Retrenchment In Singapore

[Retrench SG]

Originally Posted by Unregistered

All those people here who say until retrenchment is very easy and just find another job are obviously trolls who never get retrenched before.

Go to Support Site for The Unemployed & Underemployed|Support Site for The Unemployed & Underemployed and read up more about what it means to be retrenched. The greedy companies and shareholders is screwing us left right centre and some here still say we are not suppose to sound angry negative and continue smiling to get screwed more.

The company exploit staff and betray them at the end and they are suppose to be positive and move on. SMLJ logic is that?

Isnt that what this thread is about? Sharing of opinions and advices

Originally Posted by Retrench SG

I made judgement against other ppl? Did you even take a good look at the threads? FYI did you ever see me judging those ppl who shared their views. I only ask them not to continue their name calling coz ppl are just sharing their views and we should appreciate it.

Oh now suddenly u say ppl have families to feed, parents to care for blah blah blah and huge blow and my god suddenly u change tone and trying to b an angel here and pushing the blame onto me saying that i made judgement on them and continue with your so called name calling that I am a 16 year old and wake up my idea while u sound like u r trying to sympatize with those who r retrenched b4?

Wow u sure sounds brilliant when it comes to the blaming strategy. Anyway I got nothing more to add coz it sure looks disappointing from the way things r going...

Anyway time for me to stop commenting so much since there a lot of trolls here which r out to destroy whatever they see get into their way or just create disturbance for the sake of fun.

Lastly for those interested in discussing more retrenchment issues, again pls google retrenchment in singapore. The website is triple w(dot)retrenchmentinsingapore(dot)sg

FYI, take a good look at some of the name calling ppl post in here
"u dun talk big act lao jiao lah."
"elitist ashole. retrench b4 big faik har"

"Wow you sounds negative" - does this seem familiar to you? If not judgemental, what do you call this.

Hey kid stop already. I know it's school holiday. Do something useful

I am the one who has been retrenched twice before and posted my views on the dangers of spiraling into a negative feedback session with all that blaming on others, I am not surprised at the virulent feedback I’m getting from some people here whom I assume have been retrenched. In the past I used to comment in transitioning.org as well with the same forthrightness and telling the letter writers to up their socks and stop bitching about the government and their ex-bosses.

After a few rounds of the same pounding I got from the administrator and visitors from that site, I have stopped contributing as I realize Gilbert Goh (site owner) is more interested in flaming anger for personal political advancement while the rest of the visitors were simply there to reaffirm each other’s negative views on the government, FT and their ex-companies.

@Retrench SG: I suggest you just abandon this thread, it’s going down the road as all the other posts in transitioning.org and not productive at all.

I got retrenched in 2009 during the crisis. Instead of bitching, I took action which many then said I was stupid. I bought an investment condo! Our primary residence, a HDB flat which we bought many years ago is fully paid up. I used my cash and CPF savings and retrenchment benefits to buy a condo which was selling at distressed price. I paid in full. I was able to generate a net rental income of $40k a year, which was a third of my salary before my retrenchment. Combined with my wife's income of $100k then, we are able to survive. It was good that we had always been prudent and our annual spendings have always been half of our combined annual income. I am now retired and managed to cut our spendings further by downgrading to a smaller car and terminating the maid's contract. My investment condo have now doubled in value and my rentals have increased to $60k a year. I am now a retired millionaire. Our family income is now about $180k pa, slightly lower than the $220k pa before I got retrenched, but my net worth has increased by $600k. Our annual savings is now about $50k pa.

[Retrench SG]

Originally Posted by Unregistered

I am the one who has been retrenched twice before and posted my views on the dangers of spiraling into a negative feedback session with all that blaming on others, I am not surprised at the virulent feedback I’m getting from some people here whom I assume have been retrenched. In the past I used to comment in transitioning.org as well with the same forthrightness and telling the letter writers to up their socks and stop bitching about the government and their ex-bosses.

After a few rounds of the same pounding I got from the administrator and visitors from that site, I have stopped contributing as I realize Gilbert Goh (site owner) is more interested in flaming anger for personal political advancement while the rest of the visitors were simply there to reaffirm each other’s negative views on the government, FT and their ex-companies.

@Retrench SG: I suggest you just abandon this thread, it’s going down the road as all the other posts in transitioning.org and not productive at all.

Hi thanks for your support, you can visit my forum at triple w(dot)retrenchmentsingapore(dot)sg

Originally Posted by Unregistered

I got retrenched in 2009 during the crisis. Instead of bitching, I took action which many then said I was stupid. I bought an investment condo! Our primary residence, a HDB flat which we bought many years ago is fully paid up. I used my cash and CPF savings and retrenchment benefits to buy a condo which was selling at distressed price. I paid in full. I was able to generate a net rental income of $40k a year, which was a third of my salary before my retrenchment. Combined with my wife's income of $100k then, we are able to survive. It was good that we had always been prudent and our annual spendings have always been half of our combined annual income. I am now retired and managed to cut our spendings further by downgrading to a smaller car and terminating the maid's contract. My investment condo have now doubled in value and my rentals have increased to $60k a year. I am now a retired millionaire. Our family income is now about $180k pa, slightly lower than the $220k pa before I got retrenched, but my net worth has increased by $600k. Our annual savings is now about $50k pa.

This is first class BS story at its best. If this condo can really generate $40k net rent like you say, using generous capitalization rates during 2009 it will easily cost you $1.2m

If you really have $1.2million cash sitting around doing nothing to pay off the whole condo at one go, you were already a millionaire in 2009. Retrenchment or not doesn't really mean anything. And what sort of condo did you buy in 2009 that can double in less than 4 years? This is >20% compunded growth in capital value, more than twice that of the average private home appreciation nation wide.

So I guess the purpose of this whole thread is for retrenched / unemployed people to share "positive" phantasies about living a fun life in Krabi or becoming a multi-millionaire property tycoon?

Want to run away still dare to talk big. Gilbert is a hero who able to organize biggest strike in sg to fight against the fts and companies exploitation, better than u just know how to hide in the internet and insult others.

Originally Posted by Unregistered

I am the one who has been retrenched twice before and posted my views on the dangers of spiraling into a negative feedback session with all that blaming on others, I am not surprised at the virulent feedback I’m getting from some people here whom I assume have been retrenched. In the past I used to comment in transitioning.org as well with the same forthrightness and telling the letter writers to up their socks and stop bitching about the government and their ex-bosses.

After a few rounds of the same pounding I got from the administrator and visitors from that site, I have stopped contributing as I realize Gilbert Goh (site owner) is more interested in flaming anger for personal political advancement while the rest of the visitors were simply there to reaffirm each other’s negative views on the government, FT and their ex-companies.

@Retrench SG: I suggest you just abandon this thread, it’s going down the road as all the other posts in transitioning.org and not productive at all.

Originally Posted by Unregistered

This is first class BS story at its best. If this condo can really generate $40k net rent like you say, using generous capitalization rates during 2009 it will easily cost you $1.2m

If you really have $1.2million cash sitting around doing nothing to pay off the whole condo at one go, you were already a millionaire in 2009. Retrenchment or not doesn't really mean anything. And what sort of condo did you buy in 2009 that can double in less than 4 years? This is >20% compunded growth in capital value, more than twice that of the average private home appreciation nation wide.

So I guess the purpose of this whole thread is for retrenched / unemployed people to share "positive" phantasies about living a fun life in Krabi or becoming a multi-millionaire property tycoon?

It is obvious that you know nothing about the property market. Based on your $1.2m figure, you are implying a rental yield of 3.3%. My yield is much, much higher than that. Like I said it was sold at a depressed price, by someone who was holding too many properties and need to let go urgently for cash flow. If you don't know about property investing, pls don't open your mouth. You sound like a fool.

eh mai kaopei la. retrench retrench la. just find another jobs. dont listen to the f--king BS fantasies people are making up here. dong shan zai qi become millionaire, so f--king free come forum talk cock.

My sincere condolences for those who got retrenched. But all is not lost. It is natural to feel sad, angry, useless, etc. but you have to get over it fast. Here are some ways to cope with your retrenchment.

1. Take stock of all your assets and liabilities. Identify appreciating and income generating assets and those that depreciates in value and non income generating.

2. List down your income sources and your expenditures.

3. With the above information in hand, list down expenditures that can be cut immediately. Good items to cut - maid's services, car, cable TV.

4. For income sources, your emergency savings will come in handy. This assumes you have savings of at least 6 months of household expenditures. With the cut in expenditures in (3), your savings can last for at least 8 months.

5. Do you still have mortgage to pay? If you do, how much CPF savings do you have in your OA for you to finance your mortgage? If you have an amount that can pay for 2 years, then this buys you time.

6. Searching for replacement income. Are you the sole breadwinner? If you are, how confident are you to get a replacement job? Usually, it is difficult to get reemployed fast, especially if you are above 40 (HR managers reading this, please wake up - don't discriminate against older workers!), so expect yourself to be reemployed at a lower wage. If your job search is taking too long, be prepared to drive a taxi, possibly earning you $2.5k a month.

7. Assuming your income is $2.5k a month, ask yourself whether this is sustainable for your family expenses. If not, what can you do? One way is to rent out your HDB flat and get $3k a month in net rental (assuming you would have paid off your your mortgage when you bought your BTO very cheaply 20 years ago) and live in JB. Just rent a house in JB. You can then continue to work as a taxi driver, which allows you to ferry your kids to school in Singapore (move them to a Woodlands school). Your rent in JB is only RM2000 a month for a decent (not luxurious) terrace house. So your income is now $5.5k and your rental in about $800 per month. So you have about $3k plus for living expenses in JB, which is manageable given the cheap groceries and utilities there.

8. Alternatively, you can downgrade from your 5 room HDB flat to a 3 room HDB flat, hence you can pay off the mortgage loan if you have any. If not, you have spare cash which you can invest to generate some cash (eg a portfolio of 5% dividend yield stocks). Or you could just keep it for any urgent unplanned expenses. Another way is to rent out one of your room, say for $600 per month. So your income is now $3.1k.

These are just some ideas.