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Its the poor and the sandwiches that have a lot of anger due to our FT policy. |
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Maybe you are one of those who are "extremely happy" with the "pressure-cooker society where foreigners come first", but you definitely aren't the majority. The reason is simple: if the majority is happy, PM Lee wouldn't have apologized and ministerial salaries wouldn't be reviewed. Or maybe not... cos many policies still suck big time and they are already raising transport fares! I better get out of this "pressure-cooker society where foreigners come first". Can someone start a thread to discuss emigration strategies? |
Emigration! That's a joke. With unemployment at 10% in western countries, where would you go? That's why everyone is trying to come here.
The poor are quite happy with the Government handouts and the rich are happy of course with all the new restaurants, facilities etc which have opened up. The only unhappy lot are the netizens who are generally middle class sandwich types and they are clearly the minority. That's why online comments and polls are complete nonsense. Having said that, the post 2-child policy group is about to become middle class so the Government is starting to address their needs. However, the current vocal netizens are going to now become "old" and will continue to be ignored. |
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common man
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And no, I have no desire to get that S350 benz. Driving conditions in Singapore does not merit such a car. Our main pre-occupation now is how to preserve the nest egg in the light of uncertainties in the world economy and the ever increasing inflation. |
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That said, I'm keeping cash, as Singdollar is pretty strong. Those who harp on cash getting devalued are not thinking with their brains - it's the USD and Euro that are getting devalued. Keeping cash in strong currencies like Singdollar is perfectly fine. But I am mortal, so I may be wrong. You mileage may vary. |
My Age 36
Wife Age 36 total income 600K Property value 4.2M Outstanding Loan 2.9M Cash 1.1M COF 0.5M (inclusive Medisave and special account) Net worth ?? Aim to be debt free ( Cash > Debt ) in 3 years time |
Rat, you're earning a lot of money, but your financial planning is suspect. You should be trying to build some passive income. Just by staying in your $4.2m house, you are effectively spending $10-12K/month, which is the rental income lost. Meanwhile your $1.1m in cash is earning almost no interest.
My suggestion. Don't aim to be debt free. Use the cash to buy an investment property and take up more debt. Housing loans are under 1% now... |
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