“How Are Young Singaporeans Affording Their Luxurious Lifestyles?” — A Netizen’s Inquiry Sparks Discussion

SINGAPORE: A netizen sparked a lively discussion in an online forum over the weekend (August 10) with the question, “How do young Singaporeans get so rich?” The post focused on the seemingly lavish lifestyles of young people, particularly those in university or younger, who can afford to travel, own cars, and dine at upscale restaurants frequently.

“Building off of a post I just saw about rich Singaporeans, I want to ask how so many young people these days are wealthy enough to travel, afford a car, go on very nice dinners frequently, go out every weekend, and overall just spend so much,” the netizen wrote. This prompted a deeper inquiry into whether their wealth stems primarily from their parents. “Is it really all just their parents’ money (apart from the exceptional ones)? If so, how does it usually work? Do they receive an allowance or do they actively just ask parents for the cash?”

The netizen expressed disbelief that many young people could start businesses, invest in cryptocurrency, and accumulate wealth so quickly, questioning, “But if it’s all just parents’ money, isn’t that lame when they flex their Chanel bags and their BMWs? Help me understand, please!”

Singaporeans Respond to Wealthy Youth Phenomenon
Responses poured in from Singaporeans sharing insights into this phenomenon, with generational wealth often cited as a key factor. “Most of the time it’s generational wealth,” one commenter noted. “I know of people who work freelance once or twice a month and live off their parents’ supplementary cards.” Another shared, “I had a friend in the army who drove an Audi to camp while I had to commute 1.5 hours to CCK.”

Others shared anecdotes about the extravagant lifestyles of their acquaintances from wealthy families. “Bro, I had a uni batchmate whose dad bought her a car once she got her driving license. But she’s a complete idiot. She also couldn’t park for nuts – it became a running joke among my friends whenever we saw the car. At the end of the day, it’s her privilege she could enjoy,” another remarked.

The Illusion of Wealth on Social Media
However, some commenters emphasized that appearances can be deceiving, especially with the impact of social media. “It’s just the optic they wanna show,” one person pointed out. “I have many colleagues who have Chanel bags and all, but turns out they sleep in a bunk bed with their three generations of family, only drink coffee from the pantry (because it’s free), and live paycheck by paycheck.”

A young adult chimed in, explaining their own experience: “People think I’m ‘rich’ because of the lifestyle I portray on social media. I’ve stopped receiving an allowance, and all the money I have comes from working multiple odd jobs and saving. But people don’t see the days where I cook at home to save money, enforcing a maximum $5 budget on my meals. These are not the things I put up on social media, so I don’t blame those who view me this way.”

In conclusion, the conversation highlighted the complex interplay between perception and reality among young Singaporeans navigating their financial journeys in a rapidly changing world.