S’pore adults are world’s 8th wealthiest: study
-
Singapore adults have been ranked the eighth wealthiest people in the world, ahead of counterparts in the United Kingdom and Sweden. The average wealth of an adult Singapore resident stood at S$317,000 in 2012, up from $138,665 in 2000, according to a Credit Suisse study. Most of the rise is due to the saving rate and asset price increases rather than exchange rate movements, the study said. The richest nation with wealth per adult is Switzerland with S$597,600. The other Asian country in the top 10 ranking is Japan, in fifth place with $331,550. Household assets in Singapore are divided roughly equally into financial assets and eral assets, reflecting the government's strong encouragement for both savings and home ownership, the study said. Singapore is also ranked eighth in the number of millionaires. There were about 156,000 Singapore millionaires in 2012 and the number is expected to rise to 249,000 in 2017. United States has the most number of millionaires with 11,023,000 and the number is expected to rise to 16,870,000 in 2017. By region, about a quarter of the world's millionaires come from the Asia Pacific region, including China and India. Singapore adults also have an average debt of $56,000, which is moderate for a high wealth country. Only 20 per cent of Singaporeans have wealth below $12,000 as opposed to 69 per cent for the world as a whole. Click here for more information on the findings of the study. ======== so why are we still complaining?
-
from yahoo finance
-
Originally posted by dragg:
Singapore adults have been ranked the eighth wealthiest people in the world, ahead of counterparts in the United Kingdom and Sweden.
The average wealth of an adult Singapore resident stood at S$317,000 in 2012, up from $138,665 in 2000, according to a Credit Suisse study. Most of the rise is due to the saving rate and asset price increases rather than exchange rate movements, the study said.
The richest nation with wealth per adult is Switzerland with S$597,600. The other Asian country in the top 10 ranking is Japan, in fifth place with $331,550.
Household assets in Singapore are divided roughly equally into financial assets and eral assets, reflecting the government’s strong encouragement for both savings and home ownership, the study said.
Singapore is also ranked eighth in the number of millionaires. There were about 156,000 Singapore millionaires in 2012 and the number is expected to rise to 249,000 in 2017.
United States has the most number of millionaires with 11,023,000 and the number is expected to rise to 16,870,000 in 2017. By region, about a quarter of the world’s millionaires come from the Asia Pacific region, including China and India.
Singapore adults also have an average debt of $56,000, which is moderate for a high wealth country. Only 20 per cent of Singaporeans have wealth below $12,000 as opposed to 69 per cent for the world as a whole.
Click here for more information on the findings of the study.
========so why are we still complaining?
Can numbers lie... Of cors they can. To the lowly educated.....
Does the savings include our untouchable CPF ?
Is the home ownership asset value before or after debt ?
They really need to stop abusing the word. "average" . that's like saying we r equally as rich as those millionaires....or those millionaires are equally as poor as the peasants.
-
Originally posted by jojobeach:
Can numbers lie... Of cors they can. To the lowly educated.....
Does the savings include our untouchable CPF ?
Is the home ownership asset value before or after debt ?
They really need to stop abusing the word. "average" . that's like saying we r equally as rich as those millionaires....or those millionaires are equally as poor as the peasants.
actually if you factor in our cpf the article is correct. cpf is 'forced savings'. -
so with this type of report can increase prices somemore lah? or let in more foreign trashes?
-
of course anybody who bought a few property years ago are millionares today...easy way up...but not me
-
When wealth is relative, most Singaporeans would feel poorer reading that article... There rest are either too rich or too stupid or too naive.
-
Wealth... ... ...
they forgot to take in liabilities like housing loans...
-
Originally posted by mike09:
of course anybody who bought a few property years ago are millionares today...easy way up...but not me
You Debit Asset
sure have to
Credit Loans...
-
This is really making people feel delusional
when will they stop such delusional studies, reports?
-
Someone should come out a report on where Singapore people rank on "DISPOSABLE INCOME".....
That'll be the true wealth indicator, because we are simply too unique.
-
Originally posted by speakoutfor:
You Debit Asset
sure have to
Credit Loans...
No you stupid , poorly educated Foreign Trash.
Loan is not the only way to acquire asset.
Go back to where you come from !!
-
aiyah wanna tax our money just go ahead lah, what silly excuses say sgrean adults rich? if so then our kids largi richer
-
y I nt included in the study??!!!
-
Singapore population majority are largely average income earners. If you see carefully, most Singaporean are not wealthy. Singaporeans wealth are only on paper, like HDB assets and CPF funds. How many Singaporeans have hard cash in their saving accounts like for example $10,000 or $20,000?
-
Who would admit to that?
-
wealth is relative.
-
Originally posted by ditzy:
Who would admit to that?
I don't have $10,000 or $20,000 in my saving account. Just enough to survive and cover my daily expenses; and go into semi- retirement in JB. My CFP, well I won't be able to see it because it is not $150,000. I think I have about $20,000 plus and my beneficiary will get it when I die, not me. I have no more debts that is the reason I can go into semi-retirement and I can only do that while living in Malaysia. If I'm in Singapore.....no way I can do that...see what I mean.