Quote:
Originally Posted by Unregistered
And if building wealth is your concern, maybe you are not aware that many of the landed properties out there are actually owned by civil servants including many teachers!
At the end of the day, if you are capable, you will rise whether in the government service or outside. And if you are not capable better to secure a place in the government service. At least they do not sack you, at most you get stuck at a very low appointment.
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In the civil service if you are a farmer, even if you are a superstar performer the max you can hit is MX9 & that's like super rare. A MX9 is only paid 15 -22k, which is equivalent to just a mid level regional manager in a MNC. It is very misleading when you say "you will rise whether in the government service or outside". More like you will rise in government service as a top performer but a top performer outside will shoot to outerspace.
Back in those days when landed properties were going for $500k it is possible for teachers to buy them, but let's get real here - a decent landed property now goes for about $2.5M. 20% downpayment is already $500k which is already a super big struggle for a teacher to raise. The monthly 30y mortgage for a $2m loan at 2% will be nearly $7.5k, that is definitely not something that a teacher can now afford.