pewresearch.org/fact-tank/2019/...%203.4%20people.

https://www.statista.com/statistics/625305/...03.15%20persons.

https://blog.seedly.sg/average-singaporean-...d-income-stand/

https://smartasset.com/data-studies/what-it...1-by-state-2022

I see you're differentiating between household and individual. Yes when you have a household, individual incomes within the household can be less but still collectively be in the top 1%, but I was only interested in individual top 1% and I didn't try converting it implicitly to household income or vice versa, because it's no longer an apple to apple comparison and doesn't tell us anything

For Singapore there is this website called world inequality database with 1% data.

Yes, you are interested in the top 1% for an individual, hence I calculated that number for you.

You were using the wrong number for an individual.

You are probably right that 600k is counted as household income and the actual individual income needed is less, but it's not a straight measure, conversion or extrapolation.

Imho the whole concept of household income is a sham. Half the people I know are single income households and the other half are double income from husband and wife. I've never in my life seen a household supported by 2.6 people, or a household supported by 5 people. So what, do they all come home and put all their money into the same tabung... ?

This post has been edited by gooroojee: Jun 29 2022, 07:49 PM

Duplicate - deleted

This post has been edited by gooroojee: Jun 30 2022, 01:00 AM

Here is a more recent statement from the Singaporean MOF which like the USA has the only agency in the government that has individual income data based on reported taxable income.

https://www.straitstimes.com/singapore/budg...12-of-taxpayers

It would seem that the annual income I had pegged for the top 1% in Singapore is not too high at all. The announcement to raise taxes impacting the top 1.2% of individual tax payers in Singapore, starts from people earning over $500,000 a year.

If top 1.2% is $500,000 then top 1% is higher. This is by individual.

Feel free to discuss.

Ah yes, this is indeed a good data point.

Singapore however has disproportionate amount of foreigners at their 1% as they are the regional hub for SEA, and Asia.

I read in FT before that 30%++ of the top income earners are foreigners, but I cannot find the source.

So, thanks for the data point.

That is completely unrelated, and also foreigners are taxed a flat rate.

Fair point then

you are right

after 10 years..i burial space for my parents also bought chor. i wonder those chanting for crash crash bought their home mei. best time to buy imo.. but i follow icemanfx invest in stock.. KNN now money stucked.. sell now rugi berpuluh ribu.. should have just stick to property.

I didn't advise anyone to buy meme stocks, don't blame others for your own greediness. in time of rising loan interest rate and liquidity crunch, buying poorperly may feel like dying from pneumonia.

This post has been edited by icemanfx: Jul 4 2022, 03:07 PM

At tis pace, maybe u buy for ur grandkid also they still waiting crash.

Aiya later he said he no advise u buy stock. Keep cash under pillow only

For reasons why many are trapped on poorperly, glove stock, crypto, etc 14th floor.

This post has been edited by icemanfx: Jul 4 2022, 03:42 PM

he literally just did that! hahahaha right after you post.

Anyway high time for him to realize when economy is bad regardless stock/property or whatever kind of investment it will not be looking good.

icemanfx my TNB stock > 6 figure in RED la now. i'm not buying meme stocks mostly blue chip. i'm not going to sell when it's paper lost same goes to the 3 property i have.

I'm stucked in topglove as well bought @RM3.6 if not mistalen.. 5,000 unit.. damn that's going to take a very long time for it to appreciate.

You should aware one needs to shift portfolio from time to time

One should sell when novices like da ma, da shu, students are more expert and smarter than the professional.

Oh ya, foreigners are taxed at local rates if they are residents. So, that 1.2% does include a lot them.