how many percent of Singaporeans have an exp recon system with “1-decimal-precision” i.e. 0.1k i.e. $100
This is a precise question. I would guess below 5%.
k_kidnap
See also
This is a scorecard for my family financial health. A real scorecard always references some benchmark. The benchmark is usually drawn from the local [1] population. A broad-based benchmark enables us to define social strata like “lower middle-class”. It would be invalid methodology to use a biased sample excluding the rich or the huge base of the pyramid.
My informal scorecard below is unscientific and biased, as it relies on a small sample of peers + casual observations of the local community. I don’t even know my peers’ actual incomes or expenses. Based on my subjective and vague benchmark, I think my family is/has ..
- A [h] good long-term sustainable burn rate; excellent data collection
- .. B [j] excellent long-term Fuller wealth .. based on Singapore recorded burn rate.
- .. A [h] excellent current brbr. Note I only remember the past 5Y to 10Y brbr.
- C [h] middle income per-capita, benchmarked to population
- B [h] good savings rate; good savings habit, resisting some lifestyle creeps .. In the U.S. we would cope with lower savings rate, lower living standard, higher stress ..
- — minor scores on the “back of the scorecard”
- C [j] decent net asset, still growing thanks to above-mentioned savings rate
- B [j] reasonable contingency reserve .. largely based on Medishield
- B [j] reasonable retirement plan .. based on Medishield + CPF-life etc
- C [h] reasonable investment return .. Let’s ignore the HDB
- D [j] * concentration-risk .. insufficiently addressed, considering CPF, 401k, Beijing property
- [j] unconventional insurances portfolio, hopefully adequate .. This item is unrated
- C [j] reasonable inflation protection .. for the low-inflation Singapore context
- AA [h] excellent exp recon and tracking .. basis of my monitoring, planning, forecast and this self-assessment
- [j =an accumulation item, 积累]
- [h=a current cash flow item, 花销]
Q: which items are neglected so far or deserve more sunshine?
A: maybe those marked with a *… Rather few.
— Defense, weather-proof … is the biggest theme in this scorecard, and presumably my cohort’s scorecard, too.
Singapore government provides more comprehensive protection than U.S. government.
Health is harder to accumulate or protect than wealth is. See reliable Shields@@ (burnRate^wellness) habits #w1r2 and other blogposts about “batteries”.
— [1] I have spent many years in U.S. and Singapore. Cost differences between countries are underestimated, and sometimes invisible until your entire family live in each location for a few years. See