7 levels of wealth and the amount of money to achieve for each level

The categorization of wealth into distinct levels can vary widely depending on factors such as location, standard of living, and personal perspectives. Here's a generalized breakdown of wealth levels and approximate amounts of money associated with each level:

1. 1. Survival Level: This level represents the basic ability to meet essential needs for survival, such as food, shelter, and clothing. The amount of money needed can vary significantly depending on location and personal circumstances. In some areas, it may be as low as $1,000-$5,000 per year for individuals living in extreme poverty. In Singapore if you are a young adult entering the workforce, assuming you have a roof over your head by staying with your parents, it will be about $4,800 per year (2024)

2. 
   

3. 2. Financial Stability: At this level, individuals have enough money to cover basic living expenses comfortably without significant financial stress. This could range from $20,000 to $50,000 per year for individuals, depending on factors such as family size and location. Normally you would have built up 6 months of emergency savings by then. Around early 20s to mid 20s

4. 
   

5. 3. Middle Class: The middle class typically enjoys a higher standard of living, with the ability to afford additional comforts and amenities beyond basic necessities. In many developed countries, this level may correspond to an annual income of $50,000 to $100,000 for individuals or families. In Singapore if you are a family of 4, a household income of $50k to $100k could count as middle class.

6. 
   

7. 4. Upper Middle Class: This level represents a higher income bracket within the middle class, with greater financial security and access to luxuries such as vacations, higher education, and investment opportunities. Annual incomes in the range of $100,000 to $250,000 or more may be characteristic of the upper middle class. In Singapore, that is where you will be going for 1-4 holidays overseas per year. Taking into consideration of all sources of income, example like fixed deposits interest, current account interest, T-bills, Singapore savings bonds, reits dividend income etc.

8. 
   

9. 5. Wealthy: Individuals or families in this category have accumulated significant assets and enjoy a high standard of living, with access to luxury goods, travel, and exclusive experiences. Annual incomes ranging from $250,000 to $1,000,000 or more are common among the wealthy. In Singapore for those people who have more than 1 real estate which they are renting out to people. These are the individuals or families that are wealthy and have a few income streams.

10. 
    

11. 6. Ultra-Wealthy: At this level, individuals possess substantial wealth and may have achieved financial independence, allowing them to maintain a lavish lifestyle without the need for active employment. Annual incomes can exceed $1,000,000, and net worth may reach into the tens or hundreds of millions of dollars. In Singapore, the Ultra-Wealthy are those that have a net worth of $30 million dollars and above. I would guess once you reach this level of wealth, time and experience is more valuable then saving a few dollars here and there.

12. 
    

13. 7. Billionaire: This represents the pinnacle of wealth, with individuals possessing assets and net worth exceeding one billion dollars. Billionaires have immense financial resources at their disposal, often including investments in businesses, real estate, stocks, and other high-value assets. I would reckon once you reach the Billionaire status, giving back society and helping others would give you more fulfillment then counting the growth of money. As you reach that status, the money will grow on indefinitely unless a financial criss occur and you are in it. I would view that once reach billionaire status, you will have so many multiple streams of income that you will never run out of money basically forever.