For subscribers
‘I feel poor’: S’pore’s young professionals are earning good money, but feel financially inadequate
Sign up now: Get tips on how to grow your career and money
Money is frequently tied to deeper emotional needs and is a proxy for security, self-worth, love and validation, says psychiatrist David Teo of Connections MindHealth.
ST ILLUSTRATION: MANNY FRANCISCO
- Young affluent Singaporeans feel "poor" despite high incomes, driven by a shifting definition of financial comfort and anxiety about wealth accumulation amid rising asset prices.
- This "poverty" stems from hedonic adaptation, constant social comparison, inflation, and performative spending, compounded by structural pressures like mortgages and childcare.
- Achieving financial comfort requires distinguishing income from wealth, consistent investing in assets, controlling debt, and defining personal "enough" thresholds beyond social comparison.
AI generated
SINGAPORE – Singapore’s young professionals are earning more than their parents did at the same age. Many of them work in finance, technology, consulting or law, or at multinational firms. Yet, speak to enough of them and a strange refrain emerges: “I feel poor.”
