To our young Singaporeans, you have no future

[Ng Cheh Hwang]

imagine they tell us this before the elections
Cost-of-living fears need data backing for government to give more support: Indranee
https://www.businesstimes.com.sg/si...-for-greater-government-intervention-Indranee

 

[Ng Cheh Hwang]

Some of my juniors in 30s don't realized that they are to getting burned. They are borrowing just to pay interest on what they already owe, because those online gurus or "rich dad" told them that maximizing home-loans are good for them, use spare cash to whack shares and cryptos. Yes, it worked for my generation but one day the music will stop. Our home-loan or car-loan Debt is a trap waiting to snap. No matter how much money you made, your country siphons them away when u own a house or car, then you work like hell.

Singapore’s workforce battles burnout, highlighting need for stronger mental health support
https://hrmasia.com/singapores-work...ting-need-for-stronger-mental-health-support/

 

[Ng Cheh Hwang]

Few dare to openly talking about this in the media. More and more educated, working professionals are not having kids or even marrying. When you listen to their reasons, you realize this is a deeper change in what life in Singapore means today. Imagine we have so many locals lay off in the private sector, only to be rehired for lower paying jobs (functionally-unemployed) because of the influx of foreigners. Therefore, the employment numbers still look good, but misleading.

Next, if your wife is not working, it doesn't mean that the husband need not hire a maid or tutor. If your wife is working, she'd better be in civil service where she will not be penalized for maternity-leaves.

Full-time work doesn’t mean you can survive. For the employed husband and/or wife, is their income keeping up with inflation, the expensive home or car?

 

[Ng Cheh Hwang]

‘How does a fresh grad survive in Singapore?’: NUS grad shocked by high housing prices and soaring cost of living
https://theindependent.sg/how-does-...gh-housing-prices-and-soaring-cost-of-living/

SINGAPORE: “How does a fresh grad survive in Singapore these days?” A local NUS graduate recently posed this question online after realising just how exhausting and expensive adult life has become.

Curious to see what lies ahead, he decided to take a look at housing prices in Singapore, both for BTO and resale flats, and was completely taken aback by how outrageously expensive they were. “I was stunned by the price. How to afford sia? Employment is already so hard to maintain, and now, I still have to pay a bomb for a house?” he wrote.

It’s even worse for singles, he added. “You can’t even qualify for BTO until you’re 35 years old, and even after that, you still have to ballot, which I heard is like winning the lottery. “You are essentially forced to buy an overpriced resale flat. Look at how much resale flats cost nowadays. How to survive in SG like that???”

 

[batman1]

‘How does a fresh grad survive in Singapore?’: NUS grad shocked by high housing prices and soaring cost of living
https://theindependent.sg/how-does-...gh-housing-prices-and-soaring-cost-of-living/

SINGAPORE: “How does a fresh grad survive in Singapore these days?” A local NUS graduate recently posed this question online after realising just how exhausting and expensive adult life has become.

Curious to see what lies ahead, he decided to take a look at housing prices in Singapore, both for BTO and resale flats, and was completely taken aback by how outrageously expensive they were. “I was stunned by the price. How to afford sia? Employment is already so hard to maintain, and now, I still have to pay a bomb for a house?” he wrote.

It’s even worse for singles, he added. “You can’t even qualify for BTO until you’re 35 years old, and even after that, you still have to ballot, which I heard is like winning the lottery. “You are essentially forced to buy an overpriced resale flat. Look at how much resale flats cost nowadays. How to survive in SG like that???”

Many sinkees dare not discuss the high costs of living and housing in Sg because the more they know , the more they get depressed and maybe become a hopeless zombie.

 

[Ng Cheh Hwang]

Have you ever visit a top primary school in Singapore? Never asked how so many foreign kids are enrolled despite you, as a parent, is staying nearby, being a local and served NS?

 

[Ng Cheh Hwang]

Even if the household income is $10000-15000 a month, can the couple afford to buy a car, a condo and raise kids? They will still end up in HDB, taking public transport and struggle to enroll their kids in a good school. In the end, their self-worth is that annual or bi-annual getaway to post travel pictures on Instagram.

If our young singaporeans want every of these, even $20000 household income is barely enough:

• Car - skyrocketing COEs, insurance, upkeep and taxes
• New Condo - elusive dream for many with >$2000psf launch prices, downpayment and mortgage rates
• Childcare - costs more than tertiary education, hahaha
• Kids Education - $1000 a month per kid is barely enough as they get older
• Support for your seniors - Many ended up asking their seniors to support them
• Travel - You want to just go on Malaysian road-trips or take planes?
• Private Hospitalization Insurance - Did you notice that premiums and deductibles of private policies are getting out of contro?
• Retirement - You will end up working longer or a reduced standard of living later in life
• Supermarketing - It is not cheap if you wanna get all your essentials and groceries from major supermarkets. Try Value-shop and Venus Beauty
• Food - It is expensive to eat healthy food outside.

 

[Ng Cheh Hwang]

Our bad policies makes it worse.

 

[face the facts]

Seriously, we are one of the most indebted countries in the world and we fund our government securities with CPF.

As a lender, your borrower's debt bubble keeps increasing(per capita).

If your CPF is a retirement life/saving policy, will you allow the insurer to make repeated changes to your payouts, minimum balance, when they deemed necessary?

biggest scam after religion.....