SINGAPORE: Wealth is typically measured by annual income, but some foreign nationals who have lived in Singapore say they have come up with a more unconventional, and slightly tongue-in-cheek, way of identifying how wealthy a local might be.
In an online post titled “The three levels of wealth in Singapore,” the author explained that these observations were not originally her own. Instead, they were shared with her by a group of friends who have lived in Singapore for many years.
“They explained what they jokingly (but half-seriously) call the three levels of wealth in Singapore. I’m curious how accurate this sounds to locals,” she said.
According to the post, the first level of wealth starts with owning a dog. “Level 1: You own a dog. Having a dog in Singapore is expensive. Vaccinations, vets, permits, general upkeep, it all adds up fast. According to them, if you see someone walking a dog, that person is definitely not poor.”
The second level involves owning a car. Her friends said that car ownership in Singapore signals a higher level of financial capacity, given how expensive it is compared with many other cities.
“They said it’s roughly two to three times more expensive than in Dubai,” she wrote. “Import duties, insurance, and especially the licence to own a car make it prohibitive. We roughly calculated that a Mercedes E-Class could end up costing around USD 300k.”
The third and final level, according to her friends, is having two or more children. This is where Singapore wealth allegedly reaches elite territory. “This was described as the real ‘wealth tier.’ Education is extremely expensive, nannies are costly, and then you add extracurriculars, clubs, activities, camps, and so on. If you’re raising two or more kids in Singapore, you’re doing very well financially.”
Unsure whether these observations were spot on or wildly off the mark, the author ended her post by inviting locals to weigh in. “Does this way of looking at wealth in Singapore resonate at all, or does it sound off?” she asked. “How would you personally describe the so-called levels of wealth? Genuinely curious to hear local perspectives.”
“True wealth is complete financial freedom.”
In the comments section, a majority of local users pushed back strongly against the author’s post, with many saying her friends’ way of measuring wealth in Singapore was deeply flawed and oversimplified.
Several commenters pointed out that the so-called “levels” were based entirely on visible expenses, rather than actual financial security or net worth.
One local user called them “some of the worst indicators of wealth” they had ever heard of, arguing that everything listed, from pets to cars to children, were costs that many average households already shoulder.
“Plenty of families with many kids receive financial aid from the government. Are they top-tier wealthy then?”
“People have pets, cars, nice houses but are in debt and have to hustle hard the rest of their lives just to pay those off. Is that wealthy?” the commenter asked, before offering their own definition.
“True wealth is complete financial freedom… when your time belongs to you. No fear of job loss, no stress about recessions, no decisions driven by money. Just the ability to live life on your own terms.”
Another commenter also took issue with the idea that having multiple children automatically placed someone in the highest wealth tier.
“If you consider level 3 as the richest, I seriously beg to differ,” they said. “Plenty of people who have many children but actually earn below median household income. Also, many people who buy a car on loans they can’t afford to pay. I know someone whose income is approx. $3k/month and spends $2k/month servicing the car.”
A third user shared, “I have a friend with 6 children. He does food delivery for $2k a month. His wife is doing Shopee collection points at home and has a home-based bakery. All his children are on a financial assistance scheme, and they live in a subsidised public rental flat. Does that sound like a tier 3 to you?”
Others criticised the entire premise of using lifestyle signals as a measure of wealth. One user commented that the idea itself was “really silly,” suggesting that people who care deeply about displaying wealth are often not truly wealthy in the first place.
“Those who care about signals probably aren’t truly wealthy,” they wrote. “While many really wealthy people probably don’t even exhibit any outward signals at all. Society isn’t quite as shallow as these stereotypical viewpoints.”
In other news, a 21-year-old Singaporean took to social media to share that her father expects her to financially support him the moment she graduates from university.
Posting on the r/SGExams subreddit on Sunday (Jan 11), the student explained that her father, who has no savings and works irregularly, wants her to give him a monthly allowance of at least S$1,000, on top of covering household utilities and groceries.
