Age 45 to 49 spending power is not due to their higher income but spending on their children's education. Those who married in the 30 to 35 have in second and tertiary education which requires the most expenses. That is also why more young people are not considering having children after their marriage and others prefer to be single. Our Government is concerned about this trend since there is no turning back the clock.
Japan and Taiwan has higher median wealth than SG despite having SG deriving much of the wealth from public housing… And the great disparity between average wealth and median wealth..
Exactly! It's not wealth when it comes to basic need like a roof over your head. If a roof over your head cost a million that's not wealth, that's inflation. All your money is spent on getting a simple roof over your head, and even that you're still in debt. How is that rich? That's poverty cause you got no more money to spend on any other things. The rich like Malaysians can buy a property back in Malaysia every year yet its free hold and still have 3.5x disposable salary to buy other things. That true wealth!
Yap, hence many Malaysians working here are much better off retiring back in their hometown… And I can’t imagine Taiwanese are richer than Singaporeans..we used to be much better off in the 90s/2000s..
Thank you for your great videos. I think our consumption and spending matter. If we live frugally, focus on savings, and reduce our desires, we can achieve financial freedom. Let me share an experience with you. Today, I went to see the latest Hollywood movie "Furiosa" at a cinema in Malaysia (price RM15/SGD4, quite expensive for a Malaysian). In the shopping mall, instead of going to Starbucks for a cup of coffee costing RM17/SGD5, I decided to go to the hypermarket section in the mall and bought a canned drink, Premium coffee, for RM1.70/SGD0.50. It is also from a well-known international brand. So, I saved a lot of money.
The richest in this region are Malaysian SPR getting paid SGD. Born and bred Singaporeans are no where close to their wealth: 1. No NS (no loss of 2 years of full-time income and head start in career) 2. Get to enjoy benefits of SPR + Malaysian citizenship 3. Earn in SGD spend in Ringgit (3.5x purchasing power)
@@KelvinLearnsInvestingPRs can enjoy most of that, too (without NS). Let's ignore the fact that with 3.5x salary, everything is subsidised for them. To say it bluntly, with their 3.5x salary even if they go red light district, is practically 70% subsidy. When we offset the fact that we lose 2 years of FULL-TIME SALARY, the subsidy we get is nothing.
You ran through a lot of data in a very short time. Will be nice if you slow it down and highlight a few more interesting data points. Thanks for your efforts!
@@mingzmings88 you seriously need to be more financial literate. Ill liquid assets are usually counted in networth. Go back and learn before embarrassing yourself lol
All these figures are wayyy too low. Realistically if you don't earn minimum $10,000 by the Age of 30 as a Singaporean and own a Condominium, you are considered a failure already. 🙂
Sponsor Moomoo SG (free stock) j.moomoo.com/00Fufg
Moomoo Malaysia (free stock) kvli.link/moomoomy
ROBOADVISORS
► Endowus (free $50) kvli.link/endowus
► Syfe kvli.link/syfe
► StashAway (50% off fees) kvli.link/stashaway
► AutoWealth (free $20) CODE "KelvinLearnsInvesting" kvli.link/autowealth
► UOBAM Invest kvli.link/uobaminvest
► Kristal.AI kvli.link/kristal
► DBS digiPortfolio: go.dbs.com/kelvinrdp
► OCBC RoboInvest CODE "SKVFQ"
CRYPTO
► KuCoin kvli.link/kucoin
► Crypto.com app (free $25) CODE "kelvinlearnsinvest" kvli.link/cryptoapp
► Crypto.com exchange CODE "kelvinlearnsinvest" kvli.link/cryptoexchange
► Coinhako (20% discount) kvli.link/coinhako
► Coinbase (free $10) kvli.link/coinbase
► Independent Reserve kvli.link/independentreserve
► Tokenize Xchange kvli.link/tokenize
► Ledger kvli.link/ledger
► Trezor kvli.link/trezor
RESEARCH
► Seeking Alpha (offer price) kvli.link/seekingalpha
► Simply Wall St kvli.link/simplywallst
► TradingView kvli.link/tradingview
PAYMENT
► Trust Bank (free $10) CODE "R2MQBA4S" kvli.link/trust
► Instarem Amaze CODE "plTefu" kvli.link/amaze
► CardUp ($30 off) CODE "KELINVEST" kvli.link/cardup
► ipaymy kvli.link/ipaymy
► Revolut kvli.link/revolut
► YouTrip (free $5) kvli.link/youtrip
► BigPay (free $5) CODE "QBHVUHL7HU" kvli.link/bigpay
► Wise (free transfer) kvli.link/wise
► SIA Kris+ (free $5) CODE "T425139" kvli.link/krisplus
► DBS Paylah (free $5) CODE "AHVULE614"
► FavePay (free $1) CODE "FAVETANKEL" kvli.link/fave
LIFESTYLE
► Envato kvli.link/envato
► Ohmyhome kvli.link/ohmyhome
How is this comment 6 days ago while this video is 1 hour ago?
Age 45 to 49 spending power is not due to their higher income but spending on their children's education. Those who married in the 30 to 35 have in second and tertiary education which requires the most expenses.
That is also why more young people are not considering having children after their marriage and others prefer to be single. Our Government is concerned about this trend since there is no turning back the clock.
Japan and Taiwan has higher median wealth than SG despite having SG deriving much of the wealth from public housing… And the great disparity between average wealth and median wealth..
Exactly! It's not wealth when it comes to basic need like a roof over your head. If a roof over your head cost a million that's not wealth, that's inflation. All your money is spent on getting a simple roof over your head, and even that you're still in debt. How is that rich? That's poverty cause you got no more money to spend on any other things.
The rich like Malaysians can buy a property back in Malaysia every year yet its free hold and still have 3.5x disposable salary to buy other things. That true wealth!
Yap, hence many Malaysians working here are much better off retiring back in their hometown…
And I can’t imagine Taiwanese are richer than Singaporeans..we used to be much better off in the 90s/2000s..
Re: Gini coefficient - it’s read like “Jeannie” and not like “Guinea” 🤭
Bro dont get started😅😅😅
0:58 Not just women but also new citizens and first-generation PRs like yourself also no need go NS mah.
😂
Re: 3:15 - isn’t the degree w highest starting pay “law” instead of “IT”?
Yea, I was confused as well.
Liked it before I listened. Cos I know for sure you've got quality content. Thanks, Kelvin!
Thank you for your great videos. I think our consumption and spending matter. If we live frugally, focus on savings, and reduce our desires, we can achieve financial freedom. Let me share an experience with you. Today, I went to see the latest Hollywood movie "Furiosa" at a cinema in Malaysia (price RM15/SGD4, quite expensive for a Malaysian). In the shopping mall, instead of going to Starbucks for a cup of coffee costing RM17/SGD5, I decided to go to the hypermarket section in the mall and bought a canned drink, Premium coffee, for RM1.70/SGD0.50. It is also from a well-known international brand. So, I saved a lot of money.
The richest in this region are Malaysian SPR getting paid SGD. Born and bred Singaporeans are no where close to their wealth:
1. No NS (no loss of 2 years of full-time income and head start in career)
2. Get to enjoy benefits of SPR + Malaysian citizenship
3. Earn in SGD spend in Ringgit (3.5x purchasing power)
How do you explain people like adam khoo who are 20times richer than these people.
Let’s ignore the fact that singaporeans have subsidized healthcare, more hdb grants, better education system etc
@@LongtermalwayswinsIf Adam Khoo is a Malaysian do you think he'd be just 20 times richer?
@@KelvinLearnsInvestingPRs can enjoy most of that, too (without NS). Let's ignore the fact that with 3.5x salary, everything is subsidised for them. To say it bluntly, with their 3.5x salary even if they go red light district, is practically 70% subsidy. When we offset the fact that we lose 2 years of FULL-TIME SALARY, the subsidy we get is nothing.
@@youtuberschannel12 You are right 😊
it would be helpful to know if most of the statistics were in SGD or in USD
People getting richer younger in Singapore? That is good news! Super like. 🎉💯🥳
Thanks for the good content bro!
You ran through a lot of data in a very short time. Will be nice if you slow it down and highlight a few more interesting data points. Thanks for your efforts!
Average savings rate at 34% including CPF sounds pathetic. Like that how to retire?
Really like this content. Thank you
Does the networth include non liquid assets like cpf?
@@mingzmings88 you seriously need to be more financial literate. Ill liquid assets are usually counted in networth. Go back and learn before embarrassing yourself lol
Best 💇 haircut!
US Treasury bond has tax?
No tax because it doesnt pay dividend
0:58 knn u cannot say bro, u also didn’t go ns
All these figures are wayyy too low. Realistically if you don't earn minimum $10,000 by the Age of 30 as a Singaporean and own a Condominium, you are considered a failure already. 🙂
Nah. No 50k per month no landed/pent house / no super car eg merc amg gt63 by 40 = failure these days
Failure... 😱😱😱
Fake stats, based on street surveys freshgrad earns 10k/month leh
U speak so fast didnt catch if u mentioned if bonus and aws is included?
Talk super fast… why rush to talk
You can adjust the youtube playback speed.
Talk too fast can't understand
Nice to see you again bro