Well I think those two are not mutually exclusive. IMO these numbers are low and there are a lot of family wealth.
Agreed. My boss actually makes less than me. Her husband was retired recently so letās say that income was double before but not to be counted now Yet the kids are going to London and Berne for Masters degrees, they live in a small apartment in Neihu, Rav 4 car.
Iāll never understand the obsession with driving a fancy car. Especially in Taiwan where no matter how carefully you drive somebody is going to dink your vehicle. Like the old lady who rode her scooter into my car a few days ago. I was in a parking space at the time.
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It is worse in 3rd world central America. Competing for the best 2nd hand USA off book gas guzzler, unsuitable for places where roads were made to accommodate a single oxcart. And of course, the same American disdain for public transport as a socialist idea, starting with torpedoing any mention of the dreaded word railroad.
Cars are status symbols and it does not matter what you have to do to get the right one, meaning whatever is in fashion. People who buy fancy cars are thinking face, and do not think about long term investment. I call it the basic compensation syndrome. I do not think I have to elaborate.
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Thereās plenty of information on the Chinese internet. For example, for TSMC: http://www.ursalary0.com/salaries/salary_view_tw/6528
This is total compensation package. Entry level engineer with a masterās is at job grade 31 and entry level engineer with a PhD is at job grade 33.
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Imo its also stupid because their fancy car goes from one stoplight to the next in the city in bumper to bumper traffic while all the cheap scooters whiz on by. Then they need to drive the fancy car around the block for 30 min to find a parking spot. I mean why bother. I see that and think 'im glad I donāt need to make the payments on that.
I donāt even see how it gives face unless itās for your neighbours. I donāt know them so why should I care what car youāre driving.
Plus as you said easy to get dinged
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No car, no chicks. At least in very young, localized mentality. That is shown in movies and repeated in soap operas and then the young ones regurgitate it. It used to be the bride to be would demand a hosue to her name if the guy wanted to marry her. Now she wonĀ“t go out with him unless he has a car. A car is a symbol of status, of we can go places. Sure, anyone can take a trip to London or Paris, but only a select few can get that Lambo. 
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Your circle sounds toxic. No one I know thinks this way. No one I know cares about cars like at all.
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Maybe they are more mature. I remember my colege aged ex roomates already had this ideas, and I have told you guys about the stuff the kiddies at the office say. they are becoming slaves to the brands. Apple! iPhoney!
Younger generations, in most countries, are caring about cars less and less than their parents did.
A friend, who makes very, very decent money, (as does his wife), confided in me that they will never be able to stop working because he has another 30 years to pay off his apartment, both of them drive name brand cars and he has to do āstupidā (in his words) things like go out playing golf. He worries that when his kids get older he wonāt be able to afford to send them to private schools or abroad and his colleagues and family will look down on him.
I said that he could downsize but he feels he needs the lifestyle to have the high-paying job that he needsā¦to afford the lifestyle. Itās like a damn George Carlin routine.
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Yeah probably. Idk why I know all the normal Taiwanese ppl whereas you guys seem to know so many wackjobs.
Maybe because you are abroad and we are here? 
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The ones I know are all still home and Iām going back soon.
Are you sure you donāt live in Africa or something? Virtually all Taiwanese can afford an iphone. How can it be a status symbol when everyone can have it?
I have seen Taiwanese go nuts for expensive stuff but a phone isnt expensive enough for anyone to care.
If you are an engineer and can afford an iPhoney, fine, but if you are a singel mother in the market selling newspapers you better think priorities. 20ker and iPhoney? Dubious choice indeed.
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Some Filipino guy bought my iPhone second hand for 8k I think . I thought he was nuts but he looked happy.
I presume your friend just bought the place as heās got 30 years left on his mortgage, and maximum mortgage in tw is 30 years.
But anyway, the mortgage shouldnāt deter him from stop working. A lot of retirees have mortgages, the trick is to save up some other assets you can use to pay off the monthly mortgage. Also, if he wishes, he can renegotiate with the bank to get a shorter mortgage, although that doesnāt make sense as the interest rate is quite low. It would probably make more sense for your friend to keep the mortgage and invest any spare cash in equities
Also, Iām a bit confused, your friend is how old? Heās only expecting to live for another 30 years ?
iPhone has a pretty high market share in Taiwan and many ppl working shit jobs have them. Probably not single mothers selling newspapers (btw are there even ppl selling newspapers on the streets now?) but itās definitely very common even amongst those who arenāt particularly rich. Itās easy to pay very little money for a new phone when you renew the contract.
Many ppl in Taiwan think working till 60 = working forever.
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Is that what @Terry_Bis saying, that his friend is complaining because he has to work until heās 60? In most of the west the retirement age is above that, 65 or so. What is it in taiwan?
Im pretty sure my parents in law in tw also worked until they were 65 or so.
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