savings

[chonburifc]

u, oni 1 fella, ofcos e-z la ... ppl got 1 whole bunch 2 consider woh! ...

There are only 2 choice. Get out or don't get out.

By making a decision, chances are 50-50. Even if outcome is bad, at least tried.

 

[soIsee]

When I was planning to emigrate, a number of my close associates expressed similar intentions. All of them are still in Singapore to this day and all of them are regretting their inaction when the opportunity to emigrate presented itself many years ago.

One of them went as far as to do to a kepner tregoe analysis regarding the emigration process. At the end of the day, his charts led him to believe that it was not the right time to leave so he stayed put.

I did zero analysis. I decided I wanted to leave so I took the necessary steps to make it happen. It was a very simple process. Forms took about 2 hours to fill. Getting supporting paperwork in place took a week in total.

Sinkie don't trust even their own gut instinct AND IT'S THEIR OWN GUTS. They trust their analysis to tell them that to keep voting for PaP, that THINGS WOULD GO THEIR WAY! LOL

 

[Television]

Education does not equal to being successful nor does blaming our education system make sense. Look at all those rich people in Singapore, Most are uneducated or have low education. Look at mustafa..He started selling tea on a push-cart and look at what he is now.

 

[johnny333]

Alot has changed in Spore since you left.

In the past there were many indonesians who ran their own biznises in Spore. Back then there was room as the gov't had not yet started their own businesses ventures Over the years I've seen many of these small foreign owned biznesses forced out by the GLCs.

Part of the problem is the expensive rent that exists in Spore which is being dictated by the landlord which is probably a GLC. It was "rumored" that Carrefour had a problems finding ideal locations to compete with NTUC

That's not true. When I first started doing web design, many of the projects I went after were also being courted by Pacific Internet and Singnet who were eager to get into web design + hosting + ISP as a package.

I got most of the jobs simply by telling the potential client that :

1) I would do it within a week.
2) No deposit required.
3) If he wasn't happy, there would be no charge.

The GLCs moved like snails. It would take them a week just to get a sample site up and running after a 5 page contract had been signed.

Many Singaporeans like yourself have this defeatist mindset that they're going to lose so what's the point of trying. It's killing the whole country.

I credit NS for the contacts gained and bonds cemented with a wide cross section of Singapore society for many of my successes. There's nothing like suffering together when it comes to building long lasting friendships. NS has many positives. It's up to each individual to grasp them and move forward.

 

[Television]

NTUC has defiantly pushed lots of biz out.

And allowing 7-11 to operated here has also pushed many ma&pa shops to close down..(Aust, Does not allow 7-11 to even operate) and then you have cheers(Ntuc) coming into the game.

 

[Leongsam]

Alot has changed in Spore since you left.

Things will always be in a state of flux. Rents were an issue back in my time too. That's why I took the path of least resistance and chose not to have an office. I operated from home.

There will always be paths that enable you to bypass obstacles. Just stand back a bit and you'll see them.

The best source of income does not require big offices or large factories. The path to wealth is always between your ears in the form of an idea that is there for the nurturing. The problem is that we tend not to use the brain very often or we stop short of acting upon the thoughts that we come up with.

 

[Leongsam]

NTUC has defiantly pushed lots of biz out.

And allowing 7-11 to operated here has also pushed many ma&pa shops to close down..(Aust, Does not allow 7-11 to even operate) and then you have cheers(Ntuc) coming into the game.

Ma and Pa shops aren't going to make you wealthy. It's subsistance living. There is very little value added. There is no brand to develop.

 

[SirRichard]

Let me say in all honesty that I am of the opinion that Singaporeans tend to complicate simple processes by over analysing issues to the point of paralysis.

I don't know whether this is the result of the education system or some sort of deep seated risk aversion which afflicts many for reasons best know to themselves.

That's very true. I'm like this too. In my 20s keep thinking I want to be a success business man, live a high life. After 15 yrs still a 打工仔. No idea what to do, no guts to step out without substantial savings as assurance. Always think think as you said.

 

[ls-knnbccb]

NTUC has defiantly pushed lots of biz out.

And allowing 7-11 to operated here has also pushed many ma&pa shops to close down..(Aust, Does not allow 7-11 to even operate) and then you have cheers(Ntuc) coming into the game.

I guess that ah leong is pointing out about the efficiency of the pap and its institution about getting the job done without taking decades to decide to start a project.
We defiantly got to give them that and credits at certain avenues but at the moment they seem to be crumbling and are holding on to certain policies that are simply not working and certain areas have been totally mismanaged etc. Housing

gotcha chow ah neh.

 

[drifter]

Education does not equal to being successful nor does blaming our education system make sense. Look at all those rich people in Singapore, Most are uneducated or have low education. Look at mustafa..He started selling tea on a push-cart and look at what he is now.

bro..behind every wealth there is a crime ...even shaw brothers in the early 80s is a big time bookie ..alot of successful biz man will not tell you how they got their first million .

 

[hawker]

My saving is only 6 to 8 months of my monthly income. Chinese saying "Hand Stop = Mouth Stop".

 

[Leongsam]

That's very true. I'm like this too. In my 20s keep thinking I want to be a success business man, live a high life. After 15 yrs still a 打工仔. No idea what to do, no guts to step out without substantial savings as assurance. Always think think as you said.

You realise that as long as you don't do something different, things will either remain the same or get worse. Your life will never get better if you stick to the status quo.

 

[akunei]

looking back over the years, i got not much saving except some insurance, a fully paid small house and a small business barely survived but not generating enough cash.

i have taken the first step to get out of my comfort zone. but now guess got to take another step again

 

[johnny333]

looking back over the years, i got not much saving except some insurance, a fully paid small house and a small business barely survived but not generating enough cash.

i have taken the first step to get out of my comfort zone. but now guess got to take another step again

You should seriously consider selling/renting your local assets & moving elsewhere.

 

[boylover]

it's easy to say that but when you have a family to look after, i bet you won't dare to take the first step.

You realise that as long as you don't do something different, things will either remain the same or get worse. Your life will never get better if you stick to the status quo.

 

[Muthukali]

it's easy to say that but when you have a family to look after, i bet you won't dare to take the first step.

If your mind keeps having this thought, then u will never ever step out.

 

[Leongsam]

it's easy to say that but when you have a family to look after, i bet you won't dare to take the first step.

If a family has two incomes, it actually reduces the risk considerably. I have a number of successful friends who actually told me that had it not been for the backup their wives' salaries provided, they would not have quit their jobs to start their enterprises.

In fact, the riskiest option for a family man is to depend on a salary. Without substantial savings, most salaried personel are literally living from hand to mouth and in many employment contracts, a salary provides 30 to 60 days of security at most.

Salaries can come to an abrupt end without warning for any number of reasons. You can be sacked for a mistake you made. You could be replaced by an FT. You could be dismissed if you develop a long term illness.. something which is very likely as you approach middle age. The company you work for could go belly up or move to a country where overheads are cheaper. Employees have absolutely no control over their ultimate destinies whatsoever.

On the other hand, if you run your own company, you're pretty much in the driver's seat. You dictate policy. You're not going to fire yourself if you make a mistake. You're not going to replace yourself with foreign talent. If you fall ill, you can hire someone else to helm the ship and still be in a position to generate wealth as long as you're still lucid.

Unless you have a job which provides an iron ricebowl, you're much better off working for yourself.

 

[Jimmy1978]

The thing with savings right now is that the interest rate offered by all the banks is much lower as compared to before. So I have about 6 months worth of living expenses in the savings account I have with dbs (rainy day fund). And the rest of my savings, i invest it into bonds, FX, stocks etc to get returns that are firstly higher than inflation and also to make my money grow for me. No one ever got rich from savings alone..That's just my opinion.

 

[yinyang]

..consider selling/renting your local assets & moving elsewhere.

Moot point -for countries not only with comparative advantage (cost of living-wise) but also windows of opportunities eslewhere. Comfort zone for most is something else

 

[AhGuan]

The thing with savings right now is that the interest rate offered by all the banks is much lower as compared to before. So I have about 6 months worth of living expenses in the savings account I have with dbs (rainy day fund). And the rest of my savings, i invest it into bonds, FX, stocks etc to get returns that are firstly higher than inflation and also to make my money grow for me. No one ever got rich from savings alone..That's just my opinion.

How do u get returns that are higher than inflation with FX ?