Socioeconomic Classifications According to NEDA

[uls]

i think what separates the really rich from everyone else isn't just income

it's access

the really rich have advisors who guide them thru complex laws and exemptions from laws and taxes

their advisors also help hide wealth

for example using shell companies to hide assets

for me that's the 0.1% of the world

that kind of access isn't available to the 99.9%

[_Cathy_]

c d e

baket meron jeep clause

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owner jeep?

I still can't believe how many are considered AB My friends and family complain all the time about not having enough.

[jut703]

A quick search shows that presently, the NSCB classifies households who earn more than 200k/month as already part of the rich. Suprisingly, only 0.1% of Filipino families fall into this bracket.

SWS on the other hand classifies households in class AB as having 1.8M/yr or 150k/month, and only 1% of Filipino families, or again about 1M individuals, are part of this bracket.



https://www.pinoymoneytalk.com/sec-a...ge-population/

The reason I think why many people from the AB segment think that they're not rich enough to be AB is because they're surrounded by people who are as rich or richer than them so they tend to feel "average". But think about it, there are 100M Filipinos and if you combine everyone living in AAV, LGV, Dasma, Forbes, etc - that's just a few thousand people. The top 0.1% still refers to 100,000 individuals or about 25,000 households.

But if you look outside your social circle, there are millions of families with lower incomes and poorer living conditions. Urban slums like Tondo and Bagong Silangan house millions of poor Filipinos. Many rural towns in the provinces have high concentrations of low-income families. We don't interact with these people often - but the reality is that they comprise the majority of the 100M Filipinos today.

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[StockEngine]

A quick search shows that presently, the NSCB classifies households who earn more than 200k/month as already part of the rich. Suprisingly, only 0.1% of Filipino families fall into this bracket.

SWS on the other hand classifies households in class AB as having 1.8M/yr or 150k/month, and only 1% of Filipino families, or again about 1M individuals, are part of this bracket.



https://www.pinoymoneytalk.com/sec-a...ge-population/

The reason I think why many people from the AB segment think that they're not rich enough to be AB is because they're surrounded by people who are as rich or richer than them so they tend to feel "average". But think about it, there are 100M Filipinos and if you combine everyone living in AAV, LGV, Dasma, Forbes, etc - that's just a few thousand people. The top 0.1% still refers to 100,000 individuals or about 25,000 households.

But if you look outside your social circle, there are millions of families with lower incomes and poorer living conditions. Urban slums like Tondo and Bagong Silangan house millions of poor Filipinos. Many rural towns in the provinces have high concentrations of low-income families. We don't interact with these people often - but the reality is that they comprise the majority of the 100M Filipinos today.

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I think ppv/pickup owners easily do 2M a year. If counting ppv sales the past 5 years and multiply that by a factor of 5 (ownership length), thats how many this class is. and its the fastest growing class. which class do they fall in? i dont know.



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[jut703]

I think ppv/pickup owners easily do 2M a year. If counting ppv sales the past 5 years and multiply that by a factor of 5 (ownership length), thats how many this class is. and its the fastest growing class. which class do they fall in? i dont know.



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30k/month lang naman hulog sa PPV. Many people are neck-deep in their car loan payments, hindi naman lahat mayaman. And even if we indulge that hypothesis - looking at the 2017 numbers and the average of 20-30% car sales growth, it's safe to assume around 500,000 PPVs/pickups were sold in the past 5 years. So following your assumptions, that's just 0.5% of the total Filipino population.

Nandiyan na yung data bro. Both private and government institutions spend millions of pesos on market research to get their numbers right.

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[StockEngine]

30k/month lang naman hulog sa PPV. Many people are neck-deep in their car loan payments, hindi naman lahat mayaman. And even if we indulge that hypothesis - looking at the 2017 numbers and the average of 20-30% car sales growth, it's safe to assume around 500,000 PPVs/pickups were sold in the past 5 years. So following your assumptions, that's just 0.5% of the total Filipino population.

Nandiyan na yung data bro. Both private and government institutions spend millions of pesos on market research to get their numbers right.

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bro the payment of 30k monthly for a vehicle is just part of their "capacity". they still have money to pay for property and other expenses like yaya, electric bill water bill.

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[StockEngine]

bro the payment of 30k monthly for a vehicle is just part of their "capacity". they still have money to pay for property and other expenses like yaya, electric bill water bill.

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also majority of ppv buyers arent first time vehicle buyers.

there are a few that are though.

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[uls]

never ko naging basehan ang sasakyan kung mayaman ang isang tao o hinde

it just separates you from the commuting public but that's it

ang basehan ko is freedom

wealth buys freedom

yung hindi ka nakatali sa trabaho o business

a manager with a big salary doesn't have the freedom to fly out of the country anytime he gets bored

it's the guy who employs the manager who has that kind of freedom

ordinary folks have to wait for long weekends or public holidays to go on holiday

rich people don't have that constraint

[EQAddict]

never ko naging basehan ang sasakyan kung mayaman ang isang tao o hinde

it just separates you from the commuting public but that's it

ang basehan ko is freedom

wealth buys freedom

yung hindi ka nakatali sa trabaho o business

a manager with a big salary doesn't have the freedom to fly out of the country anytime he gets bored

it's the guy who employs the manager who has that kind of freedom

ordinary folks have to wait for long weekends or public holidays to go on holiday

rich people don't have that constraint

Amen bro. I need freedom hahaha. Which kinda reminds me what the pursuit is all about?

Someone posted this before. But let me post it again:


************************

“Everyone chases after happiness, not noticing that happiness is right at their heels.” –Bertolt Brecht

—

One day a fisherman was lying on a beautiful beach, with his fishing pole propped up in the sand and his solitary line cast out into the sparkling blue surf. He was enjoying the warmth of the afternoon sun and the prospect of catching a fish.

About that time, a businessman came walking down the beach trying to relieve some of the stress of his workday. He noticed the fisherman sitting on the beach and decided to find out why this fisherman was fishing instead of working harder to make a living for himself and his family. “You aren’t going to catch many fish that way,” said the businessman. “You should be working rather than lying on the beach!”

The fisherman looked up at the businessman, smiled and replied, “And what will my reward be?”

“Well, you can get bigger nets and catch more fish!” was the businessman’s answer.

“And then what will my reward be?” asked the fisherman, still smiling.

The businessman replied, “You will make money and you’ll be able to buy a boat, which will then result in larger catches of fish!”

“And then what will my reward be?” asked the fisherman again.

The businessman was beginning to get a little irritated with the fisherman’s questions. “You can buy a bigger boat, and hire some people to work for you!” he said.

“And then what will my reward be?” repeated the fisherman.

The businessman was getting angry. “Don’t you understand? You can build up a fleet of fishing boats, sail all over the world, and let all your employees catch fish for you!”

Once again the fisherman asked, “And then what will my reward be?”

The businessman was red with rage and shouted at the fisherman, “Don’t you understand that you can become so rich that you will never have to work for your living again! You can spend all the rest of your days sitting on this beach, looking at the sunset. You won’t have a care in the world!”

The fisherman, still smiling, looked up and said, “And what do you think I’m doing right now?”





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[uls]

Amen bro. I need freedom hahaha. Which kinda reminds me what the pursuit is all about?

Someone posted this before. But let me post it again:


************************

“Everyone chases after happiness, not noticing that happiness is right at their heels.” –Bertolt Brecht

—

One day a fisherman was lying on a beautiful beach, with his fishing pole propped up in the sand and his solitary line cast out into the sparkling blue surf. He was enjoying the warmth of the afternoon sun and the prospect of catching a fish.

About that time, a businessman came walking down the beach trying to relieve some of the stress of his workday. He noticed the fisherman sitting on the beach and decided to find out why this fisherman was fishing instead of working harder to make a living for himself and his family. “You aren’t going to catch many fish that way,” said the businessman. “You should be working rather than lying on the beach!”

The fisherman looked up at the businessman, smiled and replied, “And what will my reward be?”

“Well, you can get bigger nets and catch more fish!” was the businessman’s answer.

“And then what will my reward be?” asked the fisherman, still smiling.

The businessman replied, “You will make money and you’ll be able to buy a boat, which will then result in larger catches of fish!”

“And then what will my reward be?” asked the fisherman again.

The businessman was beginning to get a little irritated with the fisherman’s questions. “You can buy a bigger boat, and hire some people to work for you!” he said.

“And then what will my reward be?” repeated the fisherman.

The businessman was getting angry. “Don’t you understand? You can build up a fleet of fishing boats, sail all over the world, and let all your employees catch fish for you!”

Once again the fisherman asked, “And then what will my reward be?”

The businessman was red with rage and shouted at the fisherman, “Don’t you understand that you can become so rich that you will never have to work for your living again! You can spend all the rest of your days sitting on this beach, looking at the sunset. You won’t have a care in the world!”

The fisherman, still smiling, looked up and said, “And what do you think I’m doing right now?”





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haha yeah exactly Sir


--


keep acquiring assets that generate income

the goal is your assets will generate enough income to support the lifestyle you want

then you don't have to work anymore

[jut703]

Amen bro. I need freedom hahaha. Which kinda reminds me what the pursuit is all about?

Someone posted this before. But let me post it again:


************************

“Everyone chases after happiness, not noticing that happiness is right at their heels.” –Bertolt Brecht

—

One day a fisherman was lying on a beautiful beach, with his fishing pole propped up in the sand and his solitary line cast out into the sparkling blue surf. He was enjoying the warmth of the afternoon sun and the prospect of catching a fish.

About that time, a businessman came walking down the beach trying to relieve some of the stress of his workday. He noticed the fisherman sitting on the beach and decided to find out why this fisherman was fishing instead of working harder to make a living for himself and his family. “You aren’t going to catch many fish that way,” said the businessman. “You should be working rather than lying on the beach!”

The fisherman looked up at the businessman, smiled and replied, “And what will my reward be?”

“Well, you can get bigger nets and catch more fish!” was the businessman’s answer.

“And then what will my reward be?” asked the fisherman, still smiling.

The businessman replied, “You will make money and you’ll be able to buy a boat, which will then result in larger catches of fish!”

“And then what will my reward be?” asked the fisherman again.

The businessman was beginning to get a little irritated with the fisherman’s questions. “You can buy a bigger boat, and hire some people to work for you!” he said.

“And then what will my reward be?” repeated the fisherman.

The businessman was getting angry. “Don’t you understand? You can build up a fleet of fishing boats, sail all over the world, and let all your employees catch fish for you!”

Once again the fisherman asked, “And then what will my reward be?”

The businessman was red with rage and shouted at the fisherman, “Don’t you understand that you can become so rich that you will never have to work for your living again! You can spend all the rest of your days sitting on this beach, looking at the sunset. You won’t have a care in the world!”

The fisherman, still smiling, looked up and said, “And what do you think I’m doing right now?”





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I remember posting something similar a few years back:

A little story about a Mexican fisherman illustrates success in a simple life well lived.

The businessman was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The businessman complimented the Mexican on the quality of his fish and asked how long it took to catch them. The Mexican replied only a little while.

The businessman then asked why he didn't stay out longer and catch more fish? The Mexican said he had enough to support his family's immediate needs. The businessman then asked, but what do you do with the rest of your time? The Mexican fisherman said, "I sleep late, fish a little, play with my children, take a siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos; I have a full and busy life, señor."

The businessman scoffed, "I am a Harvard MBA and I could help you. You should spend more time fishing and with the proceeds buy a bigger boat. With the proceeds from the bigger boat you could buy several boats; eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman, you would sell directly to the processor and eventually open your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City where you would run your expanding enterprise."

The Mexican fisherman asked, "But señor, how long will this all take?" To which the businessman replied, "15-20 years." "But what then, señor?" The businessman laughed and said, "That's the best part! When the time is right you would announce an IPO and sell your company stock to the public and become very rich. You would make millions." "Millions, señor? Then what?" The businessman said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take a siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."

The fisherman, still smiling, looked up and said, "Isn't that what I'm doing right now?"


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Indeed, it's good to keep on coming back to this story every now and then to get grounded. [emoji4]

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[hinlog]

never ko naging basehan ang sasakyan kung mayaman ang isang tao o hinde

it just separates you from the commuting public but that's it

ang basehan ko is freedom

wealth buys freedom

yung hindi ka nakatali sa trabaho o business

a manager with a big salary doesn't have the freedom to fly out of the country anytime he gets bored

it's the guy who employs the manager who has that kind of freedom

ordinary folks have to wait for long weekends or public holidays to go on holiday

rich people don't have that constraint

I read before, you are rich if you can sustain your present lifestyle even without having a job.

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[jut703]

never ko naging basehan ang sasakyan kung mayaman ang isang tao o hinde

it just separates you from the commuting public but that's it

ang basehan ko is freedom

wealth buys freedom

yung hindi ka nakatali sa trabaho o business

a manager with a big salary doesn't have the freedom to fly out of the country anytime he gets bored

it's the guy who employs the manager who has that kind of freedom

ordinary folks have to wait for long weekends or public holidays to go on holiday

rich people don't have that constraint

Iyan ang masarap. Kaya lamang talaga mga negosyante vs empleyado. Plus the fact that the successful businessmen (those that survive off their passive income) were able to beat the odds and make it big despite the very high mortality rate of businesses, kaya nakakabilib talaga. ☺

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[n_spinner06]

Di ba dapat instead of household income per se dapat per capita? Wouldnt a couple without children earning 150k monthly vs a family of 5 with the same income land them on different socioeconomic classes?

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[EQAddict]

Polling is a science. Even the biggest liars in the world (politicians) believe in polls and are influenced by it. And yes, even our politicians listen very carefully to our SWS ans other surveys.At the very minimim, they are statistically signficant and represent what is close to the true picture.

It will be very premature and dangerous to dismiss surveys and the science behind them out of hand.






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[c_cube]

Tama si uls, yun freedom ang masarap at hindi nakatali sa trabaho o negosyo, pero minsan yata hindi applicable sa Fam biz yun ganyan. Bawal magbakasyon ng sabay sabay, laging may naiiwan. Tulad namin, December lang nakakaalis ng buo pero kapag ibang months, kanya kanyang diskarte sa layas

Yan ultimate dream ko, makapagretire ng maaga at sa passive income nalang umasa para mabuhay at magtravel.

Sa panahon ngaykn, mga magkano ba dapat ang passive income to live comfortably and may konting luho like travel and shopping? Wag na isama ang exotic cars haha

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[jut703]

Sa panahon ngaykn, mga magkano ba dapat ang passive income to live comfortably and may konting luho like travel and shopping? Wag na isama ang exotic cars haha

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Depende kung ilan anak at asawa. [emoji23]


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[c_cube]

Depende kung ilan anak at asawa. [emoji23]


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Lets say a family of 4 or 5.

500k na passive ba sobra o sakto lang? Given na may sarili ng bahay at wala naman binabayaran na utang. Kapag iniisip ko kasi ang deadly ang pagpapaaral eh lalo na kung sa private school.

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[dreamur]

Lets say a family of 4 or 5.

500k na passive ba sobra o sakto lang? Given na may sarili ng bahay at wala naman binabayaran na utang. Kapag iniisip ko kasi ang deadly ang pagpapaaral eh lalo na kung sa private school.

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500k/month should be more than enough.

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[uls]

Tama si uls, yun freedom ang masarap at hindi nakatali sa trabaho o negosyo, pero minsan yata hindi applicable sa Fam biz yun ganyan. Bawal magbakasyon ng sabay sabay, laging may naiiwan. Tulad namin, December lang nakakaalis ng buo pero kapag ibang months, kanya kanyang diskarte sa layas

Yan ultimate dream ko, makapagretire ng maaga at sa passive income nalang umasa para mabuhay at magtravel.

Sa panahon ngaykn, mga magkano ba dapat ang passive income to live comfortably and may konting luho like travel and shopping? Wag na isama ang exotic cars haha

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kung family business ng parents na senior citizen

mga senior lang pwede lumayas anytime

kaya sila nag train ng mga anak maging manager

para malaya sila makalakwacha hehe

mautak mga yan

planado nila from the beginning haha