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$1m networth is middle-class. How much is considered upper-class?

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Old 17-05-2018, 07:42 AM   #1
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$1m networth is middle-class. How much is considered upper-class?

From discussion online, it seems $1m networth is not a lot today. It is not little, of course. Still sizable. However, it is considered "only" middle-class for people above their 40s. If you have $1m networth, you're mid SES (socio-economic status).

How much networth is considered upper-class or high SES for Singaporeans above 40?

It's good to know where we stand. Losers will drive themselves harder. Winners can take a short rest to improve their health if health has been slightly damaged from wealth accumulation process.

Last edited by klarklar; 17-05-2018 at 10:33 AM..
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Old 17-05-2018, 07:48 AM   #2
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No 30M, no talk. Which is why I am speechless.
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Old 17-05-2018, 08:00 AM   #3
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3 to 5 mil i guess.
1m cant even get a elegent primary residence.
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Old 17-05-2018, 08:06 AM   #4
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No 30M, no talk. Which is why I am speechless.
Too much. You don't live on earth. LOL.

3 to 5 mil i guess.
1m cant even get a elegent primary residence.
Sounds more reasonable. I think rising property prices have hugely raised our cost of living. $1m can only get us a condo these days.
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Old 17-05-2018, 08:08 AM   #5
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Online can talk until got dragon got Phoenix, but in reality, most earning less than 4 k or even 3 k per month.
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Old 17-05-2018, 08:10 AM   #6
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You're gonna attract the legendary troll to enter this thread to talk about her 5 terrace houses and 8 freehold condos.
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Old 17-05-2018, 08:11 AM   #7
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Online can talk until got dragon got Phoenix, but in reality, most earning less than 4 k or even 3 k per month.
Today, middle-managers in MNC or civil service can earn >$10k salary. God knows how much senior managers can earn. $3-4k salary are for grads in their 20s and early 30s. I think many of them can reach $1m networth by their 40s.
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Old 17-05-2018, 08:12 AM   #8
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I think it is like Maslow's hierarchy. There is a point beyond which your basic needs are set. I think that point is 100k. Then there is a point after which you feel you have arrived in the middle class, that point is 1m. Above 1m sky is the limit, because there is no end to how materialistic you can go.

Having said that, it also depends on individuals capacity and aspiration. For me 3M is the figure, that I feel I would like to have to feel I have achieved something. I don't know whether I will get there, but at this point that feels like the provorbial moon for me to reach.

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Old 17-05-2018, 08:12 AM   #9
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You're gonna attract the legendary troll to enter this thread to talk about her 5 terrace houses and 8 freehold condos.
networth = assets - liabilities

Having lots of property does not mean high networth because liabilities can be huge too.
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Old 17-05-2018, 08:42 AM   #10
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1 M is like upper middle class.
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Old 17-05-2018, 08:48 AM   #11
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1 M is like upper middle class.
It is if you are in your 20s or 30s.
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Old 17-05-2018, 08:56 AM   #12
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How you define upper class?

Those who stay in sentosa cove? Nassim road? Good class bungalow?

Dun compare so much lah.. 人比人 气死人
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Old 17-05-2018, 08:56 AM   #13
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Honestly all of u should wake up. You r quoting way too low figures for high SES.
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Old 17-05-2018, 09:04 AM   #14
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https://www.todayonline.com/singapor...030-dbs-report
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Old 17-05-2018, 09:11 AM   #15
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Sometimes I wonder how these figures really came about
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