Thanks for the "casual" talk on working/ starting business etc. Helps to put in perspective about careers , finances, and the catalyst for live changing habits!
I honestly dont think life in Singapore is that tough for most of us. We are not a third world country where we STRUGGLE to get clean water, a stable supply of electricity, compulsory education, and assurance of job after graduation. Most of us have university education, a decent job and can afford a roof over our head no matter how small the house is. Just live within our own means. Its that simple, isn't it? I am the only breadwinner. My wife does part time from time to time but whatever she earns belongs to her and it doesnt contribute towards the household. Hence i made the decision to get a 3 room bto in non mature estate (280k) to ensure that we live within our means and its just nice for our family of three. We didn't expect to have another child, so right now i have to convert the living room to a bedroom for my second child. But still, in my heart, i feel grounded and secure that finances wouldn't be an issue long term as i dont have to spend my life paying the property. End of day, we can afford to eat outside at hawker centre and food court anytime and sometimes restaurants without worrying much about our budgets. We can travel pretty modestly overseas. We can take a grab whenever we need to since i don't own a car. And we can afford to let my kids go for extra activities and experience without worrying that it will burn a hole in my pocket.
If you do not need a car to generate income, don't buy a car. SG is so small it is also more environmentally friendly to use public transportation. Everyone needs to be do our own financial planning. Always have to crunch numbers before big decisions. If you love kids, save while you educate them. Your income will also grow marginally every year. You cannot have the best of all worlds but we need to have realistic goals in life.
Agreed. Life's hard but compared to other countries, inflation is hitting Singapore LESS and housing multipliers to salary averages are REASONABLE in SG as well. There were stats put up that although higher costs affect us all - SG has it VERY VERY VERY good. The issue here is that job salary ceilings and generational wealth is very dictated by your family SES - which Singapore hates to accept how many people get passed down money. There needs to be more transparency behind nepotism in a small country where born-into connections = EVERYTHING.
really appreciate such podcasts showing the everyday financial experiences of Singaporeans... A bit depressing sometimes so I'll go watch something more positive later HAHA but the essential thing is that it's realistic... Not v focussed on data but these anecdotal experiences can be educational too
My take, it’s not worth to buy property in Sg anymore after 2010. Cos’ a typical 3bd room is 2mio dollar, and The problem is that the bed room is very very small. It’s better to get a cheap HDB and park your other investement elsewhere to grow.
Smart Singaporeans with good overseas education are in great demand in developed countries. Can migrate there less stressful working lifestyle and cheaper and good freehold properties.
I think it's the same as most places. The location you picked for your home determines the cost. Pick a super inconvenient location, old HDB, etc. There are choices and trade offs.
Why own a car before having a kid, then questioned by wife that your salary is not enough. Isn't this lifestyle choice in the first place? You can choose to take public transport, then the car money will be saved and can relax and feed your kid comfortably with 4k+ salary isn't it?
I agree that car is just an unnecessary expense unless you have to care for someone who is physically disabled or your job requires you to be all over Singapore. There's alot of complaints from singaporeans that young families need car to bring their kids out. Well, I bring my two children out using public transport. There are multiple times that my toddler will cry, whine, throw tantrum in the bus and mrt but I just stay calm and DON'T BOTHER how others will think and feel. I just focus on my kids and respond to their needs. I believe that Singaporeans are gracious lot of people. Plus there's pretty much nothing you can do when you handle a baby/toddler. They haven't understood the social norms yet. And about getting seats on public transport, alot of toddlers don't wanna sit down. They prefer the parents to stand when using carrier. And if need to, I will just ask nicely for a seat. No one has rejected me for the past nine years.
I think young people fear the unknown, fear of responsibility, that's why don't want to have kids. Perhaps we need more people that have "gone thru the journey" to share their experiences, then they can make a better informed decision. I used to think having kids will cost a bomb, but actually how much it cost largely depends on the parents. I think CNA have done a few series where people in poverty in Singapore are also having 3-4 kids.
My advice to ppl coming from poor or less well to do families, just go for sales or try out biz. If u are concerned abt capital to start a biz then just go for a sales role. The thing abt sales is not just the ability to make more $, it’s abt the training, exposure to learning how businesses make $ bcuz sales is always on the frontline, building a network with ppl in the industry (colleagues, bosses) and oso the ppl u meet (prospects, customers) Tats when u will become more resourceful over time. Wat if u fail? Then find another sales job and restart, at some point u probably meet a very good boss/mentor/client, just tat someone who enlightens u to the path to success.
I been worked in singapore, and their spendings habit is absurd. Want popular stuff, want go trip to other country 1 -2 times per year, want eat nice food everyday and weeks, subscriptions on whatever apps and clubs, and still expect want to retire with a lot of money. Control your spendings before complaining. I do respect some singaporeans who save, but most i seen are just spend a lot while complaning, you all want many things, and think those stuff are "normal" standards. Those are not normal at all, those are luxuries, look at how real normal people live, malaysia , other country what so ever. You can save more if you are not paying for housing. And i see more youngsters are living with their parents instead of paying for houses, and your inflation rate is much lower compare to malaysia in terms of salary to product ratio. All you know is complain only
Aim of holding a wedding ceremony is not to show off how rich you're or show off how pretty your wife. The aim is to share your joy of getting married (one of the big life milestones in your life). Going to a wedding ceremony is you are happy that the bride/groom are married and happy to witness that.
I spent all my life paying for my property, now worth S$2.5million...but cash wise....really negligible. I am retiring soon. Assuming I don't downgrade because I don't want to give up the place I have been living in for the last 2 over decades, I have no cash to spend in my retirement. In other words, I have to keep working until I die. I am no different from a fresh grad 30 over years ago just starting out, working to survive. Some people tell me to sell the property and go buy a small flat to get the money...but then my lifestyle will be thrown out the window...whats the point of having some cash but the lifestyle and familiarity you have been living all your life is totally lost??? My advice to youngsters is to enjoy your life as it is and don't look too far ahead...no point. Want to marry, just marry. Firstly you don't know if you will reach that old age, Secondly if you deprive yourself too much you may not get the health to enjoy what you had accumulated, Thirdly in the best case scenario, even if you hit the target and had enjoyed yourself but no family...its the end of the road...whats your legacy? Nothing. You cannot have it both ways.
@@longyang888 Imagine this, I give you extra $4k every month you don't need to work...but you must not live in your landed property with your little yard and koi pond, listening to your canaries singing in a three storied house. You have to go share your corridor with a line of other hdb dwellers who will likely clutter the access with their shoe racks, exchange your yard with a void deck and replace your koi pond with a fish bowl/aquarium. while squatting in a four walled apartment counting down your days. You want?
It is important to dream big, bigger than what u can afford now, because otherwise u do not have a motivation to DO much more and the best that one can.
There’s a lot assumptions and downplaying of the UNPREDICTABILITY of life here. Firstly, as a Father of three kids. One needs to ACKNOWLEDGE the facts that bringing A CHILD into this world, much less Singapore, is a HUGH FINANCIAL RISK on the part of the parents. Firstly, a Child LOOKING physically healthy and well when they were born DOESN’T MEAN that they won’t be diagnosed with disorders like Autism when they are unable to hit their first few milestones. Unfortunately, Medical Screenings can only go so far in these day and age. Once that happens, ALL BETS ARE OFF when it comes to any dreams of “financial freedom”… Secondly, I would like to add that milk power of the same brands like Similac for example have DIFFERENT nutritional values between those in Malaysia and in Singapore. So the price difference is not entirely based on the exchange rates. Thirdly, contrary to popular beliefs. The Work culture in Singapore is BRUTAL towards caregivers like parents with young newborns/children or the Sandwich generation. The leaves which the government announced before this year was GROSSLY INSUFFICIENT for WORKING parents to take time off to tend to family needs. What that translates to is A BIG IMPACT on their careers and opportunities. I had a friend whose wife had just gave birth in the past year. His management from ST Engineering Defence Aviation Services gave him a so called “POOR PERFORMANCE” grading for his appraisal, with ZERO bonus and a PIP which follows. The reason? He was taking “too many” of his OFFICIAL unpaid infant care or paternity leaves and it “affected operations”. When told by the Union that they are not allowed to penalised employees on their official statutory benefits. GUESS WHAT?! The management simply CHANGED reasons to other minor factors like lateness or audit compliance. 🤦🏼 So in summary, Once your average Singaporean couple decides to have their first child. Don’t even think of Financial freedoms. That will be the LEAST OF YOUR WORRIES…
I like the topics of this channel. I started following CK first bcos he's the few good SG channel for financial analysis that I can learn from. It's rare. On this topic of work, I wonder if it is possible to turn work into passion? It's not easy but it can be as simple as a change of perpective. I feel that at this day and age, retirement is becoming less relevant. When people retire, they need to hv some plan to occupy their day. If not, it will lead to many socio psycho problems, or they die early, literally. I believe we need to live well regardless of age, and I don't think living well necessarily means money, wealth, luxury. Fun is not same for everyone. I like to travel, see the world, escape into another world every now and then. Even when my job is really busy, I would set aside time for 1 big trip and 2-3 small ones in a year, to recalibrate and restore sanity. My biggest expenses is on my immediate family - parents, siblings, kids, nephews/nieces, aunts. I was able to splurge on some luxury, but it din take long for me to get tired of its superficiality. Afterall it's impt to BE rich than LOOK rich. Before grad fr uni, I preempt that I couldn't get a job. I was v blur, but I know that I dont want to just take any job, or the first offer I get. I turned down offer fr the company I interned at, without any other offer. My folks won't pay a freeloader at home. My thot process is (still) like that: I told myself to do the hardest job when I am young while I am still able; to work damn hard. And then try to be good at what I do, do until I am good at it, perfect it. So, I didn't focus on money, I focus on learning well, until money chase me. Learning can including learning to sell or influence too, not simply technical. I do technical work, it has worked well for me to a large extent. I am a workaholic but I don't complain abt work or long hrs bcos I have devoted so much time to do well, I actually become good at it, and it fueled my "passion", and it doesn't feel like work, tho still physically tired. Sometimes it even feels like people are paying me more and more to learn. Then I count my blessings. I am truly lucky. I made some suicidal career moves like sabbhaticals, a few months to 2-3 years to do whatever. At first, I planned to do nothing, it was hopelessly exasperating, absolutely no fun. I think I was experiencing prematurely how it would be like to "retire" the conventional way, when u suddenly went from somebody to nobody, and nobody cares. I am thankful that I was able to bounce back, I only took paycut 2 times, the biggest when I started my company, I had 0 salary cos it's not profitable. Seeing the world was not at first what I like. Somehow I was willing to take some sacrifice, take break, and checkout other things, turned out to be travelling. It's silly to wait till I am old, look old, can't walk then travel. I don't think I can still carry my backpack, trek, on mountains, or pub crawl at 65. These days maybe more seniors can achieve this, but back when I just started work, I don't think I can, and I still dont think I want to wait till I retire to see the world. However, strangely I believe in delayed gratification. I am selective with my spending, and I can save quite a bit. My goal isn't really to earn a lot of money, I aspire to build a richer soul. So I try my best in everything I do, and I try to be more to experiment things. Just having such a goal, makes for a freaking bz life. I do cut myself some slack, and in fact I try to be more productive and efficient, so I can hv more time to do nothing or do something I like. In the end, most things I do.. they will end up to be what I like. I fail a lot at many things but then I think I do not know if I am a flop until my last breath. Before that, everyone can write me off, I can't and won't. I think this is true for everyone. But we can learn many things in every situation, esp fr failures. Hv a nice day!!
Very good contribution from Eric and Kelvin on motivations behind and the challenges of Entrepreneurship. Please mention more on this topic with regard to your other business owner friends.
Survivorship bias is based on stats. When you put yourself in for a chance, survivorship bias will come in play. Just need to be aware that the odds are against you as ppl who fail never turn up on radio and books but in the cemetery.
I have 4 kids, two boys & two girls (one just graduated, two going uni this year and one doing IB). Having kids will definitely be a strain on the finances. U have to be more creative everything in food, milk, stuffs & travelling. Have 1 HDB & 1 condo fully paid, wife not working. I stayed in HDB being financially very cautions and use condo rental to supplement my income. Having kids is like flowers to an otherwise dull looking plant. They are also fuel & impetus for working very hard and working smart. Children are blessing from God. If God gave he will find a way to help u navigate through life. Love your talk show !!! ❤
You are fortunate to be able to own a flat and a condo and use a condo to supplement your income. I don’t think the newer generations are going to be able to do this, now that new launch condos are going at least 2.5k psf and resale is going about 1.6k psf. BTOs in more desirable locations are going btwn 600-700k and resale is even higher. I do not think that having kids now is actually viable even if one is prudent in spending and investing for the average middle class citizen. Let’s also not forget one also need to set aside some money for own retirement and health needs
The point of trying 100 times with 1% chance of succeeding & that translates to 100% success. It depends whether these events are independent or not. P(A U B) = P(A) + P(B) - P(A n B) . If the last component shows an overlap (for e.g. you keep trying businesses of same nature or your mentality going into these businesses are the same), the original argument fails.
Retirement is not about money. Do you all know the meaning of life? Have you plan what you’re going to spend your time on retirement? At age 50 or 60 you still have 30 to 40 years ahead of you?
Retirement is not about money but you need money to retire. You can plan however you want, but that plan still has to include some money. There is no place in this world, even if you are to stay in the far wilderness, that does not require money directly or indirectly.
Really like this topic. First and foremost, how do u identify poverty? This one is subjective... ppl earning 10k per month compare to someone earning 2k per month doesnt mean anything... U need to know ppl earning 2k can be very happy and to me... the money is good enuff to lead a good life... Good life refer to life they enjoy...This very much depends on life style and your mindset... @kelvin, I know u are living a frugal life... I hope u dun regret it in future.... Rem money are just paper... they only have value when u spend it.... 财产不用，以后就变遗产。I think CK mindset. Nth wrong with spending money on item or hobbies they like bcos it make them happy... Just rem spend within your budget... End of day, everyone will grow old and die... dun wait till 70 80 then u still trying to find happines....
No one eats at toastbox everyday la. So the increase can be tolerated. If you wanna have toasted bread and eggs daily, I suggest you do it at home.. We have to do that for my children almost daily.
just try to find a job in the local job market this year and u will discover you are being ''passed'' over for someone who is cheaper, faster and better (hint: not locals)
somehow or rather the easier first option seems to be not having a kid 😶😶😶😶 even for the poor. with regards to fire burning the ass, only the rich can afford the consequences of the risk. usually the poor cannot and if they fail, ppl will view their choice as a gamble.
Actually u kinda answered the qns, a lot of times money is an excuse, the reason is more of wanting the easier way out. Most ppl like wat Eric says dun wan to step out of the comfort zone. My personal experience is if I didn’t get married and have kids, I’ll be financially worse off now bcuz I can see myself addicted to games, social media, etc and wasting my time away instead of forced to go out and hustle.
@@andyho2059 sounds like it was a worthy risk for you! i feel like these days alot is focused on successes. im not saying to publicise or celebrate failures but unfortunately there's always competition in life, especially if we're aiming upwards. the true tough qns in this generation, is whether what we really want and whether is this sth we want or sth that ppl tells us to want it
@@stan29443It’s a tough qns whether it’s worth it if u ask me. Of course I’m really glad I chose the hard way, but I won’t wan my kids to go thru wat I went thru 😂 cuz it’s really rough. And tis generation psychologically it’s increasingly harder simply bcuz my era, we eat caifan, chicken rice everyday, take public transports, 0 travelling. Diff is everyone else are leading tis lifestyle. However today if u eat caifan everyday, public transports, no entertainment, 0 travel holidays, u are the minority as everyone else are not leading tis lifestyle. Tats why it’s increasingly difficult for the younger generation to delay gratification.
@@stan29443 I can only share my experience but not advise others bcuz even though I achieved a degree of success, I dun wan my kids to go thru my kind of struggles. Contradicting enuf, I’ll definitely say worth it but not recommended 😂
Wait a minute, just some videos back you guys revealed your salary. And now you are saying you guys SAVED 100k from those salary? The math ain't mathing...
What logic is Kelvin on? Go ahead and be prime minister or president of USA, all you have to do is try hard enough and try many times right? I'll personally give you 1 trillion dollars if you become the president of USA. Please go ahead and try.
Thanks for the "casual" talk on working/ starting business etc. Helps to put in perspective about careers , finances, and the catalyst for live changing habits!
i think this video is a must watch for all young people
I honestly dont think life in Singapore is that tough for most of us. We are not a third world country where we STRUGGLE to get clean water, a stable supply of electricity, compulsory education, and assurance of job after graduation. Most of us have university education, a decent job and can afford a roof over our head no matter how small the house is. Just live within our own means. Its that simple, isn't it?
I am the only breadwinner. My wife does part time from time to time but whatever she earns belongs to her and it doesnt contribute towards the household.
Hence i made the decision to get a 3 room bto in non mature estate (280k) to ensure that we live within our means and its just nice for our family of three. We didn't expect to have another child, so right now i have to convert the living room to a bedroom for my second child. But still, in my heart, i feel grounded and secure that finances wouldn't be an issue long term as i dont have to spend my life paying the property.
End of day, we can afford to eat outside at hawker centre and food court anytime and sometimes restaurants without worrying much about our budgets. We can travel pretty modestly overseas. We can take a grab whenever we need to since i don't own a car. And we can afford to let my kids go for extra activities and experience without worrying that it will burn a hole in my pocket.
If you do not need a car to generate income, don't buy a car. SG is so small it is also more environmentally friendly to use public transportation. Everyone needs to be do our own financial planning. Always have to crunch numbers before big decisions. If you love kids, save while you educate them. Your income will also grow marginally every year. You cannot have the best of all worlds but we need to have realistic goals in life.
@@boonbeesim7883 sound suggestion
Agreed. Life's hard but compared to other countries, inflation is hitting Singapore LESS and housing multipliers to salary averages are REASONABLE in SG as well. There were stats put up that although higher costs affect us all - SG has it VERY VERY VERY good. The issue here is that job salary ceilings and generational wealth is very dictated by your family SES - which Singapore hates to accept how many people get passed down money. There needs to be more transparency behind nepotism in a small country where born-into connections = EVERYTHING.
Keep coping 😂
Greeting from Melbourne. I have started watching your youtube channels more regularly now. Good job.
Is it easy to retire in Aussie ?
A right partner is 50% of chances to be successful in life.
really appreciate such podcasts showing the everyday financial experiences of Singaporeans... A bit depressing sometimes so I'll go watch something more positive later HAHA but the essential thing is that it's realistic... Not v focussed on data but these anecdotal experiences can be educational too
My take, it’s not worth to buy property in Sg anymore after 2010. Cos’ a typical 3bd room is 2mio dollar, and The problem is that the bed room is very very small. It’s better to get a cheap HDB and park your other investement elsewhere to grow.
Smart Singaporeans with good overseas education are in great demand in developed countries. Can migrate there less stressful working lifestyle and cheaper and good freehold properties.
I think it's the same as most places. The location you picked for your home determines the cost. Pick a super inconvenient location, old HDB, etc. There are choices and trade offs.
Why own a car before having a kid, then questioned by wife that your salary is not enough. Isn't this lifestyle choice in the first place?
You can choose to take public transport, then the car money will be saved and can relax and feed your kid comfortably with 4k+ salary isn't it?
I agree that car is just an unnecessary expense unless you have to care for someone who is physically disabled or your job requires you to be all over Singapore.
There's alot of complaints from singaporeans that young families need car to bring their kids out. Well, I bring my two children out using public transport. There are multiple times that my toddler will cry, whine, throw tantrum in the bus and mrt but I just stay calm and DON'T BOTHER how others will think and feel. I just focus on my kids and respond to their needs.
I believe that Singaporeans are gracious lot of people. Plus there's pretty much nothing you can do when you handle a baby/toddler. They haven't understood the social norms yet. And about getting seats on public transport, alot of toddlers don't wanna sit down. They prefer the parents to stand when using carrier. And if need to, I will just ask nicely for a seat. No one has rejected me for the past nine years.
Good advice from Kelvin, keep trying until you succeed. That's what i tell myself when i buy Toto, keep buying until i hit the jackpot🤣
😂
I think young people fear the unknown, fear of responsibility, that's why don't want to have kids. Perhaps we need more people that have "gone thru the journey" to share their experiences, then they can make a better informed decision. I used to think having kids will cost a bomb, but actually how much it cost largely depends on the parents. I think CNA have done a few series where people in poverty in Singapore are also having 3-4 kids.
My advice to ppl coming from poor or less well to do families, just go for sales or try out biz. If u are concerned abt capital to start a biz then just go for a sales role. The thing abt sales is not just the ability to make more $, it’s abt the training, exposure to learning how businesses make $ bcuz sales is always on the frontline, building a network with ppl in the industry (colleagues, bosses) and oso the ppl u meet (prospects, customers)
Tats when u will become more resourceful over time.
Wat if u fail? Then find another sales job and restart, at some point u probably meet a very good boss/mentor/client, just tat someone who enlightens u to the path to success.
to eric: siamtu mainly refers to thai disco outlets where u pay the gals for drinking with you and buy expensive flowers to give to the singers
If you were born poor, it's not your fault. If you die poor, it's your fault. Not I say one hor. 🙊
Especially in Singapore. Ok. This one I say one 😎
Reached ,the end of happy days😮
I been worked in singapore, and their spendings habit is absurd. Want popular stuff, want go trip to other country 1 -2 times per year, want eat nice food everyday and weeks, subscriptions on whatever apps and clubs, and still expect want to retire with a lot of money. Control your spendings before complaining.
I do respect some singaporeans who save, but most i seen are just spend a lot while complaning, you all want many things, and think those stuff are "normal" standards. Those are not normal at all, those are luxuries, look at how real normal people live, malaysia , other country what so ever.
You can save more if you are not paying for housing. And i see more youngsters are living with their parents instead of paying for houses, and your inflation rate is much lower compare to malaysia in terms of salary to product ratio. All you know is complain only
Aim of holding a wedding ceremony is not to show off how rich you're or show off how pretty your wife. The aim is to share your joy of getting married (one of the big life milestones in your life). Going to a wedding ceremony is you are happy that the bride/groom are married and happy to witness that.
Just get your kids to love reading! Library books and resources are great!
I spent all my life paying for my property, now worth S$2.5million...but cash wise....really negligible. I am retiring soon. Assuming I don't downgrade because I don't want to give up the place I have been living in for the last 2 over decades, I have no cash to spend in my retirement. In other words, I have to keep working until I die. I am no different from a fresh grad 30 over years ago just starting out, working to survive. Some people tell me to sell the property and go buy a small flat to get the money...but then my lifestyle will be thrown out the window...whats the point of having some cash but the lifestyle and familiarity you have been living all your life is totally lost???
My advice to youngsters is to enjoy your life as it is and don't look too far ahead...no point. Want to marry, just marry. Firstly you don't know if you will reach that old age, Secondly if you deprive yourself too much you may not get the health to enjoy what you had accumulated, Thirdly in the best case scenario, even if you hit the target and had enjoyed yourself but no family...its the end of the road...whats your legacy? Nothing. You cannot have it both ways.
Down sizing your home is a sensible way to start retirement life. By doing so, you have more cash flow to enjoy better retirement living.
Choose lifestyle or choose to work till the end. 😂
@@longyang888 Imagine this, I give you extra $4k every month you don't need to work...but you must not live in your landed property with your little yard and koi pond, listening to your canaries singing in a three storied house. You have to go share your corridor with a line of other hdb dwellers who will likely clutter the access with their shoe racks, exchange your yard with a void deck and replace your koi pond with a fish bowl/aquarium. while squatting in a four walled apartment counting down your days. You want?
Can try renting out one of your rooms for rental income.
@@marvelcomiks8078 I guess to each his own... feel free to work till the day you die. I retired at 45.
not really all worked till last breathe, some i know have retired when their kids got married
@@PaganMin-1966 How many? Only a few. Most need to work and work
It is important to dream big, bigger than what u can afford now, because otherwise u do not have a motivation to DO much more and the best that one can.
There’s a lot assumptions and downplaying of the UNPREDICTABILITY of life here. Firstly, as a Father of three kids. One needs to ACKNOWLEDGE the facts that bringing A CHILD into this world, much less Singapore, is a HUGH FINANCIAL RISK on the part of the parents.
Firstly, a Child LOOKING physically healthy and well when they were born DOESN’T MEAN that they won’t be diagnosed with disorders like Autism when they are unable to hit their first few milestones. Unfortunately, Medical Screenings can only go so far in these day and age. Once that happens, ALL BETS ARE OFF when it comes to any dreams of “financial freedom”…
Secondly, I would like to add that milk power of the same brands like Similac for example have DIFFERENT nutritional values between those in Malaysia and in Singapore. So the price difference is not entirely based on the exchange rates.
Thirdly, contrary to popular beliefs. The Work culture in Singapore is BRUTAL towards caregivers like parents with young newborns/children or the Sandwich generation. The leaves which the government announced before this year was GROSSLY INSUFFICIENT for WORKING parents to take time off to tend to family needs. What that translates to is A BIG IMPACT on their careers and opportunities.
I had a friend whose wife had just gave birth in the past year. His management from ST Engineering Defence Aviation Services gave him a so called “POOR PERFORMANCE” grading for his appraisal, with ZERO bonus and a PIP which follows. The reason? He was taking “too many” of his OFFICIAL unpaid infant care or paternity leaves and it “affected operations”. When told by the Union that they are not allowed to penalised employees on their official statutory benefits. GUESS WHAT?! The management simply CHANGED reasons to other minor factors like lateness or audit compliance. 🤦🏼
So in summary, Once your average Singaporean couple decides to have their first child. Don’t even think of Financial freedoms. That will be the LEAST OF YOUR WORRIES…
As long one stays healthy, is still OK.
But once kena long term health issue, suck not only into saving, but even asset
Nothing is free in life. There is a price tag for everything. It is your choice what u value more.
No easy life in SG. Food getting expensive, property also expensive, today end Dec bus fare up again … confirm work till I die
I like the topics of this channel. I started following CK first bcos he's the few good SG channel for financial analysis that I can learn from. It's rare. On this topic of work, I wonder if it is possible to turn work into passion? It's not easy but it can be as simple as a change of perpective. I feel that at this day and age, retirement is becoming less relevant. When people retire, they need to hv some plan to occupy their day. If not, it will lead to many socio psycho problems, or they die early, literally. I believe we need to live well regardless of age, and I don't think living well necessarily means money, wealth, luxury. Fun is not same for everyone. I like to travel, see the world, escape into another world every now and then. Even when my job is really busy, I would set aside time for 1 big trip and 2-3 small ones in a year, to recalibrate and restore sanity. My biggest expenses is on my immediate family - parents, siblings, kids, nephews/nieces, aunts. I was able to splurge on some luxury, but it din take long for me to get tired of its superficiality. Afterall it's impt to BE rich than LOOK rich. Before grad fr uni, I preempt that I couldn't get a job. I was v blur, but I know that I dont want to just take any job, or the first offer I get. I turned down offer fr the company I interned at, without any other offer. My folks won't pay a freeloader at home. My thot process is (still) like that: I told myself to do the hardest job when I am young while I am still able; to work damn hard. And then try to be good at what I do, do until I am good at it, perfect it. So, I didn't focus on money, I focus on learning well, until money chase me. Learning can including learning to sell or influence too, not simply technical. I do technical work, it has worked well for me to a large extent. I am a workaholic but I don't complain abt work or long hrs bcos I have devoted so much time to do well, I actually become good at it, and it fueled my "passion", and it doesn't feel like work, tho still physically tired. Sometimes it even feels like people are paying me more and more to learn. Then I count my blessings. I am truly lucky. I made some suicidal career moves like sabbhaticals, a few months to 2-3 years to do whatever. At first, I planned to do nothing, it was hopelessly exasperating, absolutely no fun. I think I was experiencing prematurely how it would be like to "retire" the conventional way, when u suddenly went from somebody to nobody, and nobody cares. I am thankful that I was able to bounce back, I only took paycut 2 times, the biggest when I started my company, I had 0 salary cos it's not profitable. Seeing the world was not at first what I like. Somehow I was willing to take some sacrifice, take break, and checkout other things, turned out to be travelling. It's silly to wait till I am old, look old, can't walk then travel. I don't think I can still carry my backpack, trek, on mountains, or pub crawl at 65. These days maybe more seniors can achieve this, but back when I just started work, I don't think I can, and I still dont think I want to wait till I retire to see the world. However, strangely I believe in delayed gratification. I am selective with my spending, and I can save quite a bit. My goal isn't really to earn a lot of money, I aspire to build a richer soul. So I try my best in everything I do, and I try to be more to experiment things. Just having such a goal, makes for a freaking bz life. I do cut myself some slack, and in fact I try to be more productive and efficient, so I can hv more time to do nothing or do something I like. In the end, most things I do.. they will end up to be what I like. I fail a lot at many things but then I think I do not know if I am a flop until my last breath. Before that, everyone can write me off, I can't and won't. I think this is true for everyone. But we can learn many things in every situation, esp fr failures. Hv a nice day!!
I own 10 gold fishes and one rabbit and it cost me very little money
Really depends on your life styles and not your pay. We all need to adjust as we aged😅
Very good contribution from Eric and Kelvin on motivations behind and the challenges of Entrepreneurship. Please mention more on this topic with regard to your other business owner friends.
Survivorship bias is based on stats. When you put yourself in for a chance, survivorship bias will come in play. Just need to be aware that the odds are against you as ppl who fail never turn up on radio and books but in the cemetery.
thoughts on PLTR entering s&p500?
I have 4 kids, two boys & two girls (one just graduated, two going uni this year and one doing IB). Having kids will definitely be a strain on the finances. U have to be more creative everything in food, milk, stuffs & travelling. Have 1 HDB & 1 condo fully paid, wife not working. I stayed in HDB being financially very cautions and use condo rental to supplement my income. Having kids is like flowers to an otherwise dull looking plant. They are also fuel & impetus for working very hard and working smart. Children are blessing from God. If God gave he will find a way to help u navigate through life. Love your talk show !!! ❤
You are fortunate to be able to own a flat and a condo and use a condo to supplement your income. I don’t think the newer generations are going to be able to do this, now that new launch condos are going at least 2.5k psf and resale is going about 1.6k psf. BTOs in more desirable locations are going btwn 600-700k and resale is even higher.
I do not think that having kids now is actually viable even if one is prudent in spending and investing for the average middle class citizen.
Let’s also not forget one also need to set aside some money for own retirement and health needs
The point of trying 100 times with 1% chance of succeeding & that translates to 100% success. It depends whether these events are independent or not. P(A U B) = P(A) + P(B) - P(A n B) . If the last component shows an overlap (for e.g. you keep trying businesses of same nature or your mentality going into these businesses are the same), the original argument fails.
Does networth include all the cpf accts?
Retirement is not about money.
Do you all know the meaning of life?
Have you plan what you’re going to spend your time on retirement?
At age 50 or 60 you still have 30 to 40 years ahead of you?
Retirement is not about money but you need money to retire.
You can plan however you want, but that plan still has to include some money.
There is no place in this world, even if you are to stay in the far wilderness, that does not require money directly or indirectly.
Why nobody react to Kelvin's "SPRAY AND PRAY" LOL
😂
No active income difficult to survive in Singapore.
Wah CK is a white horse ah? So lucky kena driver vocation?
From the wedding debate, it is pretty still practical for "Ang Bao" money. In this generation was well protected by well-off parent.
Really like this topic. First and foremost, how do u identify poverty? This one is subjective... ppl earning 10k per month compare to someone earning 2k per month doesnt mean anything... U need to know ppl earning 2k can be very happy and to me... the money is good enuff to lead a good life... Good life refer to life they enjoy...This very much depends on life style and your mindset... @kelvin, I know u are living a frugal life... I hope u dun regret it in future.... Rem money are just paper... they only have value when u spend it.... 财产不用，以后就变遗产。I think CK mindset. Nth wrong with spending money on item or hobbies they like bcos it make them happy... Just rem spend within your budget... End of day, everyone will grow old and die... dun wait till 70 80 then u still trying to find happines....
So good that most of you not Singaporean. Still got other place to zao to
2 of them are ex-malaysians
@@kaiserlow652ex Malaysian also have family there. So can inherit their Huat land and property there 🎉 Huat in malaysia and Huat in singapore
Can someone please talk about Toastbox recent price increase for basic set A from $6.20 to $7.40 . 2 eggs cost $3.10 . wow ...
Can go ya kun 😆
No one eats at toastbox everyday la. So the increase can be tolerated. If you wanna have toasted bread and eggs daily, I suggest you do it at home..
We have to do that for my children almost daily.
@@lecherhao86 Lecher ? wow ...ok
@@davidwong7283 bro.. you're focusing on the wrong thing lah. 😂
Why would u use the “ lecher “ word as your nickname ? Mind boggling .
Should get AK71 on yr channel
just try to find a job in the local job market this year and u will discover you are being ''passed'' over for someone who is cheaper, faster and better (hint: not locals)
😱
Tell me in which country you don't have to work and $$ drops from the sky :)
somehow or rather the easier first option seems to be not having a kid 😶😶😶😶 even for the poor.
with regards to fire burning the ass, only the rich can afford the consequences of the risk. usually the poor cannot and if they fail, ppl will view their choice as a gamble.
Actually u kinda answered the qns, a lot of times money is an excuse, the reason is more of wanting the easier way out.
Most ppl like wat Eric says dun wan to step out of the comfort zone. My personal experience is if I didn’t get married and have kids, I’ll be financially worse off now bcuz I can see myself addicted to games, social media, etc and wasting my time away instead of forced to go out and hustle.
@@andyho2059 sounds like it was a worthy risk for you! i feel like these days alot is focused on successes. im not saying to publicise or celebrate failures but unfortunately there's always competition in life, especially if we're aiming upwards. the true tough qns in this generation, is whether what we really want and whether is this sth we want or sth that ppl tells us to want it
@@stan29443It’s a tough qns whether it’s worth it if u ask me. Of course I’m really glad I chose the hard way, but I won’t wan my kids to go thru wat I went thru 😂 cuz it’s really rough. And tis generation psychologically it’s increasingly harder simply bcuz my era, we eat caifan, chicken rice everyday, take public transports, 0 travelling. Diff is everyone else are leading tis lifestyle. However today if u eat caifan everyday, public transports, no entertainment, 0 travel holidays, u are the minority as everyone else are not leading tis lifestyle. Tats why it’s increasingly difficult for the younger generation to delay gratification.
@@stan29443 I can only share my experience but not advise others bcuz even though I achieved a degree of success, I dun wan my kids to go thru my kind of struggles. Contradicting enuf, I’ll definitely say worth it but not recommended 😂
Only need 500k if my kid is ivy league material.
Children expensive.
SG is a great place to find money but not for retirement
why cant Kelvin just clean up his room/background or at least try to look presentable himself? he looks like a coffeeshop uncle that just woke up
Wait a minute, just some videos back you guys revealed your salary. And now you are saying you guys SAVED 100k from those salary? The math ain't mathing...
成家立业
Like this kind of podcast and UA-camr that make sinkies think, blue pill or red pill. Like in the matrix system. Or animal farm
Work. Make Singapore rich. make S REITs Huat. Make v bloggers sound smart while the rest slog.
What logic is Kelvin on? Go ahead and be prime minister or president of USA, all you have to do is try hard enough and try many times right? I'll personally give you 1 trillion dollars if you become the president of USA. Please go ahead and try.
'force to do fake news '