What is considered low, medium, high income in terms of dollars in Singapore and Wealthy

As of my last update, the classification of low, medium, and high income in Singapore can vary based on different sources and perspectives. However, here's a general guideline based on the average monthly household income:

1. **Low Income**: Low-income households in Singapore may have an average monthly household income below SGD 2,500 to SGD 3,500. These households may struggle to afford basic necessities such as housing, healthcare, and education.

2. **Medium Income**: Medium-income households typically have an average monthly household income ranging from SGD 3,500 to SGD 10,000. These households can cover their basic needs comfortably but may still face challenges with saving for major expenses or unexpected emergencies.

3. **High Income**: High-income households in Singapore often have an average monthly household income above SGD 10,000. They have the financial resources to afford a comfortable lifestyle, including luxury goods and services, as well as opportunities for savings, investments, and leisure activities.

In Singapore, the classification of "wealthy" can vary based on different perspectives and criteria. Generally, individuals or households with significant financial assets, investments, and/or high income levels are considered wealthy. While there isn't a specific dollar amount that universally defines wealth in Singapore, here are some indicators that may suggest a person or household is considered wealthy:

1. High Net Worth Individuals (HNWIs): In Singapore, individuals with investable assets exceeding a certain threshold, typically ranging from several hundred thousand to several million Singapore dollars, may be classified as high net worth individuals. These individuals often have substantial financial resources, including investments in stocks, bonds, real estate, and business ventures.

2. Affluent Lifestyle: Wealthy individuals in Singapore may lead an affluent lifestyle characterized by luxury homes, expensive cars, designer goods, and exclusive memberships to clubs and recreational facilities. They may also have access to elite educational institutions, healthcare services, and leisure activities.

3. High Income Levels: Wealthy individuals and households in Singapore often have high levels of income from sources such as executive salaries, business profits, investments, and other forms of passive income. They may earn significantly above the national average, allowing them to afford a comfortable lifestyle and accumulate wealth over time.

4. Financial Independence: Wealthy individuals in Singapore may have achieved a level of financial independence where they no longer need to rely on traditional employment for income. They may have diverse investment portfolios and passive income streams that generate sufficient wealth to sustain their lifestyle without active work.

5. Influence and Status: Wealthy individuals in Singapore may hold positions of influence and power in society, such as corporate executives, entrepreneurs, or prominent figures in government, academia, or the arts. They may also be philanthropic donors or community leaders who contribute to social causes and charitable organizations.

It's important to recognize that wealth is subjective and can be measured in various ways beyond just financial assets or income levels. Factors such as quality of life, happiness, fulfillment, and contributions to society also play a role in defining wealth and success.