A family of four (i.e. parents, a teenager and a pre-teen) requires at least S$6,426 a month for a basic standard of living.
These findings were shared by the National University of Singapore Lee Kuan Yew School of Public Policy (LKYSPP) in a joint study with Nanyang Technological University (NTU).
This report was different from previous ones as it includes expenses for education, work-life balance, and access to healthcare. .
In short, this figure of S$6,426 should be close to what a typical household in Singapore requires to maintain a reasonable standard of living..
Unfortunately, the study also found that close to 30% of working households are not able to meet this level of income.
Here’s where dividend investing can help to close this gap.
Let’s delve into how this method of investing can help you sustain the lifestyle that you desire.
A worrying problem
In addition to the findings for four-member households, the study also highlighted that the...