View Full Version : Singaporeans need $2.91 million to feel wealthy.
The Perfect Income for Happiness? It's $161,000
CNBC.com | November 30, 2012 | 12:45 PM EST
More than one study has tried to determine the financial price of happiness. Some look at wealth. Others look at income.
One well-publicized study last year put the optimal income for happiness at around $75,000. Rising income, it turns out, produces greater happiness until you get to around $75,000. After that, there are diminishing returns, with more income leading to little or no gain in real happiness.
This is a fraught question, of course. “Happiness” itself is not easily defined, and money, as the winners of this week's Powerball jackpot will tell you, doesn't always guarantee it. And the financial requirements for happiness usually depend on geography, peer groups and other external factors.
The latest to weigh in on the issue is Skandia International’s Wealth Sentiment Monitor. It found that the global average “happiness income” is around $161,000 for 13 countries surveyed. The United States wasn’t specifically measured. (Read more: Why Millionaires Prefer Dogs)
But there was a wide range of answers depending on the country. Dubai residents need the most to feel wealthy. They said the needed $276,150 to be happy. Singapore came in second place, with $227,553, followed by Hong Kong, with $197,702.
The region with the most modest needs for happiness is Europe. Germans only need $85,781 to be happy, placing them lowest on the list. The French need $114,000, while the British need $133,000.
The survey doesn’t ask about total wealth needed to feel happy. But it does ask about the amount of wealth needed to feel “wealthy.” Globally, the average amount needed to feel wealthy was $1.8 million.
Singaporeans took the lead on the “wealth” needs, with $2.91 million needed to feel wealthy. Dubai ranked second with $2.5 million, followed by Hong Kong with $2.46 million. (Read more: Where to Live If You Want to Be a Millionaire)
Surveys show that among Americans, most say they need $1 million or more to feel wealthy.
All of this shows that wealth and financial happiness is not an absolute number, but is relative to your peers and surroundings. Living in Dubai, with all those oil barons and oligarchs, the needs are higher. In Germany, where wealth is more evenly distributed, the needs are not as high.
How much wealth or income would you need to feel happy?
-By CNBC's Robert FrankFollow Robert Frank on Twitter: @robtfrank
More Top Stories
The Perfect Income for Happiness? It's $161,000
CNBC.com | November 30, 2012 | 12:45 PM EST
More than one study has tried to determine the financial price of happiness. Some look at wealth. Others look at income.
One well-publicized study last year put the optimal income for happiness at around $75,000. Rising income, it turns out, produces greater happiness until you get to around $75,000. After that, there are diminishing returns, with more income leading to little or no gain in real happiness.
This is a fraught question, of course. “Happiness” itself is not easily defined, and money, as the winners of this week's Powerball jackpot will tell you, doesn't always guarantee it. And the financial requirements for happiness usually depend on geography, peer groups and other
The latest to weigh in on the issue is Skandia International’s Wealth Sentiment Monitor. It found that the global average “happiness income” is around $161,000 for 13 countries surveyed. The United States wasn’t specifically measured. (Read more: Why Millionaires Prefer Dogs)
But there was a wide range of answers depending on the country. Dubai residents need the most to feel wealthy. They said the needed $276,150 to be happy. Singapore came in second place, with $227,553, followed by Hong Kong, with $197,702.
The region with the most modest needs for happiness is Europe. Germans only need $85,781 to be happy, placing them lowest on the list. The French need $114,000, while the British need $133,000.
The survey doesn’t ask about total wealth needed to feel happy. But it does ask about the amount of wealth needed to feel “wealthy.” Globally, the average amount needed to feel wealthy was $1.8 million.
Singaporeans took the lead on the “wealth” needs, with $2.91 million needed to feel wealthy. Dubai ranked second with $2.5 million, followed by Hong Kong with $2.46 million. (Read more: Where to Live If You Want to Be a Millionaire)
Surveys show that among Americans, most say they need $1 million or more to feel wealthy.
All of this shows that wealth and financial happiness is not an absolute number, but is relative to your peers and surroundings. Living in Dubai, with all those oil barons and oligarchs, the needs are higher. In Germany, where wealth is more evenly distributed, the needs are not as high.
How much wealth or income would you need to feel happy?
-By CNBC's Robert FrankFollow Robert Frank on Twitter: @robtfrank
More Top Stories
Indonesian only need sgd 125k (rp. 1.000.000.000) to feel happy or rich. :D everybody call us BILLIONAIRE ..LOL
Indomie..before you mention ur age.. I thought u re Axton Salim :D
So many indonesian chinese here... What are u doing? Go back home and goreng2 jkt properties.
So many indonesian chinese here... What are u doing? Go back home and goreng2 jkt properties.
bro, can recommend me cute indo chinese girl who is from wealthy background?
:o:o
bro, can recommend me cute indo chinese girl who is from wealthy background?
:o:o
There are a few cute indonesian chinese girl working as RM at dbs bank or many other banks in singapore. I am sure they come from a wealthy family.
There are a few cute indonesian chinese girl working as RM at dbs bank or many other banks in singapore. I am sure they come from a wealthy family.
how do i differentiate if they are from indo?
sometimes, i can't tell just from the look ..
:o
how do i differentiate if they are from indo?
sometimes, i can't tell just from the look ..
:o
Their name is a dead give away. But marrying rich has its perils. I prefer if u marry based on love.
ikan bilis
01-12-12, 10:02
umm... questions....
how many % of singaporean are networth >2.9mil ??...
so 80-90% of people here "no happy" ??... :(
Their name is a dead give away. But marrying rich has its perils. I prefer if u marry based on love.
thanks for the advice, bro.
i think i won't want to find girl in banking industry... maybe none of them are of good character.. :o
Need to "service" high ultra net worth clients? :p
thanks for the advice, bro.
i think i won't want to find girl in banking industry... maybe none of them are of good character.. :o
thanks for the advice, bro.
i think i won't want to find girl in banking industry... maybe none of them are of good character.. :o
Bro, i give you hint.. Just find indochinesse girl with family name.. Salim, gozali, Widjaja, riady, katuari... :D. They hv a GOOD character n PERSONALITY lol
Bro, i give you hint.. Just find indochinesse girl with family name.. Salim, gozali, Widjaja, riady, katuari... :D. They hv a GOOD character n PERSONALITY lol
bro, you are indo chi too? :D
So many indonesian chinese here... What are u doing? Go back home and goreng2 jkt properties.
Hahaha.. Actually im stay in jkt bro.... How about you? If u dont mind Where is ur hometown?
bro, you are indo chi too? :D
Yes bro... :)
ok...
but i heard indo is dangerous? eg. jarkata?
ok...
but i heard indo is dangerous? eg. jarkata?
We would like u to think it that way
Hahaha.. Actually im stay in jkt bro.... How about you? If u dont mind Where is ur hometown?
Jkt too bro
We would like u to think it that way
wah laoo :doh:
if got $$$ to make, me will travel there look look & see see :D
Believe having 3 million for retirement for the next few years should be happy and comfortable in singapore. I am sure quite a few people here already has more than this amount.
Believe having 3 million for retirement for the next few years should be happy and comfortable in singapore. I am sure quite a few people here already has more than this amount.
Singaporean so rich? :scared-4::scared-4::scared-4:
Singaporean so rich? :scared-4::scared-4::scared-4:
$3mil can only get you a decent landed nowadays.
In Singapore, very hard to be happy as a entry level millionaire.
I think we are like peasants millionaire level.
The too poor to afford what the rich can afford..
Ask me go buy a car above $200k ..and I cringed ..
But you see alot of >$300k cars on the road.
Lifestyle of the rich and famous is definitely out for those avg HNW (around usd$4.5mil based on singapore hnw's wealth). Unless they are still drawing a decent income and not retired.
That's why the findings show us as the highest $2.91 to actually feel wealthy, but cannot live wealthy.
Jkt too bro
Bro, how long u have been staying in jakarta????
Wah, u enjoy life man....
Cheers...:cheers2:
Funny:confused: :confused: up to now, so many people still think indo dangerous?:confused:
Don't know where they get that impression from?
Bro, how long u have been staying in jakarta????
Wah, u enjoy life man....
Cheers...:cheers2:
Funny:confused: :confused: up to now, so many people still think indo dangerous?:confused:
Don't know where they get that impression from?
Perhaps from the era when they paraded the streets holding a head in thier hands
Today jkt is not any more dangerous than jb. As with any country, common sense applies.
Bro, 5 mil @ 3% give u 150k... So after 1 1/2 year, u get the car lah?
Bro, u want to enjoy the highlife is it? If that, then need 20 mil.... Really depends what u want... For me, I live a simple life lah... But I definitely need some pampering... So I set my own target... Hahaha I quite happy leh...
;)
$3mil can only get you a decent landed nowadays.
In Singapore, very hard to be happy as a entry level millionaire.
I think we are like peasants millionaire level.
The too poor to afford what the rich can afford..
Ask me go buy a car above $200k ..and I cringed ..
But you see alot of >$300k cars on the road.
Lifestyle of the rich and famous is definitely out for those avg HNW (around usd$4.5mil based on singapore hnw's wealth). Unless they are still drawing a decent income and not retired.
That's why the findings show us as the highest $2.91 to actually feel wealthy, but cannot live wealthy.
Perhaps from the era when they paraded the streets holding a head in thier hands
Today jkt is not any more dangerous than jb. As with any country, common sense applies.
I have been to jakarta since 1991 till now... And love the place... Especially pondok laguna. Best Gurame (dancing fish).
:D
phantom_opera
01-12-12, 14:17
recent salary survey said happiest are those who make 8-9k pm, that means about 100k per year ... taking into accounts a couple, it will be around 200k ... so it is consistent
200k pa, if invest properly, not hard to have 3m assets when retiring ...
200k cannot lead high life but happy life :D
Singaporean so rich? :scared-4::scared-4::scared-4:
confirm chop.. no horse run. See forum members here for a benchmark.
singstat must print 7 years of deflation to poke the burst.
Those make more than 9k/mth are not happy as they are tax more and no benefits fm garment.
recent salary survey said happiest are those who make 8-9k pm, that means about 100k per year ... taking into accounts a couple, it will be around 200k ... so it is consistent
200k pa, if invest properly, not hard to have 3m assets when retiring ...
200k cannot lead high life but happy life :D
recent salary survey said happiest are those who make 8-9k pm, that means about 100k per year ... taking into accounts a couple, it will be around 200k ... so it is consistent
200k pa, if invest properly, not hard to have 3m assets when retiring ...
200k cannot lead high life but happy life :D
Bro, your 3 mil is investable asset (not include staying house)?
So 3 mil @ 3% = 90k per annum on retirement.
Those make more than 9k/mth are not happy as they are tax more and no benefits fm garment.
Bro, sorri :confused: :confused: :confused: :confused: :confused:
confirm chop.. no horse run. See forum members here for a benchmark.
haha.. me enjoy my chat with millionaires here. :D
give me inspiration and encouragement.. :D
My friends said $5 million is enough for retirement 5 years ago. Looking forward $10 mil is more comfortable.
Bro, sorri :confused: :confused: :confused: :confused: :confused:
they should up the starting prize for toto :D :D
My friends said $5 million is enough for retirement 5 years ago. Looking forward $10 mil is more comfortable.
Bro, I use 3% as roi... So 5 mil will yield 150k. Quite ok lah...12k per month... Conservatively.
:D
More comfortable if it can replace income.
Bro, I use 3% as roi... So 5 mil will yield 150k. Quite ok lah...12k per month... Conservatively.
:D
Its all about expectations.
Happiness Index cannot be measured by dollars and cts.
As long as there is medical expenses coverage, if one leads a simple life no need to think of so much money. If kids also can help support, that will be bonus.
More comfortable if it can replace income.
12k is more than enough for me!!! :scared-3::scared-3:
recent salary survey said happiest are those who make 8-9k pm, that means about 100k per year ... taking into accounts a couple, it will be around 200k ... so it is consistent
200k pa, if invest properly, not hard to have 3m assets when retiring ...
200k cannot lead high life but happy life :D
Hmm, interesting finding .
Last year, I take home about $15k per month. But decided to semi retire ( working 20 hrs per wk ) 4 months ago taking home about $ 8 k. I am happier because got more time to spend with family, friends and exercise. But at the same time, I keep asking myself if I was simply lazy.
I will give myself a few months to decide if I should go back full time again.
Will be happy if anyone can share your experience with me. Thanks :)
healthy life is happy life.
:)
Hmm, interesting finding .
Last year, I take home about $15k per month. But decided to semi retire ( working 20 hrs per wk ) 4 months ago taking home about $ 8 k. I am happier because got more time to spend with family, friends and exercise. But at the same time, I keep asking myself if I was simply lazy.
I will give myself a few months to decide if I should go back full time again.
Will be happy if anyone can share your experience with me. Thanks :)
if got stable passive income...can semi-retire liao..
:D
healthy life is happy life.
:)
this i totally agree. :D
buttercarp
01-12-12, 20:33
12k is more than enough for me!!! :scared-3::scared-3:
You are easily satified :) !
When I was a child, I used to think that if my future hubby brought home $10k, I would be a homemaker..............
phantom_opera
01-12-12, 20:54
The law of diminishing return
A 10k audio system vs 100k audio system vs 1m audio system
.. the 1m audio system you need to own a concert hall to maximize its potential and 90% of your favorites are probably too poorly recorded for even the 100k system
You are easily satified :) !
When I was a child, I used to think that if my future hubby brought home $10k, I would be a homemaker..............
when you were a child, that same 10k is probably 100k (going by hdb pricing). today, if your hubby brings home 100k/mth, would u be a homemaker?
:D
You are easily satified :) !
When I was a child, I used to think that if my future hubby brought home $10k, I would be a homemaker..............
me live a humble & simple life lor..
not into luxury la..
more into education, nature and music...:D
and understand what is real important in life...:tongue3:
You are easily satified :) !
When I was a child, I used to think that if my future hubby brought home $10k, I would be a homemaker..............
I also easily satisfied... When I started working, I told myself I will retire when I reach my first million. It came and I continued working... Inflation was the reason for my continuing work.
hahahahahaha
:D
me live a humble & simple life lor..
not into luxury la..
more into education, nature and music...:D
and understand what is real important in life...:tongue3:
if 12k/mth too much for u then cut half:
Assume 3mil:
-Stay in 800k condo n be humble
-3%-5% yield based on 1.5mil in property rental income: 45-75k p.a
-700k in cash buffer enuff for close to 10yrs based on a humble 6k/mth spending
buttercarp
01-12-12, 23:27
when you were a child, that same 10k is probably 100k (going by hdb pricing). today, if your hubby brings home 100k/mth, would u be a homemaker?
:D
LOL.... inflation!
No, I won't for 100k.
If 1 mil a month, then I will become a tai tai :D .
I also easily satisfied... When I started working, I told myself I will retire when I reach my first million. It came and I continued working... Inflation was the reason for my continuing work.
hahahahahaha
:D
bro, you are my role model..
but me haven't marry young like you..
so, me is losing abit here..
somemore, hdb price is not the same as your time.
so, the current time is a real challenge to me. :hell-hath-no-fury:
LOL.... inflation!
No, I won't for 100k.
If 1 mil a month, then I will become a tai tai :D .
if i got 1 mil a month, me already touring some exotic countries and fly on first class..
if 12k/mth too much for u then cut half:
Assume 3mil:
-Stay in 800k condo n be humble
-3%-5% yield based on 1.5mil in property rental income: 45-75k p.a
-700k in cash buffer enuff for close to 10yrs based on a humble 6k/mth spending
like i said, living condo doesn't matter to me. It is better but not necessary. me can still live in HDB ..
my priority is living near or close to nature.. :D
if 12k/mth too much for u then cut half:
Assume 3mil:
-Stay in 800k condo n be humble
-3%-5% yield based on 1.5mil in property rental income: 45-75k p.a
-700k in cash buffer enuff for close to 10yrs based on a humble 6k/mth spending
This is what i hv been doing and living on... doable :cool:
my priority is living near or close to nature.. :D
bro, u like monkeys? :eek:
This is what i hv been doing and living on... doable :cool:
yeah its quite possible:
Figures plucked from the sky for 6k/mth for a couple:
1k: insurance
2k: set aside every mth [1k for travel, 1k for expenses on random/large ticket items]
800: food
600: utilities/hp+internet
300: condo fee
500: entertainment
800: necessities/others
bro, u like monkeys? :eek:
still got monkeys around meh?
still got monkeys around meh?
eco sanctary? park natura?
That is why must create passive income same or more than active income to retire comfortably. Just like what chestnut said 1 mil is not sufficient. :)
bro, you are my role model..
but me haven't marry young like you..
so, me is losing abit here..
somemore, hdb price is not the same as your time.
so, the current time is a real challenge to me. :hell-hath-no-fury:
if i got 1 mil a month, me already touring some exotic countries and fly on first class..
like i said, living condo doesn't matter to me. It is better but not necessary. me can still live in HDB ..
my priority is living near or close to nature.. :D
eco sanctary? park natura?
ok........ :o:o
That is why must create passive income same or more than active income to retire comfortably. Just like what chestnut said 1 mil is not sufficient. :)
yea.. my priority is passive income first... :o
Unfortunately it is more difficult now but there are still gems out there. Look at those TOP in 2008 and in river valley area.
ok........ :o:o
yea.. my priority is passive income first... :o
Unfortunately it is more difficult now but there are still gems out there. Look at those TOP in 2008 and in river valley area.
thanks alot, bro.
me know i am late..but always keep a watch out for the smallest chance i can get :o
btw, me tried to pm you.. your inbox full already. please clear..
Sorry. Just clear them.
thanks alot, bro.
me know i am late..but always keep a watch out for the smallest chance i can get :o
btw, me tried to pm you.. your inbox full already. please clear..
still got monkeys around meh?
Mandai and Macritchie got a lot lor
S$1m cash not enough to retire? :ashamed1:
Think depend on your life-style right?
For some people, $2k per month expenditure is enough (exclude property assume fully paid off).
1 year needs $24k to spend.
$1m cash earning 3% return can get $30k per year, more than actual expenditure and still won't touch capital! :p
That is why must create passive income same or more than active income to retire comfortably. Just like what chestnut said 1 mil is not sufficient. :)
As I am approaching 40, my idea of "retirement "is to have a fully paid condo ( by the time I reached 40), have some form of passive income (rental, dividends), work part time ( so I should say semi retirement), and enough cash savings for next 20 years of expenses.
I am lucky to have a wife who enjoys working & earns more than me :ashamed1:
So I just have to make sure I have extra money to buy dog treats !
Cheers:cheers5:
As I am approaching 40, my idea of "retirement "is to have a fully paid condo ( by the time I reached 40), have some form of passive income (rental, dividends), work part time ( so I should say semi retirement), and enough cash savings for next 20 years of expenses.
I am lucky to have a wife who enjoys working & earns more than me :ashamed1:
So I just have to make sure I have extra money to buy dog treats !
Cheers:cheers5:
always good to have a woman who earn more than the man.. :D:D:D
As I am approaching 40, my idea of "retirement "is to have a fully paid condo ( by the time I reached 40), have some form of passive income (rental, dividends), work part time ( so I should say semi retirement), and enough cash savings for next 20 years of expenses.
I am lucky to have a wife who enjoys working & earns more than me :ashamed1:
So I just have to make sure I have extra money to buy dog treats !
Cheers:cheers5:
Bro, whenever possible, never use your savings for 20 year expenses... Try to find an investment with an roi to support your expenses... U never know how long u will leave...
Cheers
:D :cheers1:
Bro, whenever possible, never use your savings for 20 year expenses... Try to find an investment with an roi to support your expenses... U never know how long u will leave...
Cheers
:D :cheers1:
Agreed :) That is I really enjoy reading your generous sharing :D
I still have a lot of learning to do :p
always good to have a woman who earn more than the man.. :D:D:D
Haha :D
But u r already doing very well yourself :cheers5:
Haha :D
But u r already doing very well yourself :cheers5:
Is your nick cavaliver or suppose to be cavalier?
Haha :D
But u r already doing very well yourself :cheers5:
omg...you are following my post... :scared-4:
but my income will vary.. so, it is up to my creativity from time to time to attract business :D
Is your nick cavaliver or suppose to be cavalier?
Suppose to be cavalier.
Typo error, too lazy to change :banghead:
Suppose to be cavalier.
Typo error, too lazy to change :banghead:
I know... I also have a ckc... Hahahahahaha.
[QUOTE=roly8]omg...you are following my post... :scared-4:
Hahaha :D
U mentioned if u should marry a doctor &
I have a few doctors in my family, that's why I remember u :p
[QUOTE=roly8]omg...you are following my post... :scared-4:
Hahaha :D
U mentioned if u should marry a doctor &
I have a few doctors in my family, that's why I remember u :p
so.. assuming you are not a doctor, would you marry those female doctors in your family?
depend...
the look, figure and attitude will be the factors ...lol :D:D:D
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