Are All Singaporeans Really Wealthy? Residents Share What It Truly Means to Be “Rich”

SINGAPORE: A recent street interview by Asian Boss titled “Do Singaporeans feel rich?” offers an inside look at how local residents and foreign workers feel about their financial reality in Singapore, challenging the common assumption that all Singaporeans live wealthy lifestyles.

In the interview, respondents expressed how difficult it is to keep up financially amid the city’s high cost of living. One retired restaurant manager highlighted that a monthly income of SGD 3,000 or even SGD 2,000 often falls short, especially as living expenses continue to rise while wages stay largely the same. “Social media often gives a false view of Singapore life,” he said, noting that Singapore has a wide spectrum of income levels, with both wealthy and financially struggling individuals.

Others shared their anxiety about managing healthcare costs, with one medical dosimetrist voicing her worry about falling sick in Singapore, fearing high medical bills without adequate savings. “The struggles of living here are real, especially with rising costs. I don’t feel secure about growing old here comfortably,” she said.

For some, financial security isn’t only about material wealth. A young man explained, “For me, being rich isn’t about income; it’s about finding meaning in life. Money is just a number.” Another respondent added that feeling rich simply means having the freedom to be self-sufficient and live comfortably without relying on others.

When it comes to characteristics associated with wealth, respondents shared that affording property, a car, and luxury items are common indicators of affluence. Raising a family comfortably and hiring household help also signal financial security in Singapore. One student noted that sometimes attire can offer hints, saying, “You can sometimes tell who might be wealthier based on how they dress.”

This candid glimpse shows the varied perspectives of Singaporeans, revealing that in Singapore, “wealth” often depends more on financial stability and contentment than lavish lifestyles.