Between, our income has be growing faster than many of our neighbouring countries over the years(including low income group). For our neighbouring friends not only do they have slower growth, they have depreciating assets and worse still slow growth assets. I would still prefer asset growth. Income/asset ratio can be good when both is low. But then, I will be a very poor person in my country as well as globally.
Worse still, one day the govt will go bankrupt subsidizing it's people and cannot afford global goods and technology.
Hope it helps.
Originally Posted by Puteri harbour
I wish to be in country A so that I have the options to decide where I want to retire at a later stage in life......options to me is better than no options. Many citizens in many of our neighboring countries do not like their govt and thing that Singapore is good but yet they cannot afford the lifestyle here. The irony is that many of my countryman are complaining about life. I use to stay in a 5 rooms flats and my wife use to stay in a 3 room flats. We are able to be where we are because the education system and the job opportunities in Singapore give us a chance.
Many college and university graduate from work as domestic Helpers. I know of a guy that work for the car grooming company that I go to, was a lawyer from myamar.
I count myself lucky to me born in a country where I know I will succeed if I work hard and I does not need to worry about my life (try being born in african continent, south America, India (caste system) and etc.
My advice is make the best out of the worst. Or make the best even better if you are lucky.
Hi PH, Contentment does not depend on what one have but rather what one is comfortable with. Despite having blinkers and blind faith, i can feel the water temperature rising. I got my education overseas and i found my job while overseas and i pay my taxes when its due. I am not as lucky as you and your wife as i stayed in a studio rental flat in my youth and grew up there. My dad and mum slaved long and hard in order to upgrade to a 3 room flat. Not because they were given the flat. We were also told that my younger sister will not be given education unless my mother went for an op to stop having kids. My dad was fined heavily. My uncle was a Chinese educated guy and when they switched to the English medium, he and a friend of mine (my Secondary school teacher eventually) were out of options and hard pressed to find good jobs.
Both country B and A has options, else you wouldn't see folks from country B making money and sending kids for education. Despite the discrepancy in the currency, folks from country B can still send kids to school in A though they are foreigners. Yes we should be contented but i agree that should not stop one from having options. Contentment and self preservation are 2 different things. There are primarily 2 groups of people coming out from SG to Johore, the ones who need another home and the ones who are here to escape the costs in country A.
Working hard doesn't always guarantee success in both countries A & B, i have seen lots of cases in country A where in the end, the flat they worked so hard to pay off was SERS and in the end, way past their prime and in their golden years, they have to service a new loan for a new flat. Lets look at reality, how many banks will loan to you at age 60 and above? Its not just about contentment that some guys from country A are now, for some, its survival. Complaining and doing something about it will give one a better chance than just complaining and not doing anything. Yet some do not complain but make plans for the long term. In the first place, if everyone in this world from country B-Z is contented, they wouldn't be in country A in the first place would they? Its not about contentment that is the push factor as there are many others.
Yes country A may have a better education but it doesn't guarantee anything especially nowadays people from Country B to Z can come by without needing to go through the education standards that country A has. There is no guarantee in country A these days that just because you work hard, you will have jobs. There are lots of people who are educated or highly educated but without jobs. Some for years. Where are their jobs? Some are even willing to lower their expectations and have the relevant skillsets and education yet that does not guarantee them anything much alone success. The country A both you and i grew up in is no longer the country A anymore.
To blame migration or seeking an alternative place all on contentment issues would be slightly myopic in my humble opinion.
There are those that will succeed because of their government, there are also those that will succeed despite of their government.
Both countries A & B has their fair share of people like that.
Every citizens can have the same options and give up citizenship when they think that their govt is not good enough and I am sure many other countries are more happy to welcome them. The problem with Singaporeans is that they are not contented. No country can hide in a cave forever. Globalization will open all markets. It is a matter of time. It is better to compete and learn early than to panic later. We do not have the luxury of resources like middle easy and Australia.....
At least there's a choice for people to escape the jam at CIQ if they willing to pay.
That's additional s$8 per day or s$160/mth which I think is worth it if there's no jam and makes it feasible for daily smooth commuting.
Yes thats the thing, there are people in this forum who makes enough to qualify in the top 20% and yes they are able to feed themselves and some can even feed 9 others on one persons salary. Lets call this person, a financial "strongman".
This is only a temporary situation as no one will be up there forever. Yet while he is there, one can easily see people suffering around him and tries to help but that the solution for them isn't in Singapore unless they can dramatically and drastically improve their lot and catch up with the spiraling costs.
The cost of living is now starting to be so high that many are barely catching a breath. Yes country B may have more problems than country A but people in country B, at least some of them can still survive with one persons salary. How many in country A can do that? Its not about cutting piano/violin/ballet lessons but just on a survival basis.
What happens when one day that "strongman" falls through recession, financial turmoil and loses his job? Country A people always have to be on tenterhooks, no matter how highly qualified they are as education, academic success and working hard is by no means the only criteria where one is judged/hired by. People can afford to fail in country B, as an employer myself, i have seen that but not in country A where failure is still seen as not an option.
There has to be a back up plan if the "strongman" fails, even with substantial savings or investments, the ever rising costs and inflation will surely eat away through the years and what about the dependants on this "strongman".
Last edited by wuqi256; 07-12-2011 at 01:59 PM.
People from country A may need a minimum of $3k for a household for example. People from country C can subsist on $1k as their families and needs such as education, food are not in Singapore. What is going to happen when both compete for the same $3k job. Assuming all things being equal, country C can afford to go down 2/3 but can the country A guy match even half of that and still provide for the family?
Look at page 7, and you'll see which tier has benefited from the past decade.
I am ok, i've got pretty good basket of investments, properties, savings. However, how about the poorer 20 percentile of our citizens? How about our next generation?
Else the growth in the interest will not even cover inflation. Like a learned bro of mine just recently found out, he was happy with a 3.5% pay raise until another learned colleague burst his bubble when he told him that will not even cover inflation.
To illustrate, I have a relative who was forced out of the flat that she fully paid for and had to sell it as she was the only one living there and also as they got SERS. She then have to squeeze in with her sons/daughters and in the end the son-in-law has to help take care of her. This was one very enterprising and smart lady who made money selling noodles when she was young. She made the mistake of paying up the place and then when she got SERs, that was when the downhill ride started.
Another one, similar case, no money to go for the new flats even though it was discounted, it was still way more than what his old place costs (and could fetch), at his old age, which bank can loan him money? In the end, have to rent and stay with a complete stranger.
Agree. Especially for assets in country A, how easy is it to liquidate the assets if one still wants to live in country A? You sell your flat and downgrade but hey there are rules to stop you downgrading. Even if you do, then what, to to find a very rural new HDB that somehow did not appreciate with market forces and buy? Then go through the same circle and hope for the best? Asset growth may have grown in Country A but seriously income growth has not changed much and certainly not enough to account for inflation.
If one can grow old undisturbed by mounting medical and daily bills, who would want to leave ones own land and leave the things that they were familiar with? Its really not just the pull but the guys in charge should take a long hard look at the push factors. When one or two staff is unhappy, you can blame it on them being choosy or discontented, but when many are unhappy, one should quickly get a mirror and start looking at oneself.
Rather than sneering at Singaporeans because they are "discontented", one should realise that there isn't smoke without fire.
Things didn't get bad overnight.
The guys up there in country A should look at what they are doing and be pragmatic in realising that some policies is as
unsustainable as some policies in country B. You can't continually sacrifice and put your own people in 2nd place and expect
them to be happy.
I still believe in country A and hope more can be done, instead of blaming the people, they can choose to help the people, for once.
(I mean the real type of help, not the type of help that HDB uncles/aunties groan about every time they see more "help")
Definitely, the party just represent certain groups of people, i always differentiate between the party and the country.
Last edited by wuqi256; 07-12-2011 at 02:28 PM.
Meanwhile, possible boost for Johor properties...
SINGAPORE: The government has imposed an Additional Buyer's Stamp Duty (ABSD) for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners to moderate investment demand for private residential property and promote a more stable and sustainable market.
The changes take effect on December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying a third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
The ABSD will be imposed over and above the current Buyer's Stamp Duty, which are 1 per cent on the first $180,000 of purchase consideration or market value of the property (whichever is higher), 2 per cent on the next $180,000 and 3 per cent for the remainder.
In a joint statement on Wednesday, the Finance and National Development ministries say the government's objective is to promote a sustainable residential property market where prices move in line with economic fundamentals.
They said prices of private residential properties have continued to rise, albeit more slowly in the last two quarters.
Prices are now 13 per cent above the peak in the second quarter of 1996, and 16 per cent above the more recent peak in the second quarter of 2008.
They said that even with the current economic uncertainties, the demand for private residential property remains firm.
Last edited by avelc; 07-12-2011 at 02:47 PM.
Thanks for sharing about the crime Crystal, just heard from one of the shop keepers as i went to buy some double sided tape. They still don't know/don't believe the trio already got caught though. I joked with him that Satu Malaysia and racial integration must be working so well now that robbers are even carrying out the deed in a mixed racial manner.
On a lighter note, just got a small MPV for the wife and let her take my son around our place with sunroof opened. Promised her a car with a sun roof when i was still in my teens, though she has changed a couple of cars but never managed to find one that made her so happy. My son had a field time sticking himself up and enjoying the breeze (proper supervision was done and several layers of SAF strength black tape was firmly taped and an adult with him to ensure his safety.)
True but country a guys have a choice to go down two third and spend in country c. If country c is unhappy they will not have a choice.... In country a, nobody die in the street cause there is always bursary, social assistance for the poor while in many countries, the leaders are corrupted and cheat on the poor and the poor die in the street.
Disclaimer: I am not a supporter of any political party but a proponent of good economic policies(sometime unpopular)
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