3 Reasons Why $500,000 May Not Be Enough For Someone Living In Singapore

Like most societies, the middle class and the poor form the majority of the population in a country.

As of Singapore’s 2014 statistics, the median income per middle class individual is at $2380.

However the categorizing of those that falls under the middle classes are those earning $1500-$5000 a month.

This on its own is already showing a rather obvious disparity.

However, what if one day, someone were to come up to you, and offer you $500,000, in cold hard cash. Or you strike a lottery of that sum. Do you think it is enough?

1) It’s Not Even Enough To Buy HDB Flats

I have asked this hypothetical question to my peers and friends over coffee or dinner sessions.  The common reaction will be; “It’s not even enough to buy some HDB flat’s.” or “The money will run out eventually” etc.

Many see it as it is, $500,000 given.

What it can or can’t buy. But many fail to see initially what this amount of money actually means. The value it can create to give you a choice to improve your life.

2) How Long Does It Take An Average Middle Class To Earn That Sum

To break it down in figures, take it as you fall under the higher middle income bracket, let’s just say you are currently making $4500 fixed salary a month.

With AWS and let’s just throw in a yearly 1 month bonus and an annual 6% increment (high average market rate). It will take you about 7 years to earn that amount.

But realistically, will you be anywhere close to amass this figure of half a million in your bank in savings just based on the above alone?

3) What Is Our Current “Value”?

Most people want more, but do not stop to look back to check if they are capable of producing more. You can’t do the same thing every day and expect things to be different or change.

If you are the majority of the people who’s unhappy at work due to lack of work life balance, low salary etc, what are you doing to make a difference?

So shall we all take a step back, pause for a moment and look at this from another perspective?


[Image credits teachlikeachampion.com]


$500,000 is just a figure for you to realize what VALUE it can bring to your current situation as compared to how long $500,000 can last you. To put it simply, monetary wise, it can last you about 7 years of doing totally nothing till you spend it dry for and on whatever reasons.

But value-wise, it opens up several doors. And more importantly it buys you something that people say can’t be bought with money and that is time.

It can be used to start up a small business (imagine how long you will have to work and how hard you have to save to have half a million in your bank account), it can be used to enrich yourself in things you are interested in and therefore have a higher chance that you will enjoy doing that for a living.

We all pay to go to school to study, get a cert mostly in fields we have no interest in, so that we can just make up the numbers of people that goes to get a job just for survival.

If you are unhappy at your stagnant job, sick of the monotony of the daily grind, can’t see things getting meaningfully better, do stop and think for a moment of your current worth and if there’s anyways to improve.

So the main question is, before we want more, we have to think if we are capable of achieving more. $500,000 is not a lot of money, but it’s not little as well. But it’s a good figure for people to think about and put things in perspective.

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Shawn Lim

Interested in sharing alternative views on life issues. Our perception is our reality.

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