Ideal salary for living in Singapore is S$6,000: survey

[johnny333]

I started life working for Texas Instruments. It was a great training ground when it came to preparing someone for the uncertainties of life.

I saw managers being promoted with great fanfare and fired a month later for screwing up. I witnessed new hires being walked out of the door after a week.

Probation never ended even when it was "officially" over. Your performance could go from hero to zero in a week.

It molded my attitude towards life and made me determined not to have to depend on a job for financial security.

Yes it's difficult working in such an environment but you work with others who are trying to get a job done AND you are getting paid well. Some Companies have perks such as employee stock purchase plans, stock options, etc. In my case I took full advantage of them even though I was already contributing to the CPF. That is why today I am financially OK even without the CPF

I am angry with the PAP because the PAP has robbed me of the opportunity cost of making more $. If it wasn't for the demands of the CPF I could have put so much more into my investment
My attitude about investing was inculcated by my parents & I don't need the help of the gov't.

 

[Sinkie]

From the way things are, salaried people are screwed by the CPF scheme. Those who work for themselves and are self-employed, other than the medisave contribution, are not sucked into the CPF scheme.

 

[winnipegjets]

I don't understand why Sinkies need maids regardless of where they live.

Nobody in NZ has a maid. I clean my own toilets, mow my own lawns, wash my own car and do my own laundry. 45 minutes a day set aside for domestic tasks is all I need.

Come on, don't be so cheap. A cleaning service will cost you less than the pay of a day's work.

 

[Charlie99]

don't understand why Sinkies need a maid living a HDB?

Is cleaning 3/4/5 bedroom HDB so tedious or mundane that would break the wife backs?

Over consumption of maid services destroy family unity. Take cleaning tasks as a family activities, duty of care and in fact cleaning home is enjoyable and make you appreciate your home more.

May be the people in Singapore work longer hours.

As an example, we have 4 children and live in a 3 bedroom, small to average size house in Toronto, and we do not have a maid.
The only exception is after our third child was born, because we needed some help for my wife as the second child was only about 19 months at that time.
We hired a lady to help at our house for about 5 hours three times a week, walking the eldest child to and from school, taking care and entertaining the second child, some cooking and keeping my wife company.

I do not know the wages for a maid, but I heard that it costs about Cdn $1,600 to $2,000 to hire a live-in nanny, and the employer has to provide accommodation and food, and contribute to the maid's Canada Pension Plan, Employment Insurance premium.

 

[Charlie99]

May be you missed the "p", it should be deprive not derive.

Yes, this is why it is very hard to save, even for a $6k income earner with kids. You included weddings, funerals, gifts, vacations............let me touch a bit about falling sick.

Tell u something sad, RUN brought his kid to KK hospital A&E on a sunday. When he was registering, he was asked to pay $98 first (which will cover consultation and basic examinations and medications).

$98, just to see doctor in my govt hospital for emergency case. Should we derive (( should be deprive )) the lower-income of basic medical care in hospital? Back then, RUN's child was in such severe pain that he burst out in tears and just laid on the floor. Have you ever heard a child crying in pain, as parents we felt so helpless because we cannot help them.

There were two halls, filled with appx 300 kids on that sunday afternoon. Half are not local, I don't blame them, foreigners also will get sick. RUN waited for 7 hours before going home, on the way home, RUN realized that some of these kids would likely be RUN's child's classmate in pri/sec/jc/poly or uni.

 

[laksaboy]

This is all you need to know.

[video=youtube;45kNqUF6kC4]http://www.youtube.com/watch?v=45kNqUF6kC4[/video]

 

[AttilaTheHun]

So what are you ball-less sinkies going to do about the low salary in sinkieland?

 

[soIsee]

From the way things are, salaried people are screwed by the CPF scheme. Those who work for themselves and are self-employed, other than the medisave contribution, are not sucked into the CPF scheme.

You mean you have figured this out only till now?

You mean you did not know that those driving the huge Mercs, BMW, Audi etc etc that live in huge landed don't give 2 fucks to what they have in their CPF?

So now you realised that Roy is fighting for a bunch of fucked up ppl with their forgone CPF.

The real Bossess must be buying popcorn to see the upcoming show.

Where have you been all these times?

 

[ykhuser]

My friend earning $2.5k can achieve all you listed, except having the maid

possible if no need to contribute $500 to cpf

 

[ykhuser]

Some wives are blessed. They are smart, chio + marry rich husbands. Their suitors must either have a car or condo (near MRT). You would agree that the married girls in newly completed ECs or condos are really more chio than those HDB BTOs.

sorry, i don't meant to be rude. just an observation.

no you are not rude.it is the hard truth.
good observation

 

[ykhuser]

From the way things are, salaried people are screwed by the CPF scheme. Those who work for themselves and are self-employed, other than the medisave contribution, are not sucked into the CPF scheme.

self employed hawkers who do not contribute mediasave are not granted hawker license
ah long or bookie are smart.
they have 100% profit of all the cash

 

[Asterix]

24th Century Human Economics has yet to arrive
If you don't mind I need to revise my knowledge
Of my race's splendid 285 rules of acquisition

[video=youtube;8MUVGTdXkzk]http://www.youtube.com/watch?v=8MUVGTdXkzk[/video]

 

[Runifyouhaveto]

These parents are just trying their best to groom scholars for singapore. We should be more encouraging and shouldn't just dismiss them as kiasu parents. Our society should be grateful to them for maxing out their financials to provide the best education, tuition, enrichment courses for their children. RUN's earlier estimate of $1000 per preschool kid is really just "normal"

Childcare firm EtonHouse International has been told to "thoroughly review" its registration process, after more than 100 people queued for a place at its new Punggol centre a day before registration opened.
http://www.straitstimes.com/news/si...gistration-process-after-long-queues-20140601

These parents spend about $1500-2500 for each kid every month.
方为人上人, if you wanna be a little above others,
Be a lender to help them realize their dreams.

 

[sochi2014]

If they can afford such fees, they definitely dun need your help.

 

[lifeafter41]

I believe it is $6000 x 2 for a couple to live ideally in Singapore. $6000 each for husband n wife.

My assumptions:

- 2 Kids Education $1000 x 2 a month = $2000
$500-600 for childcare after subsidy + top-up for enrichment classes imposed by childcare centre (or else your kid do nothing during that period)

- 2 Kids Living expenses $250 x 2 a month = $500

- Housing Loan = $1500 a month (usually from CPF Contributions)
let's assume 20-25 years loan for a resale/larger HDB

- For parents = $1000
$500 for each side (husband n wife) parents. Most don't even give $500.

- Car/Insurance/Servicing/Petrol/Tax/Fines = $1200 a month
Based on a simple Cat A car

- Utilities/Phone/Internet Bill = $500

- Living Expenses = $3000
$50 per day for each husband n wife (both working)

- Maid's wages n living expenses = $1000
Both couples are working, so need maid

- Home Cooked Food - $500
Supermarketing/Groceries


Total: $11200
my estimations on a low side to live normally.
Conclusion: RUN's wifey must work :p

Eh based on your number of 11,200, 60% or more of Singaporean in trouble already. Or should be 70% in trouble.
I recall the median household income is much lesser than 12k.

 

[frenchbriefs]

Eh based on your number of 11,200, 60% or more of Singaporean in trouble already. Or should be 70% in trouble.
I recall the median household income is much lesser than 12k.

...according to CPF statistics 65% of sinkies earn less than 3.5k a month...30% earn less than 1.5k a month....15% earn less than 1k a month.

 

[SockPuppet]

I believe it is $6000 x 2 for a couple to live ideally in Singapore. $6000 each for husband n wife.

My assumptions:

- 2 Kids Education $1000 x 2 a month = $2000
$500-600 for childcare after subsidy + top-up for enrichment classes imposed by childcare centre (or else your kid do nothing during that period)

- 2 Kids Living expenses $250 x 2 a month = $500

- Housing Loan = $1500 a month (usually from CPF Contributions)
let's assume 20-25 years loan for a resale/larger HDB

- For parents = $1000
$500 for each side (husband n wife) parents. Most don't even give $500.

- Car/Insurance/Servicing/Petrol/Tax/Fines = $1200 a month
Based on a simple Cat A car

- Utilities/Phone/Internet Bill = $500

- Living Expenses = $3000
$50 per day for each husband n wife (both working)

- Maid's wages n living expenses = $1000
Both couples are working, so need maid

- Home Cooked Food - $500
Supermarketing/Groceries


Total: $11200
my estimations on a low side to live normally.
Conclusion: RUN's wifey must work :p

I will show your post to my wifey

 

[lifeafter41]

...according to CPF statistics 65% of sinkies earn less than 3.5k a month...30% earn less than 1.5k a month....15% earn less than 1k a month.

Out of curiosity just went to singstat to take a look. It really is the 70th percentile and above is more than the 12k and it include taking into account cpf. Lucky guess, if you ask me, RUN.

 

[winnipegjets]

...according to CPF statistics 65% of sinkies earn less than 3.5k a month...30% earn less than 1.5k a month....15% earn less than 1k a month.

When PAP can't get anymore from sinkees, they turn their guns on the millions of foreigners. CPF scheme will eventually apply to foreigners; the scholars are tasked to come up with a scheme that will bring in the dough and yet not scare the foreigners away.

 

[SockPuppet]

$6k per person is only enough to live hand to mouth in Singapore

These are things which I wish i could have learn and practice 20 years ago:
- Insured yourself for at least the next 20 -25 years. Total insurance should be about 60-70% of your current total annual income x 20-25 years.
- Put 6 months of your salary in a FD and you should only use them as a last resort
- Put at least 20% into investment products and increase the amount as your income increase. Educate yourself but don't wait till you have become an 'expert' to invest. Start somewhere like buying funds.
- Ensure that your parents are well taken care off including their medical needs. There are tons of Sinkies out there who have their own families and kids but are still giving 'token sums' of $200 etc to their poor parents. Super self-centred. You should take care of your parents first before even thinking of getting a wife
- Invest in yourself through education and networking with the right people. Try to be an entrepreneur but if you are really not make out to be one, at least work hard and smart to stay employable.
- Exercise to stay healthy - no need to join a gym. Just jog/walk around your estate. Pay per visit at your community centre gym/swimming pool if you need a workout. Buy a treadmill.
- Don't buy books - borrow from library. Keep TV to a minimum and listen to free music on radio instead of buying.
- Buy a property/HDB flat asap and never sell it unless you are going to upgrade big time. Use you pool of cash from your investments and savings to buy a second property for rental income
- Don't be stingy on clothes and personal hygiene. Quality stuff are not always expensive but don't buy too many.
- Try to go to restaurants only with people whom you want to network or learn from. Otherwise just eat at hawker centre/food court. Best is to cook a few meals at home every week
- Save/invest the rest after paying for monthly utilities/food/public transport

Take care of the above before you think about getting a wife, car or having kids - which are luxuries in Singapore but Sinkies still see them as necessities. Why do you need wife and kids anyway and if you want sex, just pop by GL. Network and develop friendships instead

totally agree that must take care of own parents first before thinking about other needs. Go geylang for fuck is good alternative but what about those who already kena trapped with a wife and kids?