How's your career?

[ChokBoon]

My company not doing well. My team worked very hard but margins are poor and competitors in China are selling finished products below the cost of raw materials. I am not exaggerating. They just need to grow revenue, suppliers and banks will extend credit, until they close down, then another similar company will emerge somewhere in China.

I feel very lost, I am in 40s, when I look at my friends who are teachers and read the articles about SAF best units today, I feel so envious because they are in a more secured job than me by these age. It's a risk that I faced for choosing a private sector job.

It is not that I didn't plan for my life, my family only went for tours twice in the past decade, I didn't indulge in luxuries, just a weekly family fine-out. I got some savings and non-profitable investments, enough to see my kids through tertiary education even if I am jobless, but nothing left for myself thereafter.

Sooner or later, I will be retrenched. I tried looking for other jobs but given the same experience-level in marketing, companies seek youth and beautiful people because they make the company look good. My remaining realistic job options require a real career switch, likely below $2800 a month in F&B, security, healthcare, transport, etc.

Finally when I look around me, I feel that this is the path that many are going through. What does the future hold for my kids?

 

[nin-nao-hiah]

Who did you vote for?

 

[Scrooball (clone)]

Good thing is you have sufficient funds to finance your kids education. And once they have graduated, your burden won't be so heavy.

 

[ChokBoon]

Who did you vote for?

I voted for Workers Party.
You mean, i should be a spineless civil servant and vote for PAP?

 

[no_faith]

I always say get rich or die trying
You wont have these problems

 

[ChokBoon]

Good thing is you have sufficient funds to finance your kids education. And once they have graduated, your burden won't be so heavy.

Thanks brother.
Ya, that's the consolation for my conservative approach.
But this is Singapore, education and health issues will wipe out your savings.

I just find it hard to swallow that I have little left after years of working.

 

[ChokBoon]

I always say get rich or die trying
You wont have these problems

I know but
If you got kids and elders to support, you will not dare to die trying.

 

[no_faith]

I know but
If you got kids and elders to support, you will not dare to die trying.

You tried in earlier period of your work life?

 

[ChokBoon]

Most people will go through the same vicious cycle like me, there is no social security to talk about.
What kind of future does our kids have

 

[ChokBoon]

You tried in earlier period of your work life?

I did but let me tell you that career progression is not perpetual.

 

[Scrooball (clone)]

Thanks brother.
Ya, that's the consolation for my conservative approach.
But this is Singapore, education and health issues will wipe out your savings.

I just find it hard to swallow that I have little left after years of working.

The way i see it, kids are your best investment now. Just pray they don't turn out to be spoilt brats who waste their time away at clubs, ask u for money etc.

On the income side, try renting out a room. Sure, u lose some privacy, but that's an easy $700 per month (assuming u stay in a flat) if u rent out to a couple. Now that u have this passive income, u need to work on other streams. Current job seems deadend. Not sure what industry u are in. But some industries are plain dead like a fax machine.

U can consider teaching. This is for mid career change professionals.

https://www.moe.gov.sg/careers/teach/how-to-apply/teaching-schemes/mid-career-professionals

 

[no_faith]

I did but let me tell you that career progression is not perpetual.

Start now finding other income sources.
Your wife working?
Get ur kids to be independant work and study.

 

[ChokBoon]

The way i see it, kids are your best investment now. Just pray they don't turn out to be spoilt brats who waste their time away at clubs, ask u for money etc.

On the income side, try renting out a room. Sure, u lose some privacy, but that's an easy $700 per month (assuming u stay in a flat) if u rent out to a couple. Now that u have this passive income, u need to work on other streams. Current job seems deadend. Not sure what industry u are in. But some industries are plain dead like a fax machine.

U can consider teaching. This is for mid career change professionals.

https://www.moe.gov.sg/careers/teach/how-to-apply/teaching-schemes/mid-career-professionals

Thank you brother.

 

[ChokBoon]

Start now finding other income sources.
Your wife working?
Get ur kids to be independant work and study.

Thanks, I hope they don't need to work during studies. Giving tuition perhaps.

 

[no_faith]

Always self independant in every aspects.
You wont need to bow begging for help.

 

[ChokBoon]

Always self independant in every aspects.
You wont need to bow begging for help.

What is your job, towkay like @JohnTan?

 

[no_faith]

I coolie leh
I bow until numb liao now nothing can hurt me.

 

[Bad New Brown]

I believe that these days nobody anyhow change jobs even for a better salary. Most above 40 years old folks will stay on their current jobs even everything is stagnant.

If you are having a stable income now although lower than market rate salary, it’s not advisable to take risk to change job.

Changing jobs involved a great risk in these decade

 

[sweetiepie]

My company not doing well. My team worked very hard but margins are poor and competitors in China are selling finished products below the cost of raw materials. I am not exaggerating. They just need to grow revenue, suppliers and banks will extend credit, until they close down, then another similar company will emerge somewhere in China.

I feel very lost, I am in 40s, when I look at my friends who are teachers and read the articles about SAF best units today, I feel so envious because they are in a more secured job than me by these age. It's a risk that I faced for choosing a private sector job.

It is not that I didn't plan for my life, my family only went for tours twice in the past decade, I didn't indulge in luxuries, just a weekly family fine-out. I got some savings and non-profitable investments, enough to see my kids through tertiary education even if I am jobless, but nothing left for myself thereafter.

Sooner or later, I will be retrenched. I tried looking for other jobs but given the same experience-level in marketing, companies seek youth and beautiful people because they make the company look good. My remaining realistic job options require a real career switch, likely below $2800 a month in F&B, security, healthcare, transport, etc.

Finally when I look around me, I feel that this is the path that many are going through. What does the future hold for my kids?

KNN a career switch for the 40s in f&b or healthcare for 2.8k is way out. you should be looking at $800 to $1200 KNN

 

[ChokBoon]

KNN a career switch for the 40s in f&b or healthcare for 2.8k is way out. you should be looking at $800 to $1200 KNN

hahaha, true. I over-rated myself.