Singaporean worried he has no money for retirement after pay
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Originally posted by eagle:
You really think 2 hours a day for the extra work is a lot when it can match full time income? I still think many people work longer hours than me on a typical work day.
fwahhh.. really ah.. 2 hours for a full day income ?
Come share share leh.. what kind of work so xin nang ?
Then we can all do what you do , then like you.. we can all start building our "nest eggs" and not have to depend on our lazy gahmen to bail us out lor.
Lets all start building our wealth now brother ~!! Whats the secret ?
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Originally posted by jojobeach:
fwahhh.. really ah.. 2 hours for a full day income ?
Come share share leh.. what kind of work so xin nang ?
Then we can all do what you do , then like you.. we can all start building our "nest eggs" and not have to depend on our lazy gahmen to bail us out lor.
Lets all start building our wealth now brother ~!! Whats the secret ?
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Originally posted by baby hunter:
hai....seem like u r the only one who can get my point.....our gov must behave like superman...plan for our birth rate, plan for our employment, plan for housing, even hv to plan & ensure we must hv enough money for retirement....we can jus sit there wait for the fruit to drop....as many of singaporean are expacted!!!!
By your definition... how come other countries got supermen gov to do that for their citizens har ? And based on our SG definition of a deserving pay.. them foreign gov are grossly underpaid supermen/women leh.
If our gov don't plan for these things.. why we pay them so much for har ?
What is the true purpose of a gahmen leh ? I wonder and I ponder.
Don you think them should be earning their keeps instead of sit there and wait for their million lollar salary to drop onto their laps ?
U think all SGreans are suckers issit ?
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jojobeach, do u even think I'll share with you? Especially some of the strategies I used to magnify it is researched and read up? It's up to you to believe. :) And its fine if u choose not to believe as well.
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Another old 5-room resale HDB flat in Telok Blangah asking for nearly S$1 million dollars
Tell/teach me how to retire!
Once you sell and earn $.
1. cannot buy smaller flat - die die must buy the same of flat or bigger flat or private housing
unless proven that you had financial difficulities
2. gahmen park certain amt of your money in your wife and your cpf acct
why they scared you anyhow spend your $ in batam,etc
later, country had to "take care of you" - use tax payer money
unfair to tax payer
3. second time sell your flat, taxable also - if i am not wrong
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Originally posted by Annilator47:
i would like to agree with you on this but you must take into account the employment factor and salary factor here.
it is true to the above mentioned but like what the TS also mentioned, what happens when theres an economic downturn and suddenly you are cut off from your job? worst still with the PR competition getting more intense, can one gurantee that he/she will be earning the same amount like their last pay if they are reemployed?? truth is, it is yes to a very small number of people, some might earn maybe 2k or 3k to keep their house alive suddenly find that they are forced to take a job with half the amount, you cannot blame this on the lack of forsight since no one can really fully accurately predict what will happen to them in 3-10 years time since the time aand situation is constantly changing,same applies to the stockmarket, since it is also changing everyday,either going up or down.
theres a old quote that said" knowing the truth is not difficult but reacting to it is."
as for baby hunter, he's view is a sceneario where it is 1 sided based on the assumption that it all goes well, what happens if something happens inbetween that changes all of that after that event? this was not factored in and this is also what i am trying to point out as this would lead us back to the same sceneario where the TS has his worries about.
life cannt be predicted, but can plan for it. true it might dont come out as what we expected!! bt can we jus sit on it without doing anything???There's traffic accident everyday in every part of world. can we jus becos of worry & dont take any forms of transpot?? live still hv to go on....plan in advance!!
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Main cause of worry and stress.
If can save now, better save it for yourself.
Dont listen to govt saying must spend to revive the economy.
Save for yourself.
No money, nobody can help you.
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it's a myth to think the world revolves around the sentence: it's not much u earn but how much u save.
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Yes save save and save for yourself and your family.
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Originally posted by likeyou:
Yes save save and save for yourself and your family.
No, it's not only about saving...
One can save only 10% and still be much better off than another who saved 50%
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Originally posted by eagle:
No, it's not only about saving...
One can save only 10% and still be much better off than another who saved 50%
50% savings ? that person must be earning a lot.
Better off in the materialistic sense ? And risk becoming the next Ebenezer Scrooge ?
Sock away what you do not use.. but spend what you need to.
When everyone has to struggle to save even a penny, because all is spent on a roof over their head.. the clothes on their backs, the food in their stomachs, the medicines to stay alive....
then something in life is seriously wrong.
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Originally posted by jojobeach:
50% savings ? that person must be earning a lot.
Better off in the materialistic sense ? And risk becoming the next Ebenezer Scrooge ?
Sock away what you do not use.. but spend what you need to.
When everyone has to struggle to save even a penny, because all is spent on a roof over their head.. the clothes on their backs, the food in their stomachs, the medicines to stay alive....
then something in life is seriously wrong.
You caught the point in your first statement. But you destroy the meaning in the 2nd.
What's the point of making an extra effort on saving an extra $200+ per month when you can use the same amount of effort to earn an extra $2000 per month?
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Originally posted by jojobeach:
There's nothing wrong will letting the lease owner resell the leftover lease to other willing buyers.
Unfortunately, the Singapore resale market has defied economic logic.
HDB was never supposed to be an "asset".
But since everyone was making a huge fortune back then, the authorities simply let the circus go unchecked.
But can they do something about it now to rein in the problem ? Most certainly.
Who should the government piss off?
Those who can make a huge fortune or those who can't make a huge fortune form the HDB?
One way or the other you can't please everybody.
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Originally posted by eagle:
No, it's not only about saving...
One can save only 10% and still be much better off than another who saved 50%
10% also good.We need to save for raining days.
I have been saving and saving and then, shit, this increases that increases and my saving return to zero!
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Originally posted by likeyou:
10% also good.We need to save for raining days.
I have been saving and saving and then, shit, this increases that increases and my saving return to zero!
What I meant is, you need to increase your income some way or the other.
I'm only out in the workforce for 1.5 years, but I believe my savings can match those who were out for say... at least 3 to 5 years?
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Originally posted by eagle:
What I meant is, you need to increase your income some way or the other.
I'm only out in the workforce for 1.5 years, but I believe my savings can match those who were out for say... at least 3 to 5 years?
you cannot keep comparing yourself with other people you know ?
Not everyone is living the same life as you leh.
some people got family commitments, girlfriends, siblings to support, parents with medical debts ...help to pay off family mortgage... etc etc...
Success is subjective ok ?
If you tell me that you are able to do the same while you are supporting your parents, wife and children...then I agree you are indeed very good lah. OK? Good.
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Originally posted by eagle:
What I meant is, you need to increase your income some way or the other.
I'm only out in the workforce for 1.5 years, but I believe my savings can match those who were out for say... at least 3 to 5 years?
maybe u eat cai png everday daythats why can match?
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Originally posted by likeyou:
10% also good.We need to save for raining days.
I have been saving and saving and then, shit, this increases that increases and my saving return to zero!
tat's "inflation" my brother.
May I ask.. wats the point of keeping such a big saving when each dollar value keeps getting smaller and smaller over time?
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Originally posted by mancha:
should the government piss off?
Those who can make a huge fortune or those who can't make a huge fortune form the HDB?
One way or the other you can't please every't body.
Neither.
Bout time gov stop hawking HDB flat as an "asset" or an "easy" way to increase fortune at the expense of another fellow Singaporean.
Go back to the beginning of what HDB was really all about.
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Another old 5-room resale HDB flat in Telok Blangah asking for nearly S$1 million dollars
February 8, 2010
Three days ago, we put up an advertisement of a 5-room HDB flat in Marine Parade selling for an eye-popping S$990,000.
Now we have another 5-room flat in Telok Blangah asking for S$999,000, $9,000 more than the earlier flat:
From the photos above, the flat appears to be situated in an older part of Telok Blangah and is at least 30 years old which means that it has at most 60 – 70 years left on its lease since all HDB flats are 99-year old properties.
The exorbitant prices asked by some property agents is a sign that the red-hot public housing market has got completely out of control.
The prices of resale flats increased by 8.2 per cent in 2009 when Singapore was mired in recession with Cash-Over-Valuation (COVs) doubling from $12,000 to $24,000 in the last three months:
The sky-rocketing prices are fueled largely by limited number of flats built between the years 2006 – 2008 coupled with the large influx of foreigners into Singapore during the same period of time.
Only 3,183 new flats were built in 2008 when there were over 90,000 PRs and 20,000 new citizens in the same year:
[Source: HDB Financial Report 2008/2009]
The resale market is popped up artificially by PRs and new citizens. According to Mr Mohamad Ismail, CEO of real estate agency Propnex, about 20 per cent of the buyers of resale flats are PRs. ERA and C&H quote their figures at 40 and 50 per cent respectively.
Despite widespread concerns, worries and frustration among Singaporeans at the rising prices of HDB flats, the ruling party continues to insist that they are “affordable”.
Prime Minister Lee Hsien Loong said lately that there is nothing his administration can do to control the prices of resale flats as they are set between the buyer and the seller themselves.
HDB has promised to increase the supply of new flats, but they will not be ready until a few years later.
In the meantime, home buyers will have to put up with the astronomical prices asked for by sellers and agents.
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Originally posted by jojobeach:
you cannot keep comparing yourself with other people you know ?
Not everyone is living the same life as you leh.
some people got family commitments, girlfriends, siblings to support, parents with medical debts ...help to pay off family mortgage... etc etc...
Success is subjective ok ?
If you tell me that you are able to do the same while you are supporting your parents, wife and children...then I agree you are indeed very good lah. OK? Good.
You are indeed great to keep coming up with excuses
Keep up your great attitude to life!If I were to compare, I would compare with people in similar circumstances, not with people who have much much more committments than me (I don't even need to start elaborating about my committments). That would be too much of a loser mentality. Can't believe you can even come up with that. But what's the point? I don't need to compare; I just need to see people with similar attitudes like you can liao. Without your kind of "excuses" attitude proliferating, there wouldn't be society strata.
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Originally posted by noahnoah:
maybe u eat cai png everday daythats why can match?
I track my expenditures every month. Jan's expenditure on food is $600+.
Perhaps just that my hobbies are rather inexpensive? Well, it's me, and as long as I enjoy it. And I use the power of maths and percentages to my advantage, of which I'll not be elaborating as well. There's little point being penny wise pound foolish.
There's one thing which I realised I didn't have sufficiently for the last 1.5 years... That's insurance... Only had the basic company insurance, Medisave insurance... So I'm signing up for a term plan next month with one of the forumers here whom I talk more to...
I think about personal finance quite frequently as it's also my hobby... It's in my nature to just like to keep thinking...
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Originally posted by jojobeach:
Neither.
Bout time gov stop hawking HDB flat as an "asset" or an "easy" way to increase fortune at the expense of another fellow Singaporean.
Go back to the beginning of what HDB was really all about.
There will always be people whose money will always go south, the world can never be scarce of such people.
It will always be one group at the expense of the other.
I should live in a three room flat because some Singaporean cannot manage their money?
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I beg to object, cannot manage their money has it pros and cons, pros side being if they spent, the economy will move, on the cons side, if they just keep as FD in bank, the economy will come to a standstill.
On the other hand, the recent financial markets crisis had given a fear factor in people who wanted to invest, and seminar such as financial planing and managing your money well are just lectured by Bankers in hope of you putting your money in their funds or simply top up their losses so that they can answer to their shareholders.
And to some, earn also not enuf to eat, talk about financial planing to them, they will laugh until cry.
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Originally posted by angel7030:
I beg to object, cannot manage their money has it pros and cons, pros side being if they spent, the economy will move, on the cons side, if they just keep as FD in bank, the economy will come to a standstill.
On the other hand, the recent financial markets crisis had given a fear factor in people who wanted to invest, and seminar such as financial planing and managing your money well are just lectured by Bankers in hope of you putting your money in their funds or simply top up their losses so that they can answer to their shareholders.
And to some, earn also not enuf to eat, talk about financial planing to them, they will laugh until cry.
financial planing are just for you - full stop