This came about because I had to tackle a conundrum with Government statistics.
Earlier on, I wrote in the last article that the median income was $2,699 in 2017. Kyith Ng of Investment Moats thought that this number was a tad low and another BIGS participant found another number that said $4,232 per month.
As it turns out, all the numbers are correct. $2,699 was median income of a household divided by the number of heads in a household. $4,232 is the median income of someone who contributes to the CPF. In practice what this means is that a family consisting of a couple with kids will typically see the husband and wife making about two times $4,232. Dividing this sum total but the number of folks in the household, including kids, this will results in a figure closer to $2,699.
This brings up an entirely new and interesting dimension …