COVID-19: Retrenchments

[Throttle2]

5 minutes ago, 13177 said:

That pilot consider rich liao, cause he knows how to make his money work harder for him. Am i right to say when he sells away his properties, he is cash rich?! Even no sell, every month he collect rental also can become rich.

No leh, he say sell now he got nothing.   Bought too high, maybe.

😂 muayhahaha

If rich means rich, got assets got cash....not one or the other

like Enye

Edited September 28, 2020 by Throttle2

[Scion]

4 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.
 

 

lies?

even if cut losses in stocks and properties, still will get back money one mah

how can it be get back nothing?

[Mockngbrd]

2 hours ago, Throttle2 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. 

 

 

Pilot is HIGH CLASS la... fly so high up still not high class?

[Jamesc]

6 hours ago, Volvobrick said:

Poor chap - as a pilot for so long, he is unlikely to have any other work skills. 

Is it an AMG? 

If AMG and you want I mark up just $1k and sell to you.

MCF member deal.

[ToyotaShuttle]

2 hours ago, 13177 said:

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

Not difficult actually since his children are studying overseas. 

If they aren't on scholarship, school fees in Australia already 40-50k. Add living expenses and flights to come back, maybe 80k per year per kid. In actual fact, he gets discounts on flights!~

[Throttle2]

33 minutes ago, Mockngbrd said:

Pilot is HIGH CLASS la... fly so high up still not high class?

Wahahahaha...... 

Cannot lah....earn only $23k per mth, below MCFer median leh.....

and still mediocre

Edited September 28, 2020 by Throttle2

[Roh96]

What kind of properties did the pilot buy? I thot MCF gurus say rental is going up and able to cover mortgage.

MCF gurus jin steady wan, talk until like property is idiot proof and bao jiak. The pilot should come MCF and seek advice.

 

[Volvobrick]

1 hour ago, Scion said:

 

lies?

even if cut losses in stocks and properties, still will get back money one mah

how can it be get back nothing?

Nothing = no profits or make losses... Bo gum guan ma. 

[Jamesc]

On 9/27/2020 at 2:40 PM, Mustank said:

https://mothership.sg/2020/09/chan-chun-sing-jobs-singaporeans/

 

 

Yipee got 1 million jobs extra

I don't need to massage models any more.

Bye bye models you can rub rub yourself.

[Fcw75]

12 minutes ago, Jamesc said:

Yipee got 1 million jobs extra

I don't need to massage models any more.

Bye bye models you can rub rub yourself.

Got lobang?

[Jamesc]

7 minutes ago, Fcw75 said:

Got lobang?

You mean the models?

[BanCoe]

2 hours ago, Scion said:

 

lies?

even if cut losses in stocks and properties, still will get back money one mah

how can it be get back nothing?

Bonds - he can’t be losing much of at all as bonds prices are up quite a lot actually in view of dry interest rates 

[Throttle2]

2 hours ago, Volvobrick said:

Nothing = no profits or make losses... Bo gum guan ma. 

Bo kum guan until prefer to sell clothes and take another job? 
i think its worse than that.

maybe nothing means really negative , have to tng kor.    Probaly bot at high, sell now cant even take back a cent lose all his equity.    
 

if sell and break even and can take back half a million to cover expenses, any reasonable sane person would do so. Especially got family to take care. 

[Voodooman]

7 hours ago, Throttle2 said:

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

He may have bought them in the last 5 years, sell now will likely lose money (secondary market hardly moved and with all the stamp duties, sure to be underwater).

2 of my pilot friends are also very highly geared, when was the last time SQ fired local pilots?  26 during SARS? Don't remember they fired local pilots during AFC and GFC. 

Now they know G will bail out SIA, it is time to borrow max max to buy bonds, stocks and properties. 

[inlinesix]

1 minute ago, Voodooman said:

He may have bought them in the last 5 years, sell now will likely lose money (secondary market hardly moved and with all the stamp duties, sure to be underwater).

2 of my pilot friends are also very highly geared, when was the last time SQ fired local pilots?  26 during SARS? Don't remember they fired local pilots during AFC and GFC. 

Now they know G will bail out SIA, it is time to borrow max max to buy bonds, stocks and properties. 

Most of the unemployed local cabin crew are employed by Ah Gong
Mai Kia 

[Voodooman]

3 minutes ago, inlinesix said:

Most of the unemployed local cabin crew are employed by Ah Gong
Mai Kia 

Cabin crew after paycut and without flight allowance can barely survive unlike the pilots (work from home also smelly smelly $13k). They definitely need more help than the alpha pilots.

[Roh96]

5 minutes ago, Voodooman said:

Cabin crew after paycut and without flight allowance can barely survive unlike the pilots (work from home also smelly smelly $13k). They definitely need more help than the alpha pilots.

Wah sit at home shake legs can get $13K. Iron rice bowl bcos ah gong will bail the airline.

[Throttle2]

20 minutes ago, Roh96 said:

Wah sit at home shake legs can get $13K. Iron rice bowl bcos ah gong will bail the airline.

Yah lor, nothing to complain about. 

Only need to go simulator 

heng didnt kena charmh 

Edited September 28, 2020 by Throttle2