Great post. In modern times, condo is not for everyone. According to Govt plan, its tagged to income. Same for private transport and private medical.
Originally Posted by
cbsh38584
To all those marginal property investorss.
Buying a condo or upgrading to a condo is NOT A GAME OF CARD for a married man especially with 2 young kids. This is your whole family life at stake.
Your parent & both of you have worked & saved 20 yrs + to have a decent living in HDB. As long as you are the MAN IN CHARGE, you need to ensure your family financial health did not deteriorate. You need to be very prudent and not to get your whole amily in deep shit. Nobody is going to KNOCK IT DOWN what you have achieved unless you yourself screw up due to GREED or HERD instinct investment.
U need to ask yourself .
Is the company you work for has a "SUNSET THINKING" ?
My friend (sme - staffs - 50) has the intention to sell away his 20 yrs + company. There is a American buyer but was rejected due to low offer.
There is a sign of relief for the staffs as the takeover is not successful. If the American buyer will to succceed. The 1st thing he will do is to
retrench old staff & replace by younger & cheaper workers.
Is the company you work for has a "SUNSET attitude" ?
I remember clearly during my NS which I was posted to a Amour unit repair & maint M16 rifle & mortar.
Two of my encik (Warrant officers ) not knee on any small changes in Amour dept as they are <1 yr into their retirement
& will get their pension.
Is the company you work for has a "sunset low technolgies" which can move to Msia or Viet due to low cost" ?
The company you work are easily taken over by low cost companies like Viet, India , China M'sia etc.
I remember that one of the potential big volume product which we make for Microsoft was suddenly
stop. We came to know that Foxconn offers 30% cheaper to manufacture it.
Is the company you work for has a "sunset thinking & attitude CEO" ?
Look at Nokia , Netscape , Yahoo , SPH etc. They are a great companies. Once they are just or less worry about the companies future
They will definitely be replaced by new technologies or their paranoid competitors. For a company to surivive. It need to be PARANOID.
Continuous seeking to change everyday.
Do you have a plan to start for a "SUNSET" saving account early (CPF) ?
If you do not have a plan. Please start thinking NOW. If you think. You will plan.
Once you plan & prepare for it. You will have less worry when you really into "SUNSET" retirement at age 60-65.
人无远虑, 必有近忧. If one has no long-term considerations, he can hardly avoid troubles every now and then.; He who has no anxious thoughts for the future will find trouble right at hand.; If a man is not farsighted, he is bound to encounter difficulties in the near future.; Those who do not plan for the future will find trouble at their doorstep
Lee Kuan Yew definition of a educated man.
An educated man is a man never stop learning and want to learn.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.