Earning between $10k and $20k? The perfect middle class squeeze.

[Confuseous]

Those in the $10k to $20K bracket could live very comfortably if not being forced by the system and some dickheads to spend every cent they earned. They are not supposed to be thrifty, to be prudent, to save for their children and old age. They must spend and spend to help the economy and support the private property market for the dickheads to get richer.

This is the perfect middle class squeeze. Not because they have to support parents and children, but to support the private property market.

- http://mysingaporenews.blogspot.com/2011/09/still-squeezed-out-of-public-housing.html

 

[eErotica69]

If this Lim guy does not have such a big feet, he should not be wearing such big shoes!

Any rules stopping him for buying a reslae HDB say at $500K or lower?

If he wants to live in a Private Property, then he shouldn't complain. If not, he or his wife (especially) should work part time to support their wants!!!

KNNBCCB earn > $10K still complain???

 

[eErotica69]

Even if he takes a $1 mil loan at interest 2% at 30 years tenor, the monthly instalement is $3700.

Income $10,000 minus $3700 = $6300.

So $6300 is not enough for his family?

This guy got to manage his own expectation and expenses!!!!!

 

[LeMans2011]

Even if he takes a $1 mil loan at interest 2% at 30 years tenor, the monthly instalement is $3700.
Income $10,000 minus $3700 = $6300.
So $6300 is not enough for his family?
This guy got to manage his own expectation and expenses!!!!!

I believe we are talking about household income.

The point is, a person earning $10k above p/mth should not have to take a 30 years loan. Its quite easy to drain off:
House - $2k pm (bal fr CPF)
Car - $2k pm
Living exp - $2k pm (groceries, food, shopping, etc)
2 Kids & 1 dog - $2k (nutrition, schooling, tuitions, etc)
Parents - $1k pm

Balance - $1k pm for everything else ???????????????
How about insurance, tour, etc?????????????????????

In short if you are single income, $10k a month makes you a poor man.

From above the first thing to strike off is car. Have to halve it to $1k a month = toyota
Of course if you live in a 4 rm HDB you can further save $2k, but then i cannot have my dream dog.
For those who don't need to support parents you could further save $1k, and that is provided they are not sick.

So yes, you can survive at $10k pm... but you have to live in a HDB and drive a small car and hope there is minimal medical expenses for your parents.

 

[QXD]

If a person earning 10K cannot buy a car outright, then they are living beyond their means.

 

[Char_Azn]

I believe we are talking about household income.

The point is, a person earning $10k above p/mth should not have to take a 30 years loan. Its quite easy to drain off:
House - $2k pm (bal fr CPF)
Car - $2k pm
Living exp - $2k pm (groceries, food, shopping, etc)
2 Kids & 1 dog - $2k (nutrition, schooling, tuitions, etc)
Parents - $1k pm

Balance - $1k pm for everything else ???????????????
How about insurance, tour, etc?????????????????????

In short if you are single income, $10k a month makes you a poor man.

From above the first thing to strike off is car. Have to halve it to $1k a month = toyota
Of course if you live in a 4 rm HDB you can further save $2k, but then i cannot have my dream dog.
For those who don't need to support parents you could further save $1k, and that is provided they are not sick.

So yes, you can survive at $10k pm... but you have to live in a HDB and drive a small car and hope there is minimal medical expenses for your parents.

Don't know what kind of calculation is that. I know a lot of couples(friends) earning 3K+ can afford house, kids, car, insurance and still got something set aside for vacation and retirement. If that bugger 10K a month not enough should go screw himself

 

[eErotica69]

I believe we are talking about household income.

The point is, a person earning $10k above p/mth should not have to take a 30 years loan. Its quite easy to drain off:
House - $2k pm (bal fr CPF)
Car - $2k pm
Living exp - $2k pm (groceries, food, shopping, etc)
2 Kids & 1 dog - $2k (nutrition, schooling, tuitions, etc)
Parents - $1k pm

Balance - $1k pm for everything else ???????????????
How about insurance, tour, etc?????????????????????

In short if you are single income, $10k a month makes you a poor man.

From above the first thing to strike off is car. Have to halve it to $1k a month = toyota
Of course if you live in a 4 rm HDB you can further save $2k, but then i cannot have my dream dog.
For those who don't need to support parents you could further save $1k, and that is provided they are not sick.

So yes, you can survive at $10k pm... but you have to live in a HDB and drive a small car and hope there is minimal medical expenses for your parents.

Like that Lim fellow, you need to manage your own expectation too!

 

[myo539]

That's the type of problem PM Lee and LKY are most afraid of - a dependency or crutch mentality. People earning $10,000 a month also want to depend on gahment to help. Then try to blackmail gahment - like tat how to have children, how not to vote for opposition parties or candidates?

And then have children also KPKB want cheap schooling, cheap transport - but spent thousands on tuition, dancing classes, drama classes, art classe for children. Not forgetting of course at least two holiday trips to Europe, America or North Asia a year. These are the people who will park their Merc, BMW or Audi outside their HDB carpark!

 

[Char_Azn]

At least the opposition parties should be happy. Morons like him will probably vote against PAP

 

[psy83]

10 TO 20K MIDDLE CLASS?

Means most of our citizens are living in poverty cos most people i know earn between 1.3 to 3.5 a Month, Those around 25 - 33yrs old.

 

[saratogas]

"10 to 20K Middle Class?"

Yes if you add Minister's salary into the equation...

 

[bryanlim1972]

That's the type of problem PM Lee and LKY are most afraid of - a dependency or crutch mentality. People earning $10,000 a month also want to depend on gahment to help. Then try to blackmail gahment - like tat how to have children, how not to vote for opposition parties or candidates?

And then have children also KPKB want cheap schooling, cheap transport - but spent thousands on tuition, dancing classes, drama classes, art classe for children. Not forgetting of course at least two holiday trips to Europe, America or North Asia a year. These are the people who will park their Merc, BMW or Audi outside their HDB carpark!

you have obviously not read the original article. the couple did not complain for the sake of it. they were saying they were forced by previously high COVs to opt for a small condo over subsidized HDBs. hence now with the new income rules on HDB ownership, they wish to sell their small condo and switch to HDB. but they're prevented from doing so by the 30 month prior private property ownership rule.

HOW IS THIS FOSTERING A CRUTCH MENTALITY?

 

[LonewolfAlfa]

"10 to 20K Middle Class?"

Yes if you add Minister's salary into the equation...

10k is now considered low income as they are now qualified for HDB.