View Full Version : 70 year old man has Joo Chiat terrace but has little money
princess_morbucks
03-12-13, 16:39
http://news.omy.sg/News/Local-News/Qi-Xun-Weng-Wei-Shou-Bai-Mo-Zu-Wu-2Yuan-Cai-Fan-Chi-2Tian-225217
本地出现“新贫族”，有房有地没现金，有七旬老翁为守住160万元的“祖屋”，2片面包当“早午餐”，2元菜饭吃两天。
已退休的陈老先生（70岁）的父亲，60年代买下位于如切集选区一带的排屋，当时花了8万多元，现在价值约160万元。
陈老先生在30多年前与妻子分居，父亲过世后，和老母相依为命。
他受访时说，原本在建筑公司任职时，生活还过得去，可是为了照顾生病的老母，15年前退休，两人靠积蓄过活。5年前，他拿出3万元给出国留学的儿子当学费及生活费，自己就剩下两三千元。
母亲在三四年前过世，日子过得十分清苦，只靠着儿子每月约500元的生活费过活。
From Google translate :
Local appear "new poor family," there is room to no cash, there are seventy man to hold 1.6 million yuan of "ancestral home", 2 slices of bread when the "brunch", 2 yuan dish eat for two days.
Retired Mr Chen (70 years old) father, bought the 1960s is located along Joo Chiat GRC townhouses, then spent more than 80,000 yuan, now worth about $ 1.6 million.
Mr Chen and his wife separated 30 years ago, after his father died, and the mother had each other.
He said in an interview, had worked at the construction company, life is also decent, but in order to care for a sick mother, retired 15 years ago, they rely on their savings to live. Five years ago, he took 30,000 yuan to study abroad tuition and living expenses when his son, himself remaining two or three thousand dollars.
Mother died four years ago, life is very hard, relying only living son of about 500 per month to live.
https://pbs.twimg.com/media/BajRcqfCMAARoNk.png:large
Rent out rooms or sell the house got alot of money liao. :doh:
He is a lot better off than a lot of other poor folks who dun even have a HDB to call their own.
http://news.omy.sg/News/Local-News/Qi-Xun-Weng-Wei-Shou-Bai-Mo-Zu-Wu-2Yuan-Cai-Fan-Chi-2Tian-225217
本地出现“新贫族”，有房有地没现金，有七旬老翁为守住160万元的“祖屋”，2片面包当“早午餐”，2元菜饭吃两天。
已退休的陈老先生（70岁）的父亲，60年代买下位于如切集选区一带的排屋，当时花了8万多元，现在价值约160万元。
陈老先生在30多年前与妻子分居，父亲过世后，和老母相依为命。
他受访时说，原本在建筑公司任职时，生活还过得去，可是为了照顾生病的老母，15年前退休，两人靠积蓄过活。5年前，他拿出3万元给出国留学的儿子当学费及生活费，自己就剩下两三千元。
母亲在三四年前过世，日子过得十分清苦，只靠着儿子每月约500元的生活费过活。
From Google translate :
Local appear "new poor family," there is room to no cash, there are seventy man to hold 1.6 million yuan of "ancestral home", 2 slices of bread when the "brunch", 2 yuan dish eat for two days.
Retired Mr Chen (70 years old) father, bought the 1960s is located along Joo Chiat GRC townhouses, then spent more than 80,000 yuan, now worth about $ 1.6 million.
Mr Chen and his wife separated 30 years ago, after his father died, and the mother had each other.
He said in an interview, had worked at the construction company, life is also decent, but in order to care for a sick mother, retired 15 years ago, they rely on their savings to live. Five years ago, he took 30,000 yuan to study abroad tuition and living expenses when his son, himself remaining two or three thousand dollars.
Mother died four years ago, life is very hard, relying only living son of about 500 per month to live.
https://pbs.twimg.com/media/BajRcqfCMAARoNk.png:large
Mr Chen should take out a bank equity loan on his property. Or consider the reverse mortgage.
aiyah they just want to complain. can rent out room. can sell down grade can rent out the whole house an go rent a 3 bed room from HDB, can rent out go rent a place in JB
so many bloody options. and he is lucky his father have foresight. what abt those who dont have a father that have the foresight leh?
:doh::doh::doh:
just whine whine lee you say sentimental value. then to me he is not really in need. Those in real need will not look at sentimental value. its survivor.
to me this 1 is classic whinny singaporean. a tree hugger.
Anyway so old liao 70yrs have to clean the big place not siong meh? aiyoh..
Totally agree with you bro. Fked up mentality.
aiyah they just want to complain. can rent out room. can sell down grade can rent out the whole house an go rent a 3 bed room from HDB, can rent out go rent a place in JB
so many bloody options. and he is lucky his father have foresight. what abt those who dont have a father that have the foresight leh?
:doh::doh::doh:
just whine whine lee you say sentimental value. then to me he is not really in need. Those in real need will not look at sentimental value. its survivor.
to me this 1 is classic whinny singaporean. a tree hugger.
Anyway so old liao 70yrs have to clean the big place not siong meh? aiyoh..
potential fire sale, lol.
Clown of the HIGHEST order:doh:
aiyah they just want to complain. can rent out room. can sell down grade can rent out the whole house an go rent a 3 bed room from HDB, can rent out go rent a place in JB
so many bloody options. and he is lucky his father have foresight. what abt those who dont have a father that have the foresight leh?
:doh::doh::doh:
just whine whine lee you say sentimental value. then to me he is not really in need. Those in real need will not look at sentimental value. its survivor.
to me this 1 is classic whinny singaporean. a tree hugger.
Anyway so old liao 70yrs have to clean the big place not siong meh? aiyoh..
Old people are like that, 喜欢守着旧的东西.
But still depend on individual, whether you want or don't want. When you want, no matter how difficult the things is or not free, you will still try to do it or make yourself available but if you don't want, you will always give excuses.
he can retire richly by selling his pte n buy hdb. if he dun wan, he has no one to blame for being cash poor. he is not genuinely poor; he juz wanna hv his cake & eat it. no one will pity him.
he can retire richly by selling his pte n buy hdb. if he dun wan, he has no one to blame for being cash poor. he is not genuinely poor; he juz wanna hv his cake & eat it. no one will pity him.
Ya, so not only Y generation complain, O generation also complain.
and everyone complain, not just Singaporean.
Ya, so not only Y generation complain, O generation also complain.
all r govt babies :47:
Can sell terrace and buy two mm. Rent out one and one for own stay. Still got left few hundred thousands.
Can sell terrace and buy two mm. Rent out one and one for own stay. Still got left few hundred thousands.
thats why i say he is a CLOWN:scared-2:and all this kind of stupid news is DUMB....land is GOLD in sillypore
愚昧＋固执＋面子＋念旧 敌不过两个字 -----> 智慧
Actually for this type of problem, the asset rich cash poor cases
Government can easily solve it
Don't know what the story is trying to tell us.
Did this 70 year old man complain that he has not enough to live by? From the article don't seem to be so. If he think and want to and can live by with $500 per month, what can we say?
Or the article is trying to tell us that $500 per month is more than enough for a person to live in Singapore, so all those low-income and especially middle-income people who has much more than $500 per month per person to live by should just shut up and stop whinning and demanding govt to help/subsidize them? :beats-me-man:
http://news.omy.sg/News/Local-News/Qi-Xun-Weng-Wei-Shou-Bai-Mo-Zu-Wu-2Yuan-Cai-Fan-Chi-2Tian-225217
本地出现“新贫族”，有房有地没现金，有七旬老翁为守住160万元的“祖屋”，2片面包当“早午餐”，2元菜饭吃两天。
已退休的陈老先生（70岁）的父亲，60年代买下位于如切集选区一带的排屋，当时花了8万多元，现在价值约160万元。
陈老先生在30多年前与妻子分居，父亲过世后，和老母相依为命。
他受访时说，原本在建筑公司任职时，生活还过得去，可是为了照顾生病的老母，15年前退休，两人靠积蓄过活。5年前，他拿出3万元给出国留学的儿子当学费及生活费，自己就剩下两三千元。
母亲在三四年前过世，日子过得十分清苦，只靠着儿子每月约500元的生活费过活。
From Google translate :
Local appear "new poor family," there is room to no cash, there are seventy man to hold 1.6 million yuan of "ancestral home", 2 slices of bread when the "brunch", 2 yuan dish eat for two days.
Retired Mr Chen (70 years old) father, bought the 1960s is located along Joo Chiat GRC townhouses, then spent more than 80,000 yuan, now worth about $ 1.6 million.
Mr Chen and his wife separated 30 years ago, after his father died, and the mother had each other.
He said in an interview, had worked at the construction company, life is also decent, but in order to care for a sick mother, retired 15 years ago, they rely on their savings to live. Five years ago, he took 30,000 yuan to study abroad tuition and living expenses when his son, himself remaining two or three thousand dollars.
Mother died four years ago, life is very hard, relying only living son of about 500 per month to live.
https://pbs.twimg.com/media/BajRcqfCMAARoNk.png:large
thats why i say he is a CLOWN:scared-2:and all this kind of stupid news is DUMB....land is GOLD in sillypore
i pity him la... a slave to his house.
The revised NAV formula for property tax is going life more difficult for cash poor retirees living in landed estate.
You can life with no aircon, no cars, no reno and old furniture, but you still need to pay tax.
after living in a landed house ... hdb is pigeon hole
it's a disgrace to downgrade
after living in a landed house ... hdb is pigeon hole
it's a disgrace to downgrade
his life already a sad story might as well downgrade use the money and eat abalone and chilli crab everyday:D:D:D
if i am him i will sell my landed pay cash and buy 2 x condos...1 to stay other to collect rental income for my monthly expenses...maybe he should join our forum...:D:D:D
seriously, i dont think the old man dont know there are several options to consider from selling to cash out, downgrade, reverse mortgage, etc
it just whether he want to do it or not ...
He just doesn't want since he can live by with S$500 per month! :o
seriously, i dont think the old man dont know there are several options to consider from selling to cash out, downgrade, reverse mortgage, etc
it just whether he want to do it or not ...
He just doesn't want since he can live by with S$500 per month! :o
then ok what...newspaper really nothing better to report:doh:...honestly there are lot lot lot lot worse off old folks out there:2cents:
got minister said concern about asset-rich cash-poor ma ...
so reporter must go dig dig some juicy news lor ...
then ok what...newspaper really nothing better to report:doh:...honestly there are lot lot lot lot worse off old folks out there:2cents:
got minister said concern about asset-rich cash-poor ma ...
so reporter must go dig dig some juicy news lor ...
If really want to dig, I think he is not the only one. There are people who are also both asset poor as well as cash poor.:( . 讲不完的。
He is not that bad already, his son still gives him $500 per month. I know of someone, $100 per month each to his mother and father, so total $200. Some months still skip. He said no money because has to prepare for his wedding and new house coming in 2 yrs time. But occasionally, still have money to go overseas for short holidays. Luckily his parents are still working, if not how to survive.
That type cannot broadcast too much, looks very very bad especially when few want to help, and the help they get is so little! :doh:
Those asset rich but cash poor is better story to tell - They have a choice to live a luxury living if they want to! :beats-me-man:
If really want to dig, I think he is not the only one. There are people who are also both asset poor as well as cash poor.:( . 讲不完的。
The revised NAV formula for property tax is going life more difficult for cash poor retirees living in landed estate.
You can life with no aircon, no cars, no reno and old furniture, but you still need to pay tax.You are absolutely right... is IRAS allowing him to owe property tax every year? If he has only $500/mth, who is paying the tax for him? His son? :beats-me-man:
Btw, the google translation is v bad... sorry google....
Your suggestion is in fact so pragmatic and rational.
However, this "irrationalism" (esp. the thinking of such retirees) do occur for some very real reasons. Personally knew 2 pte prop owners, retired or almost retiring, who are not prepared for "the change" into other housing. e.g. Not wanting to downgrade to a 4-5 room HDB with another $1M cash on hand, because they saw all the O$P$ news on TV and think that all HDB units are like that and do not want to live in fear.
Those who are able to do that are often those who have probably experienced the heartlanders' life (rental, HDB) and are not fearful of living amongst these fellow singaporeans.
Change is not easy, especially as we age and feel less secure as no longer so economically viable to organisation and society.
if i am him i will sell my landed pay cash and buy 2 x condos...1 to stay other to collect rental income for my monthly expenses...maybe he should join our forum...:D:D:D
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