Just the other day, I came across this
article from
The Straits Times stating with the attention-grabbing headline that
1 in 2 high-income earners in Singapore has money problems.
The article references this
report that was commissioned by
St. James’s Place (SJP) Wealth Management and undertaken by Sandpiper Communications.
For this report,
1,045 Singapore respondents between the ages of
25-54 from households with a minimum annual income of
$70,000 to over
$250,000 who held personal investments in stocks, property, shares, funds, etc. were surveyed. Also, SJP classifies these respondents as high-income earners.
But to contextualise it further, I looked at the latest
data from SingStat published on 8 Feb 2021.
| Monthly Resident Household* Income from Work (Excluding Employer CPF Contributions) for 2020 |
Per cent |
| Total |
100 |
| No Working Person |
13.3 |
| Solely Non-Working Persons Aged 65 Years & Over |
7.5
(subset of non-working persons) |
...
