Spending more than what one earns – how young Singaporeans end up in debt

[Ash007]

You life insurance would be much more and not worthwhile I imagine for you.

If you're very wealthy, you don't need insurance.

 

[Leongsam]

You life insurance would be much more and not worthwhile I imagine for you.

95% of my income now is investment income. It would continue whether I'm dead or alive so life insurance isn't necessary.

 

[Ash007]

That's what I meant, but you are not rich enough such that you still need insurance for you car, house, medical, etc.

95% of my income now is investment income. It would continue whether I'm dead or alive so life insurance isn't necessary.

 

[Leongsam]

That's what I meant, but you are not rich enough such that you still need insurance for you car, house, medical, etc.

No I'm not. If I had another $10 million, I wouldn't bother with insurance but I'm not there yet.

 

[Ash007]

I see, $10 mil in the bank then ?

No I'm not. If I had another $10 million, I wouldn't bother with insurance but I'm not there yet.

 

[Leongsam]

I see, $10 mil in the bank then ?

Anything that's reasonably liquid.

 

[Fishypie]

BLame it on the Parents of the Gen Y.These kids have aLL the goodies' pre-arranged for them, even before they are out into the reaL worLd to earn the hard monies.Luxury items Like cars etcc are contributed for by the parents.
i know of a friend who rides a bike to work now, so that his Uni-boy can have the Luxury to drive dad's car to uni
and for other chiong stuffs as weLL.Dad even have to pay for the son's petroL $.These spoiLt brats wouLd not know
or care how hard his parents are struggLing, in order to make the boy Look great infront of his peers..

 

[streetsmart73]

Anything that's reasonably liquid.

hi there


1. sammy, pray that you are fine, healthy & kicking till the end!
2. good health is more important than paper wealth.

 

[streetsmart73]

My routine expenses including eating out, insurance premiums, all utility bills, vehicle maintenance, licenses, council rates, hobby overheads, boat maintenance, home maintenance etc comes up to about NZD7000. I draw out what I need and let the rest roll over to compound.

hi there


1. wow! wait.
2. boat maintenance!
3. do you means yacht or what?
4. erection, you are in luck!
5. the seatless bike owner is loaded.

 

[erection2015]

i know that he is loaded....but he has willed all his stuff to alamaking and besotted....i only get the weeds from his garden and the

barnacles from his boat. But its ok...i'm not the envious or greedy sort.

hi there

3. do you means yacht or what?
4. erection, you are in luck!
5. the seatless bike owner is loaded.

 

[drifter]

No, not saying you are stupid. But trying to convince you that insurance are worthwhile. I'll give you an example, I had an operation last year. Total cost comes in to close to 30K including physio, rehabilation, etc. I paid in total out of pocket maybe $10K. I would have to fork out close to $20K if I don't have private insurance. Alternatively, if I had chosen to stick to the public system, I might have to wait 5-6 years before they will do the operation on me. Its just a simple example, you don't know when things would change or happen to you. Insurance are just a tool to protect you financially against events like these. Mind you, I had the $$ to pay upfront fully if I wanted to, but the $$ saved and the medical leave I can take from work helped out. Imagine if you needed a longer period to get back on your feet?

bro....in my country , we buy national health insurance ( same like medisave but better ) ...so i dont have to worry about my health care when i get old .

 

[drifter]

I don't have any life insurance. The premiums I pay are for medical expenses, home and content, car and boat and some of my camera gear.

I've added up all my insurance claims and I'm actually ahead of the curve. The most common claims are medical matters.. eg surgical procedures plus the usual specialist consultations that are required from time to time. If I have a massive heart attack tomorrow that costs $250,000 to fix, it will all be taken care of.

Home insurance usually involves fixing bits and pieces of the house after a severe storm.. eg lifted roof tiles, smashed fences from falling branches etc.

im glad you enjoy your life in your country and have some hobbies . i find many singaporean dont have hobbies .

for me , i pay 2 houses loan , surf gears , snowboarding gears , timepiece ( already try not to spend so much on it ) , entertaining friends , fashion ( spend quite alot on that ) , collecting toys ( recently never buy ) short holiday trip outside tokyo , and most importantly all my wife expenses .

 

[drifter]

If you're very wealthy, you don't need insurance. The Larry Elisons and Bill Gates of the world aren't going to bother paying premiums. They have more investible funds than most insurance companies.

but the problem is ...im not a billionaire and i dont have insurance ...thats why i always try to invest in more business so that more money coming in from all directions .

 

[drifter]

i know that he is loaded....but he has willed all his stuff to alamaking and besotted....i only get the weeds from his garden and the

barnacles from his boat. But its ok...i'm not the envious or greedy sort.

wow...you got weeds never share with me

 

[erection2015]

hahha the wrong kind la bro...this type cant get high...only get fever.

wow...you got weeds never share with me

 

[Ash007]

Yes, Japan has a good health system. something like $10 for a MRI scan. All prices set by the government. I mean the other insurances. Just look at what Sam mentioned about the other insurance he buys. Don't buy all of them, but the important ones that would make a difference if it something happens.

bro....in my country , we buy national health insurance ( same like medisave but better ) ...so i dont have to worry about my health care when i get old .

 

[Ash007]

You want to think about insurance for your 2 houses at least. Your timepieces also, home and house content insurance. I've my timepiece insured, so if I get robbed, destroyed etc, I'm covered.

im glad you enjoy your life in your country and have some hobbies . i find many singaporean dont have hobbies .

for me , i pay 2 houses loan , surf gears , snowboarding gears , timepiece ( already try not to spend so much on it ) , entertaining friends , fashion ( spend quite alot on that ) , collecting toys ( recently never buy ) short holiday trip outside tokyo , and most importantly all my wife expenses .

 

[drifter]

You want to think about insurance for your 2 houses at least. Your timepieces also, home and house content insurance. I've my timepiece insured, so if I get robbed, destroyed etc, I'm covered.

my house got earthquake insurance ( its a must ) . i bo bian must pay .

timepieces ...i dont worry kena rob ..i have 3 pitsbulls at home ( anyway japan is safe ) ....all my timepiece keep in a safe so even if got earthquake ..bo tai chi .

 

[Ash007]

Well, as long as you take necessary precaution.

my house got earthquake insurance ( its a must ) . i bo bian must pay .

timepieces ...i dont worry kena rob ..i have 3 pitsbulls at home ( anyway japan is safe ) ....all my timepiece keep in a safe so even if got earthquake ..bo tai chi .

 

[drifter]

hahha the wrong kind la bro...this type cant get high...only get fever.

nevermind bro ...maybe i dont smoke i use it to make tea lah ..maybe also can get high