Car price is what % of your annual household income?

[Enye]

 

We need more people like you.

The 2009 recession was caused by people not borrowing money and buying things.

 

When factories cannot sell their products they retrench people and those people

now without an income spent less so more people lose their jobs.

Maxing out your credit keeps the economy going.

 

The real problem is the people with a lot of cash that never spend.

No spending means no goods sold and hence less production and less jobs.

 

Some people say we should be ourselves. I really disagree with this

 

If we are very rich then we should tell people we are poor. If we tell people

how rich we are people will think we are haolian and they won't like us.

Also then people wont rob us and worse still ask to borrow money and never

pay back.

 

If you are very powerful in a company then you have to be very humble and not

the action type then people will like you and support you.

 

If you are poor then you should pretend to be rich and powerful so that people

don't bully you and look down on you. Some people if they think you are poor

won't even talk to you or talk down to you.

 

If you pretend to be rich then a lot of fake people will try and suck up to you.

They will be very nice to you and carry you. Too bad for them if they find out

you are not rich and powerful. It serves them right for brown nosing.

 

 

so you are actually not lesbian but gay

 

[Angcheek]

Humble maybe but when he broke his arm because he fell from the bed, I think is foolish lor.... at least rent the lower deck bed instead

 

I agreed with you on this ... but I also understand why some people dont like to sleep at lower deck.

Its only a matter of time he will move to the lower deck. haha

[Chucky2007]

Wonder is the poll result real? Or maybe mfc members are mostly rich.

how much is the cost of car ownership vs yr salary? If too high maybe u should review?

That's why is forever stay HDB. All money gone to car:)

that's why in rat race..

[Galantspeedz]

 

I agreed with you on this ... but I also understand why some people dont like to sleep at lower deck.

Its only a matter of time he will move to the lower deck. haha

 

many years liao....

[Chucky2007]

Very real. But don't worry you are not alone. I am also one of the minority

 

My car is about 300% of annual income. but when i tell my peasant friends what I learnt from mcf, they

were very impressed and think that I network with the elite and pay full cash.

 

I feel very happy and got face even though my car and hdb on max loan

Knn.. u not scared of the taxman? Lol..

[Angcheek]

Excuse used by some:-

 

Man in rivers n lakes, body no more own self's

人在江湖， 身不由己

 

your english translation sucks but funny hahaha

[Chucky2007]

Interesting that i have worked sales/frontline in banks for more than a decade, and i have seen/done amongst other interesting things,

 

1) A Toto winner, 1.8 m i think.. A cheque with SG Pools stamped on it.

2) S$3M dollars in 50 and 100 bills in a luggage bag, trying to open account.

3) Delivered and deposited S$2M in cash for a client (totally legit one hor)

4) Someone vandalising ATMs

5) A very rich garang guni man(>15m cash)

 

but have yet to see a the proverbial 'holy grail' or the unicorn, the super rich, all cash multi-millionaire that stays in HDB.

Maybe with the exception of Throttle... drive porsche, stay CCK HDB?

Besides him, really not a single one. Even the garang guni stay landed, even though he drive van.

I don't doubt the possibility of this, but i think they must be very very very rare.

They might be in transition or they don't do legit business or there's a very specific reason, like tax issues etc.

 

But here, everyone knows of someone who is super rich yet stay in HDB.

Thats what i cannot reconcile.

They seem to be everywhere, but i have yet to see any. Amazing

 

 

same here.. I have not known and seen any debt free multi millionaire staying in HDB. If there is, I really wonder why are they doing that.. some people say bec HBD bigger.. but they are private condo that is even bigger than the biggest HDB flat..and that's excluding big landed... those rich man could well afford.

 

If I'm those rich multi millionaire who can afford to buy any private properties, and has no problem with future income.. would I buy a hdb marionette size flat to stay.. maybe.. but they thought of strangers hanging around void deck, lots of cars in and out the car park.. my view is same as Ted.. toss who did that must have some strange reasons.

 

Those bros that has friends who are multi millionaire and still staying in HDB. Why not just ask yourself, if you have 5-10million cash in bank account, already fully paid a few cars, and still have $1-2mil income coming in every year.. would you not move into a private property? Or u would stay put behind the flat bec of the nice neighbours?

[Angcheek]

Very real. But don't worry you are not alone. I am also one of the minority

 

My car is about 300% of annual income. but when i tell my peasant friends what I learnt from mcf, they

were very impressed and think that I network with the elite and pay full cash.

 

I feel very happy and got face even though my car and hdb on max loan

 

300% looks high because comparing to Annual income. If you compare with 5 yr , I think its ok as long as you dont have other high commitment. Im not sure what you put aside for saving .......

[Chucky2007]

 

300% looks high because comparing to Annual income. If you compare with 5 yr , I think its ok as long as you dont have other high commitment. Im not sure what you put aside for saving .......

must be own business.. can declare low low income... Whatever amount declare, remember tip top cuff puff boss story haha

[Shadowdad]

Ooss, don't say in open lah. IRAS is monitoring this forum:)

[Super7]

 

your english translation sucks but funny hahaha

I want to learn good translations, how should it be done? :-)

[Angcheek]

I want to learn good translations, how should it be done? :-)

 

Google translate ba ... I can only do singlish

[Yeobt]

2 of my ex bosses (in different company) owns and only live in a HDB flat.

 

they drove big merz and big volvo, own factory and showrooms in town.

 

the reason why they choose to live in a HDB becos they say if their biz failed, (you would never know) the bank could get everything

from them but never can repossess their HDB flat.

 

true enough, one of my ex boss who runs a few mega furniture showrooms failed very badly to the asian financial crisis during the year

2000 and he losts everything to the banks except his HDB flat. you all would know his store name if i mention. but don't ask me lah, what is over is over.

 

 

[xherion]

2 of my ex bosses (in different company) owns and only live in a HDB flat.

 

they drove big merz and big volvo, own factory and showrooms in town.

 

the reason why they choose to live in a HDB becos they say if their biz failed, (you would never know) the bank could get everything

from them but never can repossess their HDB flat.

 

true enough, one of my ex boss who runs a few mega furniture showrooms failed very badly to the asian financial crisis during the year

2000 and he losts everything to the banks except his HDB flat. you all would know his store name if i mention. but don't ask me lah, what is over is over.

 

 

 

If that's the case they are not debt-free multi millionaire others are talking about, most likely these guys have huge loan to run their business, that's why they always worried about failure risk. These guys are not financially independent.

Edited November 14, 2014 by xherion

[Super7]

2 of my ex bosses (in different company) owns and only live in a HDB flat.

 

they drove big merz and big volvo, own factory and showrooms in town.

 

the reason why they choose to live in a HDB becos they say if their biz failed, (you would never know) the bank could get everything

from them but never can repossess their HDB flat.

 

true enough, one of my ex boss who runs a few mega furniture showrooms failed very badly to the asian financial crisis during the year

2000 and he losts everything to the banks except his HDB flat. you all would know his store name if i mention. but don't ask me lah, what is over is over.

 

Moral of the story:- HDB flat is good buy for risk takers

 

btw, if such risk takers want to live well yet avoid house being cheong-konged, why not buy big bungalow under wife's name? No? (spouse assets also will kena cheong-konged in case of failed business?)

[Super7]

Those bros that has friends who are multi millionaire and still staying in HDB. Why not just ask yourself, if you have 5-10million cash in bank account, already fully paid a few cars, and still have $1-2mil income coming in every year.. would you not move into a private property? Or u would stay put behind the flat bec of the nice neighbours?

 

I know of a wife of a billionaires who chosse to live in HUDC (close enough to HDB status).

 

Back to these billionaires themselves, they do value their pricacy and who their neighbours are. So its really rare to see one choosing HDB over private home.

 

Less-Rich (but still rich nontheless) persons like politicians who claim they understand the plights of the masses etc, especially ministers, will do good if they spend some years actually living in HDB (childhood experience not counted) to get a feel of the life as HDB heartlanders. NO?

 

[Throttle2]

Interesting that i have worked sales/frontline in banks for more than a decade, and i have seen/done amongst other interesting things,

 

1) A Toto winner, 1.8 m i think.. A cheque with SG Pools stamped on it.

2) S$3M dollars in 50 and 100 bills in a luggage bag, trying to open account.

3) Delivered and deposited S$2M in cash for a client (totally legit one hor)

4) Someone vandalising ATMs

5) A very rich garang guni man(>15m cash)

 

but have yet to see a the proverbial 'holy grail' or the unicorn, the super rich, all cash multi-millionaire that stays in HDB.

Maybe with the exception of Throttle... drive porsche, stay CCK HDB?

Besides him, really not a single one. Even the garang guni stay landed, even though he drive van.

I don't doubt the possibility of this, but i think they must be very very very rare.

They might be in transition or they don't do legit business or there's a very specific reason, like tax issues etc.

 

But here, everyone knows of someone who is super rich yet stay in HDB.

Thats what i cannot reconcile.

They seem to be everywhere, but i have yet to see any. Amazing

 

 

Mate, as you know those rich guys who stay HDB is becos they want to get handouts from Govt.

Those are not bona fide HDb people becos they have other properties and shuttle back and forth.

 

I will salute the guy who finds me a HDB owner and stayer who has no other properties and spends his whole life savings buying a Lambo..... I dont think there is such a person.

 

By the way, i dont hv Porsche, i drive a cheap jap.

All that is bulls**t TPS......

Yes i stay in CCK hdb.......still trying hard to afford a mass mkt condo.

 

Boo hoo hoo.....

[Yeobt]

 

If that's the case they are not debt-free multi millionaire others are talking about, most likely these guys have huge loan to run their business, that's why they always worried about failure risk. These guys are not financially independent.

 

IMO, i think none of the bizmen is debt-free. the question is either they are in personal debt or company biz debt to suppliers or contractors.

so these bizmen actually calculated their biz risks should they run into a situation where they could not revived a failing biz due to external

factors like asian crisis and etc.

 

for some, i think it may because of a good fengshui he thinks the house is giving him good luck for everything he does.

 

just my thought.