Today my tenant called me...

[yowetan]

trust me he is....i saw him before at flamingo valley showflat...

I have never see you before?!

[surfuz]

yowetan did not plan for many contingencies like Retrenchment of one of them of both. Back office work is always subject to outsourcing.

I tried to put myself into the shoe's of his parents.
1. rent out my HDB flat and keep my rental income
2. hardly any allowance for me
3. Do all the housework and cooking etc etc
4. taking care of the grandchildren.
5. no money/insurance for me if I fall sick
6. Will I be kicked out of the house if I am old and sick? who will take care of me?
7. what happen if one of them retrenched, do I need to sell my HDB to support them?

Conclusion : My parents are very fortunate that dun hv a son like yowetan.

I read yowetan's story with interest I believe I'm only slightly younger.

Just to add on: Intention to leave the loans (liabilities) for future generation (his dependents) to repay...

I think he need to understand that getting a house is only part of a story. Other than the location, it is basically an empty vessel.. need to feel it up with things that are cherished.

In the banking sector, I believe sure the employers are concerned about whether their employees themselves are financially sound. Could be risky career wise if there are surprises along the way.

[Poloclub]

No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.

Kid(s) education I will send them to good primary school. I will not throw in money like the enrichment classes but essential fundamental classes. I will probably opt for the PAP schools to enjoy heavy subsidies from government/MOE.

As mentioned, if I found one suitable unit in Mt Sinai, I will rent out my HDB flat as well to get another 2k+ disposal rental income. In total, I will be left with 7+2+2 = 11k SGD.

With the possible montly expenditure of 6k (Max) - I am left with 5k. Minus away the possible Mt Sinai PC loan, I might left with 1-2k excess cash. I believe we can live with it.

Government need to feature your life story on TV.

what a sad case.

[Laguna]

Government need to feature your life story on TV.

what a sad case.

This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.

[yowetan]

This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.

It is early to tell if it is a SAD or GOOD case to have our government responsible for aging people/population in term of basic healthcare and silver lifestyle well-being.

We have a good discussion within the family, and we believe pooling our resources together and focus on our objective would be a better notion.

As mentioned, different people different stroke.

[pinkpolkadot]

No insurances for my parents and in-laws; will depend on government policies and help. I believe hospital(s) will accept patients and provide necessary treatment even if we have no money. It was reported in straitstimes too. Hence, I am not worry over this.

If I am your parents I will be very sad. Very very sad.

[yowetan]

If I am your parents I will be very sad. Very very sad.

I cannot comment on you but my parents agree with my thoughts.

I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.

[pinkpolkadot]

I cannot comment on you but my parents agree with my thoughts.

I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.

Very very sad.

[Poloclub]

This is the first time I realise this guy is a SAD case....
he will be throwing his old and sick parents to the Govt and he himself stay in the PC and collect rental income from his parents's HDB flat.

This sort of sad cases are pretty common in today's society. on the surface, they claim it is for the better good for the "family" etc and will promise their folks that they will live and eat for free etc, but underneath they are simply taking advantage of their parent's love and home as a ATM machine to finance a lifestyle which they cant afford.

And when the old folks are old sick and grey, I guess the next step will be to do or not do whatever is necessary for them to kick the bucket so that they will have full control of their assets.

While all these are happening, the kids will learn and then do the same to their parents. What goes around comes around.

[pinkpolkadot]

This sort of sad cases are pretty common in today's society. on the surface, they claim it is for the better good for the "family" etc and will promise their folks that they will live and eat for free etc, but underneath they are simply taking advantage of their parent's love and home as a ATM machine to finance a lifestyle which they cant afford.

And when the old folks are old sick and grey, I guess the next step will be to do or not do whatever is necessary for them to kick the bucket so that they will have full control of their assets.

While all these are happening, the kids will learn and then do the same to their parents. What goes around comes around.

**** Super like ah!

[surfuz]

I cannot comment on you but my parents agree with my thoughts.

I am not getting any insurance for myself because I think insurance is a scam. I would rather have the government pay for it.

yowetan, u dun get insurance for yourself. U get it for your dependants!

That aside, I think getting hosp insurance for parents/in-laws is impt.. These should be the basic before committing to property..

Unless u seriously believe u get get away with not paying any bills, they can derail your dreams.

[yowetan]

yowetan, u dun get insurance for yourself. U get it for your dependents!

That aside, I think getting hosp insurance for parents/in-laws is impt.. These should be the basic before committing to property..

Hi, I used to think like most Singaporean few years back getting a H&S plan. However, due to some circumstances I realised that using our CPF medisave account to be insured under government basic medishield would be suffice for most of us for a basic healthcare needs.

Moreover, due to their old age the premium for the H&S plan is getting irrelevant and unhelpful.

I certainly dun advocate throwing away money to the agents commission and the insurance companies coffer.

Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.

[pinkpolkadot]

Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.

WOW LOOK WHO IS TALKING!

[Poloclub]

WOW LOOK WHO IS TALKING!

Talk is all he can lah.

He will NEVER be able to buy a PC at Mount Senai lah. Which bank will actually borrow someone who will have to depend on HDB rental to pay for a mortgage that he cant afford.

[pinkpolkadot]

Talk is all he can lah.

He will NEVER be able to buy a PC at Mount Senai lah. Which bank will actually borrow someone who will have to depend on HDB rental to pay for a mortgage that he cant afford.

He already said this in post #82:
We work in a bank. Hence, LTV is not a concern.


Like that also can meh?. Whistle blow to MAS and his bubble of dream will be burst right in his face.

[Poloclub]

He already said this in post #82:
We work in a bank. Hence, LTV is not a concern.


Like that also can meh?. Whistle blow to MAS and his bubble of dream will be burst right in his face.

in his dream

[radha08]

I have never see you before?!

ha ha joking la...

[movement_art]

I cannot imagine what Yowe is doing, no insurance???. Once illness strike.etc, your kids will suffer. Please do sometime about that.

Just Imagine if you lose your income and yet need to pay for medical and mortgages. You then want to buy, but no one want to cover, too late. You dun want your most love ones be getting busary in school(full of shame and embarrassed), Or wife work 2 jobs or parents go on working, to take care of you.

If you dun believe ask around those who is in the situation.

Very irresponsible.

Sincerely do something about it and get some insurance first then leverage.

No offence intended

[yowetan]

ha ha joking la...

Ah, I see.

Btw, it seems the economy is bustling with activities. River isle is a success in punggol central.

With that, I believe there is strong demand in D10 Mt Sinai. I am waiting for opportunities.

All landlords who wish to dispose his/her Mt Sinai FH/999 PC, please do PM me your best price/offer.

[yowetan]

I cannot imagine what Yowe is doing, no insurance???. Once illness strike.etc, your kids will suffer. Please do sometime about that.

Just Imagine if you lose your income and yet need to pay for medical and mortgages. You then want to buy, but no one want to cover, too late. You dun want your most love ones be getting busary in school(full of shame and embarrassed), Or wife work 2 jobs or parents go on working, to take care of you.

If you dun believe ask around those who is in the situation.

Very irresponsible.

Sincerely do something about it and get some insurance first then leverage.

No offence intended

The basic H&S and dependant scheme is already part of my employment benefits. It is covered.

As mentioned, I am getting the mortage term insurance to protect my asset(s) from government and banks so as to hand over my children/family with little/zero liabilities.

Your kind intention is appreciated, and please rest assure that my families are well-covered except my aging parents and in-laws whom I strategically position government policies to look after them.

[radha08]

you mean so diff to rent out?? or you just take this opportunity to reno...different thing le...

if your driving on a long straight road trying to reach your destination...and suddenly there is a road block...it takes a while to get around it...

some people will turn back i.e SELL their property

some will bash thru...i.e rent out to any tom dick harry at CHEAPER price...in process damaging your vehicle if its a roadblock or if its ur house...

some will just wait hoping to get clearance to go thru the roadblock...i.e in the meantime wash/polish/service your car OR if its an APT...reno...

so you see life is never a straight road without obstacles....think about it my friends....whether your on the road or sipping a magarita at your d9/10/11 luxury condo...

[ikan bilis]

hmm... you people pls don;t see yowetan no up like that...

if he sells his parents' hdb, say $600K, plus 100K cash on hand, and use it as 40% deposit.... he has the resources to buy that $1.3-1.75mil condo... and i believe bank will finance that 60% LTV...

the only issues would be hdb mop... how is he going to buy pte condo and rent out his hdb without fulfilling his hdb mop ??... hmm... tough question on how to get around with that....

i'm only saying he has the resources to do it hor... never say if it is right/wrong thing doing it... pls don;t flame me hor... me small fish only...

[radha08]

hmm... you people pls don;t see yowetan no up like that...

if he sells his parents' hdb, say $600K, plus 100K cash on hand, and use it as 40% deposit.... he has the resources to buy that $1.3-1.75mil condo... and i believe bank will finance that 60% LTV...

the only issues would be hdb mop... how is he going to buy pte condo and rent out his hdb without fulfilling his hdb mop ??... hmm... tough question on how to get around with that....

i'm only saying he has the resources to do it hor... never say if it is right/wrong thing doing it... pls don;t flame me hor... me small fish only...

i rather be a SMALL fish with sharp teeth than a BIG fish with NO teeth...

[radha08]

The basic H&S and dependant scheme is already part of my employment benefits. It is covered.

As mentioned, I am getting the mortage term insurance to protect my asset(s) from government and banks so as to hand over my children/family with little/zero liabilities.

Your kind intention is appreciated, and please rest assure that my families are well-covered except my aging parents and in-laws whom I strategically position government policies to look after them.

bro honestly i pity you looks like your shoulder very heavy got a lot of responsibility in your life and a lot of people to take care....think of your own well being sometimes this type of stress got INVISIBLE damage and can affect your health...so eat well exercise regularly and do good deed to those less fortunate so you can get good karma in return....

[yowetan]

bro honestly i pity you looks like your shoulder very heavy got a lot of responsibility in your life and a lot of people to take care....think of your own well being sometimes this type of stress got INVISIBLE damage and can affect your health...so eat well exercise regularly and do good deed to those less fortunate so you can get good karma in return....

Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.

If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.

[Laguna]

Also, I realise people love to talk about filial piety value(s) but I seriously doubt they really understand the definition of true filial piety.

Then what is your value and definition?

[roly8]

Thank you for the well wishes and advices. I feel I have to do something in my lifetime. I want to do something that would benefit my family line in next generation.

If failed, I just take it easy and move on. If I dun try, there can never ever a chance in many lifetime(s) after me.

$$$ more important or health more important?

if your prediction is wrong, you gonna have problem sleeping every night...

[yowetan]

$$$ more important or health more important?

if your prediction is wrong, you gonna have problem sleeping every night...

I have plan and prepare for the worst. Bankruptcy is nothing to cry and ashame of.

[roly8]

I have plan and prepare for the worst. Bankruptcy is nothing to cry and ashame of.

ok lor.

bet your $$ and don't look back.

[Douk]

It is early to tell if it is a SAD or GOOD case to have our government responsible for aging people/population in term of basic healthcare and silver lifestyle well-being.

We have a good discussion within the family, and we believe pooling our resources together and focus on YOUR objective would be a better notion.

As mentioned, different people different stroke.

Lol.. this is sickening.