Singapore has an open economy which is dependent on trade. So when the world is not doing well, Singapore's outlook is also poor.
Eg China reducing interest rates to boost economy, reduced growth targets. Europe slowdown and the Greece debt. Japan still fighting to stay out of deflation. US also not doing well.
You can also see the market outlook is negative when stocks go down coz people are scared.
All these factors will affect the job market. You can also ask your friends who just graduated and are looking for jobs, and those who are looking to switch jobs. Job market is weak.
I think already not so good this year already. This morning dropped a customer in a high-class condo and saw 4 non-limo taxis parked there in the estate not including unknown numbers of Grabcar and Uber drivers. There should be more such vehicles there next year.
You cannot blame the hospital when loved ones go in. If the problem is incurable - u got to do the right thing, deny treatment and send the sick loved one to their final destination. This is called love. Prolonging suffering by feeding a brain dead parallelized spouse or worse - an only child - is the most cruel thing u can do. Remember its the sick who are in pain. Not the one who is visiting them on the death bed.
So when people go bankrupt due to hospital treatment, its due to a common inability to staying rational, and not wanting a loved one to go. Unless u r a vvip like LHL, I would say just smile, cut the medication and hasten the final journey back to nothingness.
Originally posted by bowah:The problem here is, most people are very prudent in their financial issue and approach, however, most are make to be in debts by laws which our govt are an expert in it, you buy a decent HDB only, you are in debts, you or yr loveones go hospital only, you are in debts, and like taxis drivers, before you drive, you are in debt with the rent already.
Therefore, most of us are alway in debts, and that is how our govt what it to be, you be in debt, so you hv to slog thru your life, and that allow the economy and banks to move, to create more debt by increasing this and that…therefore, never underestimate debt, it is a one of the anicent method of slavery.
Housing is a good debt. Get it when you are still young so you can settle it when you are not so old. And when your flat are left with afew years left for full settlement, if you can pay it all with your CPF, do it. You save on the interest.
When you need to pay something to earn a living, that is a necessity its not a debt.
No need car if you find that is eating up your monthly income and Singapore land transport is already there for you to travel within the country. No need cable television. No need Computer. No need home telephone line. When its under usage. You can get all those within your smart phone. And if your smart phone is also under usage and you are only using it to play games/watch videos/social medias etc, then you don't need them. Get the basic mobile phone is good enough. You can always go to the cybercafes or public libraries to go into the internet.
Getting sick and going to the clinics or hospital, its your part to keep yourself healthy. Place Health as your first priority, second is your family. I know nobody can predict when they are going to get sick or get hurt, but prevention is better then cure.
There are many other things you can cut...its up to you how you do it.
What I'm going to say here is easier said then done. Get out from the system. Most are being brainwash or program to do what the government wants them to do. This happens in all countries. Go against the flow. The crowd go one direction, you go against their direction quietly and safely. Get yourself out from the circle. Step outside, you see clearer and you have more freedom. I let you figure it out and see how you can do that. You need to really think hard and deep to see it for yourself. The easiest way is to see yourself like a company.
Originally posted by f1taxidriver:So when people go bankrupt due to hospital treatment, its due to a common inability to staying rational, and not wanting a loved one to go. Unless u r a vvip like LHL, I would say just smile, cut the medication and hasten the final journey back to nothingness.
There is a doctor and patient confidente relationship. As a patient you can always tell the doctor personally and quietly to let you go peacefully. But the doctor must keep it as a secret and the patient must be prepared to endure whatever pain he is going to go through for his decision before he/she pass over.
That is the reason sometimes we see many old people corpses around Singapore. They just want to go because they feel it better for them to go then burdening their family further.
Originally posted by zulkifli mahmood:Housing is a good debt. Get it when you are still young so you can settle it when you are not so old. And when your flat are left with afew years left for full settlement, if you can pay it all with your CPF, do it. You save on the interest.
When you need to pay something to earn a living, that is a necessity its not a debt.
No need car if you find that is eating up your monthly income and Singapore land transport is already there for you to travel within the country. No need cable television. No need Computer. No need home telephone line. When its under usage. You can get all those within your smart phone. And if your smart phone is also under usage and you are only using it to play games/watch videos/social medias etc, then you don't need them. Get the basic mobile phone is good enough. You can always go to the cybercafes or public libraries to go into the internet.
Getting sick and going to the clinics or hospital, its your part to keep yourself healthy. Place Health as your first priority, second is your family. I know nobody can predict when they are going to get sick or get hurt, but prevention is better then cure.
There are many other things you can cut...its up to you how you do it.
What I'm going to say here is easier said then done. Get out from the system. Most are being brainwash or program to do what the government wants them to do. This happens in all countries. Go against the flow. The crowd go one direction, you go against their direction quietly and safely. Get yourself out from the circle. Step outside, you see clearer and you have more freedom. I let you figure it out and see how you can do that. You need to really think hard and deep to see it for yourself. The easiest way is to see yourself like a company.
Our government got many costs lah. If they sell HDB to you at $20K, or even double the costs, very very soon, we will have no HDB to stay.
The most expensive costs for our PAP, is not the minister salaries - its MINDEF, specifically ST Kinetics at jalan boon lay. Singapore designs and build our own war machines, all the way from molten steel to completed machine. Recently 3 types of classified mobile military vehicle were completed and MINDEF is actively marketing them to foreign militaries. Other than the engine and auto transmission which are modified from CAT and ZF, the rest are built locally, except tires. We all know how much it costs to make cars, yet Singapore, which does not manufacture cars, is able to design and build military vehicles from nothing. I have not touched on helicopters, jets, submarines, assault boats, ships, ammunition, light arms, heavy arms, artillery, etc.
Do you have any clue how much Ah Gong need to cough out every year?
Originally posted by bowah:
Debt is never a good one, in are in debt because you cannot pay the full loan or you feel that you need cash in hand and wanted to spread out the debt payment over the years, that is why govt coming out with a debt and buying ratio criteria to cool the market. CPF is still your money, why should you be paying an expensive HDB flat of approx 400k when it cost of building is only 20k.
Originally posted by zulkifli mahmood:
I feel sorry for the younger generation of Singaporeans. In 1987, a 4S Room HDB flat only cost about $44,500 for a 25 year loan directly with HDB.
The prices of HDB flats right now in non-mature estate is approximately as follows after subsidies:
2-rm flat: $13000.
3-rm flat: $120,000.
4-rm flat: $210,000
5-rm flat $310,000
However, I feel that they are still affordable.
If we use ITE grad's starting salary of $1600 per month as example, he or she would earn $19200 per year. However he would receive normally at least 13th month salary and 17% additional CPF contribution from employer. So effectively he would be earning additional $3264+$1600=$24064 per year. The tax rates for these lower salary earners would be closed to zero. If he works for the government, then he would earn even more since they receive 3 months bonuses every year.
If he or she saves half of this amount, he would be saving $12000 per year.
So if his partner also saves half, they would save $24,000 per year.
Assuming the girl started working at the age of 19 and the guy at the age of 21, before the age of 30, they would be able to pay off a 4-rm flat without even taking a loan.
However if they die die must live in a mature estate where prices of 4-rm flats would go for about half a million or so stupid to buy a resale flat (whereby the ex-owner would profit at least $150,000), then definitely they have to strugggle for 25 years.
Contrary to what the foreigner media published, Singapore does not seem like the most expensive city in the world since (ordinary not isolated example) less educated people can fully own a home before the age of 30 if they have the discipline to save at least additional 13% on top of 37% CPF contributions.
However my calculations are assuming HDB flat prices do not increase faster than wage increase and DBS/UOB/OCBC and CPF interest rates.
Originally posted by Neutral-Thinker:The prices of HDB flats right now in non-mature estate is approximately as follows after subsidies:
2-rm flat: $13000.
3-rm flat: $120,000.
4-rm flat: $210,000
5-rm flat $310,000
However, I feel that they are still affordable.
If we use ITE grad's starting salary of $1600 per month as example, he or she would earn $19200 per year. However he would receive normally at least 13th month salary and 17% additional CPF contribution from employer. So effectively he would be earning additional $3264+$1600=$24064 per year. The tax rates for these lower salary earners would be closed to zero. If he works for the government, then he would earn even more since they receive 3 months bonuses every year.
If he or she saves half of this amount, he would be saving $12000 per year.
So if his partner also saves half, they would save $24,000 per year.
Assuming the girl started working at the age of 19 and the guy at the age of 21, before the age of 30, they would be able to pay off a 4-rm flat without even taking a loan.
However if they die die must live in a mature estate where prices of 4-rm flats would go for about half a million or so stupid to buy a resale flat (whereby the ex-owner would profit at least $150,000), then definitely they have to strugggle for 25 years.
Contrary to what the foreigner media published, Singapore does not seem like the most expensive city in the world since (ordinary not isolated example) less educated people can fully own a home before the age of 30 if they have the discipline to save at least additional 13% on top of 37% CPF contributions.
However my calculations are assuming HDB flat prices do not increase faster than wage increase and DBS/UOB/OCBC and CPF interest rates.
"Assuming the girl started working at the age of 19 and the guy at the age of 21, before the age of 30, they would be able to pay off a 4-rm flat without even taking a loan."
In Singapore, majority of them are still studying at that age. They only know is study, study, and study hoping for a degree. They live within their parent comfort zone for shelter and financing. So when are they going to start work and earn a living for themselves, support their family and themselves? I'm not against them pursuing their academic achievements and by the time they start work, their age are around 24 or 25 or 26 and even more than that age...nearly 30 year old. And they don't have enough CPF to pay for their downpayment to get a HDB flat and their parents have to pay for their downpayment. And by the time they settle their housing payment their age is nearly 60 year or even more than that...until they retire I guess.
"Contrary to what the foreigner media published, Singapore does not seem like the most expensive city in the world since (ordinary not isolated example) less educated people can fully own a home before the age of 30 if they have the discipline to save at least additional 13% on top of 37% CPF contributions."
Not only own a flat and save for their future, but they are owning Large Enterprises within Singapore and abroad without a degree. So these people are more gutsy with characters of huat huat huat...chong chong chong..charge! And they employ employees with degrees now or less than that.
Let me tell you a story.
A man owns a burger stall and was doing very well for decades. He sends his son up to the university to gain academic achievements. So one day, he got old and his business still doing very well. Then one day his son came back home and said to his father, "Why are you still selling. Business is not good now. Our country economy is facing a recession/depression now. Every businessmen/businesses are getting bankrupt. You should close your business before its too late." So he closes his burger stall on that day itself. The next day, a customer asked him,"Why you close your business?" His replied,"My son told me that there is a recession/depression now. I should shutdown my business before its too late."
Originally posted by f1taxidriver:Our government got many costs lah. If they sell HDB to you at $20K, or even double the costs, very very soon, we will have no HDB to stay.
The most expensive costs for our PAP, is not the minister salaries - its MINDEF, specifically ST Kinetics at jalan boon lay. Singapore designs and build our own war machines, all the way from molten steel to completed machine. Recently 3 types of classified mobile military vehicle were completed and MINDEF is actively marketing them to foreign militaries. Other than the engine and auto transmission which are modified from CAT and ZF, the rest are built locally, except tires. We all know how much it costs to make cars, yet Singapore, which does not manufacture cars, is able to design and build military vehicles from nothing. I have not touched on helicopters, jets, submarines, assault boats, ships, ammunition, light arms, heavy arms, artillery, etc.
Do you have any clue how much Ah Gong need to cough out every year?
I think in 2014 was S$12 billion for defense budget and last year I'm not sure.
Learned from the Israelis and U.S. Its cheaper to innovate weapons and manufactured it than to buy from other countries. Manufactured the small/light firearms for SAF and also sell it to other countries, not sure where but some of the U.S. Military units are using Singapore made weapons. The new Light Armoured Vehicles are manufactured for SAF and the outdated/second hand ones are sold to other countries. Most of the Heavy Weaponaries like Armoured Tanks/Mobile Artillery Tanks are bought from the U.S. Some are stationed overseas like in the U.S. and Australia for SAF training purposes usually for SAF live firing exercises/manoeuvres. During my time in the SAF, we artillerymen went to R.O.C. (Taiwan) and Australia for live firing exercises/manoeuvres.
To be honest, this SAF rigging outsourcing is something I was pondering for a while. I was wondering are our SAF commando officers crazy? No. Are they born and bred here? Of course. Do they love this country? Of course. Were they expecting outsourcing to improve things or make it worse? Of course to improve lah. If our parachute rigging increases fatality, whose head will be chopped?
So I believe this was a considered decision, and they must have seen these China professionals doing their job, and satisfied themselves that these chinese guys can do things equally well.
Think about it. As an artillery or infantry soldier, did you pack the gunpowder into the cartridge? No. Can you make better and more reliable ammunition than those from ST Kinetics, where the actual floor production crew could also be from china? Ammunition that is not made properly can result in chamber explosion, killing innocent people.
So back to parachute rigging. Is this an art that only singapore army knows? No. It is not a secret. Folding the parachute and the lines back into the bag is meticulous labor. Might as well outsource it and let our rangers and commandos focus on other aspects of their training.
Afterall when sent on a real mission, the parachute may be discarded in the drop zone, depending on the mission specifics.
Wau lau, bro F1, you quote as a general la, why quote commando officer?......
Loyalty is in our heart, don't need to spelt out......
When war breakout, commando will be the first to be inserted into enemy territory, in pair, in section.......
Only than we will know what's call loyalty.......
SAF need the whole organization to play a part and function well mah, so even 2 commando throw into war zone, 100km away from HQ, replenishment got to be done also mah, who care whether is a ah tiong who sent me items or ah neh who pack my parachute.......
Anyway, we leave no man behind, so please don't quote us, you want can quote as a whole SAF........
How many soldiers got chance to parachute? Only the elite soldiers. Dont tell me MT line, clerk, cook or MP also got chance to be airborne? So its not a general thing. This outsourcing of parachute rigging only concerns a small group of soldiers. Just like cookhouse job got outsourced to SFI during my time.
But yes, every outsourcing decision surely needed defense minister approval, so yes in that sense its the whole SAF. Whatever decisions they make, i am confident it was thought long and hard and its for the better.
Originally posted by zulkifli mahmood:"Assuming the girl started working at the age of 19 and the guy at the age of 21, before the age of 30, they would be able to pay off a 4-rm flat without even taking a loan."
In Singapore, majority of them are still studying at that age. They only know is study, study, and study hoping for a degree. They live within their parent comfort zone for shelter and financing. So when are they going to start work and earn a living for themselves, support their family and themselves? I'm not against them pursuing their academic achievements and by the time they start work, their age are around 24 or 25 or 26 and even more than that age...nearly 30 year old. And they don't have enough CPF to pay for their downpayment to get a HDB flat and their parents have to pay for their downpayment. And by the time they settle their housing payment their age is nearly 60 year or even more than that...until they retire I guess.
Remember I quoted the example of below average ITE couples....not degree holders.... degree holders would earn higher salaries after graduating if they can find a suitable job (actually double at $3200 per month).... so as long as they have the disciplines to save, there should be no problem.
$3200 x 12 = $38400 + $3200 + $6528 = $48128 minus $400 tax = $47728.
2 person save 50% so savings per year = $47728.
So only need to save for 5 years to buy 4-rm flat.
Guy graduate at the age of 24, lady graduate at the age of 22-23.
By the age of 29-30 can fully own a house if they appy for BTO at the age of 26-27.
To be honest, with a $3200/month job, assuming the spouse also earning the same, even if they cut down on wedding expenses, its going to be hard to save anything at all once u factor in the mortgage, utility bills, groceries every 3 days, renovation costs, pregnancy consultation, baby food, toys, clothing. If both working and parents cannot help, u still must hire a maid. Later the baby grow up, need to pay for nursery, piano classes, tuition, school bills.
Your costs keep going up as your family grows. It never gets cheaper. You as a parent must keep earning more and more.
If your wife decides you as a man should bring in the dough while she become a housewife, then u better be making more than $10K a month to keep your baby and mummy happy.
Originally posted by f1taxidriver:To be honest, with a $3200/month job, assuming the spouse also earning the same, even if they cut down on wedding expenses, its going to be hard to save anything at all once u factor in the mortgage, utility bills, groceries every 3 days, renovation costs, pregnancy consultation, baby food, toys, clothing. If both working and parents cannot help, u still must hire a maid. Later the baby grow up, need to pay for nursery, piano classes, tuition, school bills.
Your costs keep going up as your family grows. It never gets cheaper. You as a parent must keep earning more and more.
If your wife decides you as a man should bring in the dough while she become a housewife, then u better be making more than $10K a month to keep your baby and mummy happy.
What I was saying is you must have family planning.... save a lot before you marry.... after marriage burden not so much such that the wife can anytime stop work anytime to have a baby and take care of home without having to hire a maid. 5-6 years of two degrees holders savings at 50% rate could generate a lot of money .
How many people could earn 10K a month by the age of 30? Not many....but $3.2K a month to feed 2 adults and 1 baby possible or not? Sure possible one.
However if you go for matured-estate BTO, Condo or HDB resale, you would have to service your loan for a much longer time unless you earn very high salary.
Also there are optional money that need not be spent like piano and tuition. School fees are cheaper than nursery cost but only for two years only.... Mother can ownself teach kid so no need tutor.
Big expense renovation count it together with flat price. If not enough, work a few months extra before wife quit job to have a baby.
However, if the person and wife did not study hard enough to at least reach ITE level, then they would have to work very long hours to make ends meet (Security Guards and class-4 drivers could earn more than 2K per month).