1 in 2 high income earners have financial problems

[Mkl22]

17 minutes ago, Kopites said:

Shield your sa and oa. Use FD to top up the RA till FRS. 

Yes I am reading up on Tbill/government bond lately.

The other way is to pay back cpf loans for housing 

[Cheesey74]

Below says it all...

"The reality is that once you have chosen to live beyond your means, your expensive lifestyle will come back to haunt you now even if you lock yourself at home and cut all spending except for food and utility bills.

This happens if you have borrowed heavily to pay for, say, a multimillion-dollar home and a $500,000 car - your monthly loan repayments alone would be enough to cripple you once your regular income is affected."

[RH1667]

35 minutes ago, sake said:

 

So the lesson here is this: A carefree life need not be out of reach if you start to plan for it now.

More importantly, you will feel rich if you live within your means because doing so means you will always have enough money.

Yes lah , so I doing correctly.

beginning of the month pump V-power, end of the month pump SPC 92😂. 

[Kopites]

10 minutes ago, Mkl22 said:

The other way is to pay back cpf loans for housing 

I don't have cpf housing loan.

[RadX]

22 minutes ago, Kopites said:

The 1m65 solely on cpf alone won't be able to achieve 1m65 given my late "enlightenment".😄 Must complement with other milo tin saving for that 1m65.

According to many articles a 60k plus for a child now would give them 1m65.

Hopefully my son when he turn 65 those SA sum still intact. Hahaha 

Of course

there is another pile outside of that that needs to be managed 

[badlammy]

28 minutes ago, RadX said:

On contrary

 

i earned more in 2020… guess I bucked the trend

Many in FIs that I know earned more in 2020...and got more bonuses, at most freeze increment.

[RadX]

11 minutes ago, Mkl22 said:

The other way is to pay back cpf loans for housing 

I no use and never did use cpf for housing… so that figures on amount in cpf now

[13177]

30 minutes ago, RadX said:

Well YOLO!

Well, if struggled to keep up with their expenses, pay a high price just to YOLO la.

[13177]

7 minutes ago, RadX said:

I no use and never did use cpf for housing… so that figures on amount in cpf now

Wa, full cash siah.

[RadX]

Just now, 13177 said:

Wa, full cash siah.

Nbz

 

Dun anyhow say

[Ct3833]

1 hour ago, Cheesey74 said:

Below says it all...

"The reality is that once you have chosen to live beyond your means, your expensive lifestyle will come back to haunt you now even if you lock yourself at home and cut all spending except for food and utility bills.

This happens if you have borrowed heavily to pay for, say, a multimillion-dollar home and a $500,000 car - your monthly loan repayments alone would be enough to cripple you once your regular income is affected."

I have a $36k COE car, not a 500k car  but I still feeling very stretched 😪😪

Edited June 20, 2021 by Ct3833

[Alfc]

YOLO (enjoy the moment in case you die suddenly, but which is higher probablity: die sunddenly at 40 or live at least till 60? Plan for something 2% or plan for something 80%?) and FOMO ( only upside, downside simply ignored and cast aside) dominate. 

Anyway these are personal choices. Bottomine, whichever happens, answer for it oneself, not pass the bill especially to people around you ( your family or "loved" ones).

[Mkl22]

1 hour ago, Cheesey74 said:

Below says it all...

"The reality is that once you have chosen to live beyond your means, your expensive lifestyle will come back to haunt you now even if you lock yourself at home and cut all spending except for food and utility bills.

This happens if you have borrowed heavily to pay for, say, a multimillion-dollar home and a $500,000 car - your monthly loan repayments alone would be enough to cripple you once your regular income is affected."

Good lor. Wait for those who over leverage to pok. 

[Mkl22]

10 minutes ago, Ct3833 said:

I have a $36k COE car, not a 500k car  but I still feeling very stretched 😪😪

You have 2 cars mah. 

[Ct3833]

23 minutes ago, Mkl22 said:

You have 2 cars mah. 

Also another COE car😪. The two add up is  cheaper than the cheapest new car in the market. 

The salary range of the survey from 6k to 20k  is too broad, and  i don't think 6k can be  considered as high income.   I would say the 6k ones may have more real problems than  the 20k ones. If a 20k one has roblem, it is most probably self induced.  

Edited June 20, 2021 by Ct3833

[13177]

23 minutes ago, Mkl22 said:

You have 2 cars mah. 

$36k x two, no wonder he feels very stretched?! 😅

[13177]

8 minutes ago, Ct3833 said:

Also another COE car😪. The two add up is  cheaper than the cheapest new car in the market. 

The salary range of the survey from 6k to 20k  is too broad, and  i don't think 6k can be  considered as high income.   I would say the 6k ones may have more real problems than  the 20k ones. If a 20k one has roblem, it is most probably self induced.  

$6k salary must see the person overall expenses and commitments, also if the person is single or married.

You see many people not even have $6k salary and yet still able to feed a whole family. So must see how is the person lifestyle and spending.

Edited June 20, 2021 by 13177

[Ct3833]

2 hours ago, sake said:

i subscribe, therefore i am high income earner? 

You subscribe meaning you have no financial problems😀😀. I have to come to MCF to read free news .