COVID-19: Retrenchments

[Throttle2]

1 hour ago, Windwaver said:

Yeah, I read that article.

I wonder what's the point about the article, mock at low SES people?

https://www.todayonline.com/singapore/one-sees-his-flying-dream-cut-short-other-sia-pilots-become-delivery-drivers-retire-early

For one pilot, having to take a pay cut has forced him to resort to borrowing money to keep his children in overseas universities. He is also trying to sell his car.

The 50-year-old pilot who declined to be named has been with the airline for 27 years. He told TODAY that he is cash-strapped because the money he has earned during the span of his career has been invested in properties, stocks and bonds.

On average, he used to earn S$23,000 a month compared to S$13,000 these days.

“My monthly expenses add up to over S$19,000 a month and it’s not the right time to give up my stocks and bonds and sell my properties because I’ll get nothing. I’ll get a second job, I’ll sell my clothes if I have to,” he said.
 

 

Aiyoh....why no cash? At least a few hundred grand should have mah? 
living in bubble maybe?  

[Throttle2]

Just now, Wt_know said:

average joe who lost job or paycut and have to eat ROTI and children education is affected then deserve help

nabei .. these people ... losing a dime is not an option for selling what they have now  

Thats why i am against helping such people keep their properties stocks bonds. 
got assets? Sell.  

[Throttle2]

16 minutes ago, Wt_know said:

got few properties on hand ... cannot sell one meh? property price still cheonging hor even with covid

nabei .. .want us to spoonfeed him truffle and foie gras for lunch?

don't think he need to choose between hawker, foodcourt and restaurant ... may be clubhouse ...

Becos the reality is that he will lose if he sells. 
i have no sympathy empathy for someone like that. 

Edited September 28, 2020 by Throttle2

[Throttle2]

2 hours ago, Windwaver said:

Yeah, I read that article.

I wonder what's the point about the article, mock at low SES people?

https://www.todayonline.com/singapore/one-sees-his-flying-dream-cut-short-other-sia-pilots-become-delivery-drivers-retire-early

For one pilot, having to take a pay cut has forced him to resort to borrowing money to keep his children in overseas universities. He is also trying to sell his car.

The 50-year-old pilot who declined to be named has been with the airline for 27 years. He told TODAY that he is cash-strapped because the money he has earned during the span of his career has been invested in properties, stocks and bonds.

On average, he used to earn S$23,000 a month compared to S$13,000 these days.

“My monthly expenses add up to over S$19,000 a month and it’s not the right time to give up my stocks and bonds and sell my properties because I’ll get nothing. I’ll get a second job, I’ll sell my clothes if I have to,” he said.
 

 

I think its incorrect to see it as mocking others.  

Its probably to show that even middle class people are impacted, not just the poor.

but this 50 yr old pilot could be a fine example of a lot of middle class people who dont have solid cash buffer, and are getting choked or will be getting choked.

Therefore the moral of the story is to have a good cash buffer, dont bite off more than one can chew. 

 

 

[Volvobrick]

38 minutes ago, Throttle2 said:

Thats why i am against helping such people keep their properties stocks bonds. 
got assets? Sell.  

BUT taxpayers are helping him keep his properties, bonds and stocks - we pay SQ, SQ pays him.  About 3K plus per month over almost 1 year.

天理何在？

[Ct3833]

2 hours ago, Windwaver said:

Yeah, I read that article.

I wonder what's the point about the article, mock at low SES people?

https://www.todayonline.com/singapore/one-sees-his-flying-dream-cut-short-other-sia-pilots-become-delivery-drivers-retire-early

For one pilot, having to take a pay cut has forced him to resort to borrowing money to keep his children in overseas universities. He is also trying to sell his car.

The 50-year-old pilot who declined to be named has been with the airline for 27 years. He told TODAY that he is cash-strapped because the money he has earned during the span of his career has been invested in properties, stocks and bonds.

On average, he used to earn S$23,000 a month compared to S$13,000 these days.

“My monthly expenses add up to over S$19,000 a month and it’s not the right time to give up my stocks and bonds and sell my properties because I’ll get nothing. I’ll get a second job, I’ll sell my clothes if I have to,” he said.
 

 

$13k is still a jaw dropping income to many, he should  go solve his own problem. 

[Throttle2]

2 minutes ago, Volvobrick said:

BUT taxpayers are helping him keep his properties, bonds and stocks - we pay SQ, SQ pays him.  About 3K plus per month over almost 1 year.

天理何在？

I wont see it that way.  

The pay cuts hv been made and the no pay leave being taken so those measures apply accordingly for employees of the specific firm. 

So while in the most granular scheme of things , you are not wrong, i think if we go down that path,  we end up being those sickening lawyers who only argue on technicalities.   

 

[Throttle2]

5 minutes ago, Ct3833 said:

$13k is still a jaw dropping income to many, he should  go solve his own problem. 

Bugger spent loads of his speculative income so if he crashes and burns, thats just too bad really.  

Likewise, if he makes loads of money, he aint gonna pass us any.... muayhahaha

[13177]

2 hours ago, Windwaver said:

Yeah, I read that article.

I wonder what's the point about the article, mock at low SES people?

https://www.todayonline.com/singapore/one-sees-his-flying-dream-cut-short-other-sia-pilots-become-delivery-drivers-retire-early

For one pilot, having to take a pay cut has forced him to resort to borrowing money to keep his children in overseas universities. He is also trying to sell his car.

The 50-year-old pilot who declined to be named has been with the airline for 27 years. He told TODAY that he is cash-strapped because the money he has earned during the span of his career has been invested in properties, stocks and bonds.

On average, he used to earn S$23,000 a month compared to S$13,000 these days.

“My monthly expenses add up to over S$19,000 a month and it’s not the right time to give up my stocks and bonds and sell my properties because I’ll get nothing. I’ll get a second job, I’ll sell my clothes if I have to,” he said.
 

 

His monthly expenses add up to over $19k? So much, what are his expenses siah?

[Wt_know]

9 minutes ago, 13177 said:

His monthly expenses add up to over $19k? So much, what are his expenses siah?

middle grass people expenses we cannot understand one la ... LOL

imagine selling clothes can tie over ...

clothes must be A for ARMANI and B for BOSS ... i gotta count until alphabet U for Uniqlo  

Edited September 28, 2020 by Wt_know

[Ct3833]

6 minutes ago, 13177 said:

His monthly expenses add up to over $19k? So much, what are his expenses siah?

I think main bulk are from the  property loan, car loan  and kids overseas study expense , not surprising but he can always sell  his property(ies), no need to KPKB about it. He can reveal  his problem  but i would  like to also see that he tells  people  how he is going to solve his good problem. 

[Wt_know]

2 minutes ago, Ct3833 said:

I think main bulk are from the  property loan, car loan  and kids overseas study expense , not surprising but he can always sell  his property(ies), no need to KPKB about it. He can reveal  his problem  but i would  like to also see that he tells  people  how he is going to solve his good problem. 

but property loan is good loan leh ... not meh?

hearsay from top agent ... investment property is wholly paid by tenant else no buy

Edited September 28, 2020 by Wt_know

[Throttle2]

10 minutes ago, 13177 said:

His monthly expenses add up to over $19k? So much, what are his expenses siah?

Properties $8k

Car $3k

Food/utilities $5k

children $3k

$19k sup sup suey

 

[Ct3833]

Just now, Wt_know said:

but property loan is good loan leh ... not meh?

hearsay from agent ... investment property is paid by tenant ... else no buy

 

Good loan when one can afford it  and when mkarket is good, when cannot afford to continue paying installment, sell it and move on. Those who have more than one, sell one, those who have only one, downgrade it, live on. 

[Throttle2]

3 minutes ago, Ct3833 said:

I think main bulk are from the  property loan, car loan  and kids overseas study expense , not surprising but he can always sell  his property(ies), no need to KPKB about it. He can reveal  his problem  but i would  like to also see that he tells  people  how he is going to solve his good problem. 

Correct. Want the cake and eat it?  

Sorry no can do.

but to be fair to him, he didnt ask for help , did he?

[Wt_know]

1 minute ago, Throttle2 said:

Properties $8k

Car $3k

Food/utilities $5k

children $3k

$19k sup sup suey

 

wah .... speak from experience ehh ... lol

[Wt_know]

3 minutes ago, Throttle2 said:

Correct. Want the cake and eat it?  

Sorry no can do.

but to be fair to him, he didnt ask for help , did he?

no ... cash strapped only ... may be he is a multi-millionaire but no cash only?

Quote

The 50-year-old pilot who declined to be named has been with the airline for 27 years. He told TODAY that he is cash-strapped because the money he has earned during the span of his career has been invested in properties, stocks and bonds.

 

Edited September 28, 2020 by Wt_know

[Throttle2]

Just now, Wt_know said:

wah .... speak from experience ehh ... lol

I got no mortgage, no car loans, every month buy gold rolex, how many times must i tell you???

wahlau eh!!!