wow nice to see! in J3.   hope he can progress from there.  

Why no have ranking / breakup of Sinkie liabilities?    Mean liability, median liability ...

Jamus Lim: Singapore’s wealth looks strong on average, but is not everyone’s lived reality: In a July 7 post, Lim explains that the latest UBS Global Wealth Report highlights an important difference between wealth (net worth) and income. Wealth is a household's assets minus liabilities—such as CPF savings and home value less mortgages—while income is the flow of earnings and investment returns over time.       🔗 Read more: https://theindependent.sg/jamus-lim-singapore-s-wealth-looks-strong-on-average-but-is-not-everyone-s-lived-reality       This article breaks down a social media commentary by Sengkang GRC MP and economist Jamus Lim regarding the newly released **UBS Global Wealth Report**.       His core argument is that while global data makes Singapore look incredibly wealthy on paper, looking solely at "average" numbers masks a stark reality of wealth inequality for the typical Singaporean household.   The full details of his analysis and the specific data points mentioned in the report outline these disparities.       ### 1. The Core Data: Average vs. Median Wealth   To illustrate the gap between global perception and local lived reality, Lim highlighted Singapore's wildly differing placements in the UBS rankings:    * **Average (Mean) Wealth Per Adult:** Singapore ranks **6th in the world** at **US$527,217** (~S$711,000).    * **Median Wealth Per Adult:** Singapore drops to **20th in the world** at **US$96,434** (~S$130,000).   > **The Difference:** *Average wealth* is simply total national wealth divided by the adult population—a number easily skewed upward by a small group of multi-millionaires and billionaires. *Median wealth* represents the exact middle point; half the population has more than this amount, and half has less. It is a much more accurate reflection of the "typical" resident.   >        ### 2. The Mean-to-Median Wealth Ratio   Because a small group of ultra-high-net-worth individuals pulls up the average, Singapore exhibits severe statistical skewing.       Lim shared a screenshot from the UBS report showing the top economies ranked by their **mean-to-median wealth ratio**. On this specific metric, **Singapore ranks 4th globally** and **1st in Asia** for wealth imbalance. By comparison, Hong Kong (which ranks second in Asia) experiences a wealth gap that is only about two-thirds as severe as Singapore's.       ### 3. Wealth vs. Income in Singapore   Lim clarifies that wealth (net worth) is not the same as income:    * **The Income Layer:** It was recently reported that 1 in 7 household incomes in Singapore now exceed S$30,000 a month. High earners who save accumulate wealth, but high earners with massive expenses can still have low net worth.        * **The Reality of Wealth for Most Residents:** For the typical Singaporean household, "wealth" isn't liquid cash sitting in a bank. It is heavily tied up in illiquid assets: **CPF balances** and **home equity (property value minus the remaining mortgage)**.    * **The Liabilities:** On the flip side, major liabilities like property mortgages, car loans, and credit card debt actively suppress the day-to-day cash flow and net worth of typical households.       ### 4. The Policy Takeaway   Lim argues that using "average wealth" to paint a picture of broad prosperity is politically and socially misleading. When policymakers point to high average wealth, they risk concluding that there is little need for deeper financial intervention or wealth redistribution.   To address this, he reiterated his support for a **"modest net wealth tax"** on ultra-wealthy individuals. Rather than being a purely populist move, he argues that a wealth tax would actively strengthen Singapore’s long-term social stability by flattening the extreme skew at the top.   Ultimately, this statistical gap explains why Singapore can simultaneously look like a playground for the ultra-rich to the rest of the world, while local residents feel the squeeze of high costs without feeling genuinely wealthy themselves.  

Again?  

Should ban pickleball. Want to play ball in small space, play squash in fibreglass cage    Outside keep surveillance cam - cannot anyhow digitally abuse