Why Are Hard-Working Singaporeans Still Poor Even After Years of Saving Diligently?

Your morning routine is simple. You wake up. Get your morning coffee. Then make the trip to work. The cycle repeats the next day and you think, “Here we go again.” Every day it’s the same routine. And every month, you get the same outcome: a fixed salary. It’s the paycheck you and your family rely on to make ends meet. Every month, it’s the same old story.

Do you remember when you were able to enjoy a cup of kopi for barely a dollar? Or when bak chor mee was less than half the price it’s being sold for today?
Because we certainly don’t.

Nowadays, Singapore is known as the hub of innovation and in turn, it has also become the hub of ridiculous prices. Our economy has evolved into a utopia for outsiders to come in and revel in our nation’s resources and increasing capabilities. More tech start-ups are coming in. More foreigners are living on our land. Everywhere you look, the ones who are enjoying what our forefathers built are the ones who never had to break their backs to work for it. You can say that this economic expansion has propelled our great nation to become a formidable powerhouse worldwide.

But at what cost?

The Cost of Living Does Not Meet The Average Singaporean’s Standard of Living

The movie ‘Crazy Rich Asians’ puts Singapore in a spotlight of luxury and bourgeois living. Media has long portrayed the shiny bright side of our country for its high-tech infrastructure, absurdly strict laws and the warm welcome of the zero-to-one start-up hype. We earned a reputation for being one of the world’s most expensive cities to live in.
Only the real citizens of the country know that there’s a battle with modern-day poverty. The story of the typical Singaporean goes that they are Asset Rich and Cash Poor. So yes, while we can get that house we were all told we needed since young to secure our future… consequently, we have also secured a cumbersome debt that would typically last 10 to 15 years. Thus, making it a liability. And what for?

“Enjoying the Sunday paper before starting work again to pay off debts”

 

The household debt crisis that has crippled us for years has been disruptive. Not just on the economy. Not just on its citizens. But also on our overall well-being. One prime example is of Mr T who is a senior executive in the telecommunications industry in his late 40s. He owns a few private properties and is burdened with a monumental loan of nearly $2 million. Each night he struggles to sleep as the deficit grows and he worries that he is spending more than he owns. Or worse… spending money he doesn’t have.

His story is neither unique nor common. Many of us aspire to build our wealth to keep up with the rapid socio-economic landscape. The symbol of affluence has long been associated with the pursuit of the “property dream”. However, it isn’t feasible for everyday Singaporean. Not by a mile. The current property price tags are set to cater to those who are within the wealthier bracket of the population. Too many of us are forced to take incredibly high mortgages and unattractive returns.

The property dream should no longer be the goal of the modern-day Singaporean. Robert Kiyosaki, the author of ‘Rich Dad, Poor Dad’, has redefined the word asset as “things that put money in one’s pocket” and not something that in turn makes one poorer. Popular assets today come in the form of stocks

Therefore, we should all set out to redefine our wealth by learning how to invest our money. Trading is one of the most powerful money-making tools that you can add to your arsenal in the war against economic struggle.

2 out of 3 Singaporeans Can’t Retire At Their Desired Age

Have you ever wondered why Singaporeans do not retire early?
You see our oldest population constantly working. Day in. And day out.
The aunties and uncles who are struggling are your children’s teachers, your bus drivers, your butchers, your neighbours, your mother, your grandmothers, and maybe even you too.

 

“Ageing population but still working”

 

A couple of months ago, the latest Household Expenditure Survey conducted its every-five-years research and revealed that retiree households living in HDB flats receive an average of $1,522 each month; the majority of which comes from the income of their children or other family members. The survey also indicates that 62% of Singaporeans are not saving enough to be able to retire. Our very own Manpower Minister, Josephine Teo, has recently announced that the retirement age in Singapore will raise “although when and by how much is yet to be determined”.

“Oldest working hawker at age 90 and still working”

 

Ms Leong Yuet Meng of Nam Seng Wanton Noodle House is a 90-year-old known as the oldest working hawker in the country. This ah ma wakes up at 4.30 am every morning to prep her stall while most of us are still sound asleep. This has been her life for the past 60 years. Although she is happy with her life, she does not wish for this to be the case for her grandchildren.

The sad reality is that retirement adequacy in Singapore has been at the bottom of the priority list amongst our policymakers for the longest time. To accommodate the globalisation and technological growth, something had to give. Unfortunately, we have become collateral damage in our country’s hunger for prosperity.
The best plan of action to safeguard your future is to learn from the mistakes of our elders. Too many of them relied on their savings only to find out that they’ve collected dust. If more of our retirees had learnt the financial secret of investing their savings, then they wouldn’t have come to dread retirement.

So what can you do to make your money work for you

Singaporeans Are Relying Solely On Saving Instead of Investing

“John, surname unknown, runs ESI Money”

 

John runs a popular finance blog called ESI Money and has an impressive online following due to his financial acumen. Thus, making himself a millionaire able to retire by the age of 52. He’s a big advocator of what he claims to be “three simple steps to wealth” which are Earn, Save, Invest. Hence, the name of his blog. However, these steps have eluded too many of our citizens.

Back in the 1960s, there was a modest vegetable and fruit farm in the heart of Jurong. It was run by Madame J. Due to the Land Acquisition Act, her farm was seized by the government who compensated her $20,000. Her first act was to put all that money in the bank. She spent her entire life living in a religiously frugal fashion and only making limited withdrawals until she passed away at 98 years old. She thought that 50 years of earning bank interest rates would leave her children with a handsome sum. But she was sadly mistaken. Upon checking, her children found only $15,000 in her bank.

Madame J’s story would have had a different ending had she invested her money. She could have possibly left her children with a few million dollars if her money had worked instead of staying quiescent.

 

We’ve all seen the get-rich-quick schemes and scams that plague this nation. We’ve grown desensitized to the ads promising us fortune overnight. We’ve grown tired in believing that our current income is enough to sustain our livelihoods. We’re exhausted.

Alas, there is always a way out. A break. And hopefully, for most of you, your soon-to-be big break. Seeing as how most of the rich stay rich by saving what they’ve earned and then investing what they’ve saved… We can also do the same and emulate their success.

“Rayner Teo, founder of TradingwithRayner”

Rayner Teo is an independent trader who founded TradingwithRayner and currently sets the bar as the most followed Trader in Singapore. His list of accolades doesn’t stop there as he was also voted Top 5 Most Help Traders on Twitter, with a following of 75,000 devout traders who religiously read his blog each month.

As a young man, he was enlisted into the 1st Commando battalion for his national service. During his time in the army, he read a book called ‘Secrets Of Self-Made Millionaires’ by Adam Khoo where he learnt a valuable lesson that even his academic career at the University of London couldn’t teach him; there is more to life than just working for somebody and that’s what prompted Teo to begin his journey in trading.

Simon Thinks She Can’t Sing Alicia Keys’ Classic, But Guest Judge Forced To Slam Golden Buzzer

It didn’t seem like the judges were at all skeptical because they’d seen what Angelica was capable of the last time she stepped on the show. But after watching their reaction, you can tell that she did A LOT better than they had expected! So much so that the guest judge was blown away by her power-packed performance!

Chris Hardwick quickly recognized Angelica’s potential and couldn’t wait for the performance to be over, so he can tell her just how awesome she is! As soon as she’s done singing, the cameras are directed to Chris who’s sitting with his mouth wide open. Watch as he goes on to praise the girl for her magnificent voice and talent.

But, that’s not all! He’s so impressed that he makes Angelica the “chosen one” by hitting the golden buzzer; the little girl was ecstatic, and so were her parents, who were seen hugging and crying at their daughter’s success.

Watch the amazing performance in the video below. If you’re a fan of Angelica, then don’t forget to like and share this post with family and friends!

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Young Piano Prodigy Hears Grandma’s Dream To See Him Live, So He Puts On Private Recital

Although Dorothy has been a fan of his since his early years with the piano, she’s always been hard of hearing and couldn’t fully enjoy his music. So Ryan wanted to do something special for “Grandma Dorothy,” as he calls her. He called her in for a special private recital, and she was his only audience member.

Dorothy was asked to sit right beside him on his bench so she can take advantage of his music and piano skills as close as possible. She was thrilled, and touched, by the entire experience.

Ryan has won the hearts of millions of people around the world—he’s made appearances on Ellen and has played at Carnegie Hall. But more than his talent, people love his kindheartedness. He said that he likes to play for Grandma Dorothy because it makes him happy. Now can a 5-year-old get sweeter than that?

Watch Ryan’s private recital for Dorothy in the video below. If you loved the performance as much as we did, then please like and share this post with family and friends! We’re sure it’ll touch everyone’s hearts.

Jimmy Is In Hysterics When Comedian Impersonates Famous Celebrity And Nails It

One of my favorite Jimmy Fallon segments is the “Wheel of Musical Impressions.” The concept is simple, but there are so many opportunities for hilarious results. Here are the basics: the wheel spins and gives the guest two guidelines. They get a famous artist and a well-known song. The two aren’t related, and the combinations are usually silly—a Grammy-winning artist and a television commercial jingle is a good example. So, not only does the guest have to impersonate a very famous singer in a recognizable way, they have to do it to a silly song. After the guest goes, Jimmy then takes a turn at the wheel.

You may recognize Jamie Foxx from his prolific career and even know that he can sing, but I had no idea he could sing like this. When he did Mick Jagger singing “Hakuna Matata,” not only was I impressed with his vocals and awesome physical impression, but I couldn’t stop laughing. He goes all out in his impressions. But, it only gets better from there.

Watch to see what the wheel has in store for Jamie and Jimmy and don’t forget to like and share this post!

 

Crew Member Tells Mom To Get Off Plane. When She Asks Why, They Say She Can’t Go Home Just Yet.

Peggy Uhle was on Southwest Airlines flying from Chicago to Columbus, Ohio, when the taxiing plane suddenly took a turn back towards the gate. As the plane approached the gate, a flight attendant told Peggy that she’d have to get off the plane. Here’s where stories usually turn nasty, but not this one.

The gate agent told her to call her husband as soon as possible and this distracted Peggy from thinking that she was on the wrong flight. It’s when she called her husband that she got to know that their son had sustained a head injury and had slipped into a coma. At this point Peggy frantically thought of what she can do to get to her son as soon as possible. But then came another (more pleasant) surprise—the airline had already made all the arrangements for her.

“The gate attendant already knew the situation and had booked me on a direct flight to Denver that was leaving in the next two hours,” she said. “They offered a private waiting area, rerouted my luggage, allowed me to board first, and [even] packed a lunch for when I got off the plane in Denver.” Peggy says that Southwest not only got her luggage delivered to where she was staying but also called to check in on her son. Now that’s something that’s almost unheard of these days! And the cherry on top is that they didn’t charge her for any of these services. So amazing.

Peggy’s son did sustain serious head injuries but is on his way to recovery. And thanks to Southwest Airlines, she was able to be by her son’s side as soon as she heard the news.

If you were as amazed by what Southwest did for this passenger, then don’t forget to like and share this post!

 

Lioness Gives Birth To Newborn Cub, Minutes Later The Man Tries To Pick It Up

But for this South African zookeeper, Kevin Richardson, hanging out with lions all day is just one of the many things he does without a care in the world. In fact, he’s even built up such a special relationship with a stunning lioness, which he can play with her newborn babies with the trust and love from their mother.

In the video below, you will see the beautiful lioness giving Richardson hugs and kisses while he creates the footage. Then, he moves on to play with the little cubs who are just too cute for words. Eventually, he places the little ones next to their mother who is excited to see them and even gives them an opportunity to meet with their dad—they can roam freely with dad after eight weeks.

Give the video a watch and see how amazing these adorable animals interact with their human friend. And if you’ve loved it, be sure to like and share with your nearest and dearest!

Bride Recites Vows At Her Wedding Ceremony But All The Crowd Hears Are Sudden, Loud Sobs

In it, you’ll see the bride, Emily Leehan, and groom, Josh Newville standing at the altar together along with Newville’s four-year-old son. But what makes this wedding even more special is the fact that Leehan had prepared a few special words for her new stepson—words so powerful that after a few mere seconds, the young boy begins to cry uncontrollably.

The little boy then has no choice but to hug his new mom and then his dad out of love and adoration. It is safe to say that this young man is just as excited as both the bride and the groom to start their new life together. It is a moment that is spectacular, precious and heartwarming. It is so magical in fact that it has gone completely viral—no doubt because millions worldwide believe in true and pure love.

See the tear-inducing video below and if you’ve been moved, do like and share it with your family and friends. We wish this beautiful family a wonderful life together with many blessings and lots of smiles!

80-Year-Old Homeless Pianist Plays Street Piano, Performs Classic Piece That’s Going Viral

80-year-old Natalie is a trained classical pianist. She has been well-known in the Melbourne area for years and has been mesmerizing her audience for decades. So with her talent in mind, the video shared in this post comes as no surprise. Something interesting to note is that the piece she’s playing in the video was composed by the pianist herself; Natalie was 13 or 14 years old when she composed it.

Natalie’s life has been plagued with negativity, and her journey thus far hasn’t been easy. According to the Daily Mail, she has suffered the death of her two daughters, been homeless, and had stints of bad health.

She has looked for opportunities to play the piano for passersby. Natalie looks for pianos set up on display in streets and stores to serenade people.

The melody in the video below is almost magical to listen to. It can really calm you down and take you into a very peaceful world.

Listen to Natalie play her composition in the video below. If you enjoyed this piece as much as we did, then don’t forget to like and share her talent with family and friends.

Baby Absolutely Loves Her Babysitter And He’s Not The Average Sitter We Always See

They’re goofy, happy, and always come when they are called. They also make excellent bed warmers. On the other hand, my kitty cat is aloof and somewhat anti-social. She doesn’t mind my affections and doesn’t return them very often, but when she does choose to cuddle with me, I can’t help but feel extra special. She fits the classic definition of a cat, but the adorable kitty in this video doesn’t.

The cat is this video is cuddly and affectionate and has found his perfect friend. Watson loves his new baby sister, showing her all kinds of affectionate behaviors and never appearing grumpy or aggressive towards the tiny interloper. The little girl is also delighted with her new pal. As she rolls and scoots around her blanket on the floor, she can’t help but smile at her kitty bestie. These two best friends are adorable, it’s no wonder their friendship is going viral. Like and share the video with the animal lovers in your life!

As she rolls and scoots around her blanket on the floor, she can’t help but smile at her kitty bestie. These two best friends are adorable, it’s no wonder their friendship is going viral. Like and share the video with the animal lovers in your life!

Watch them bonding in the video below and like and share the post with the animal lovers in your life!

Keith Urban’s Cover Of "To Love Somebody" Leaves Popular Singer Barry Gibb In Tears

Together, these siblings managed to create a sound that many artists today are still trying to cover and recreate. Recently, a concert entitled, “Stayin’ Alive: A Grammy Salute to the Music of the Bee Gees” was organized to honor this group of brothers. This concert was put in motion to pay tribute to the Gibb brothers, and luckily, Barry was able to be the guest of honor.

As several artists took a crack at recreating their classic songs, one artist completely stood out. Keith Urban, a New Zealand-born Australian-American country singer, stood up on the stage and persisted to sing his entire heart out. The sheer rush of emotions flooded, leaving the audience speechless, including Barry Gibb himself. His facial expression said it all—he completely appreciated and loved the tribute that Keith gave.

Watch the video of Keith singing the popular song, “To Love Somebody,” and if you’ve loved the video, be sure to share it with your family and friends.