9/11/2009

She is rich, at least worth $300k!

Most Singaporeans owning a HDB flat is worth at least a couple of hundred thousand bucks. An owner of a 3 rm flat should be worth about $300k. Now that kind of wealth could make the person live like a rich gentry in many countries. In paradise, some of these people are living the life of vagabonds, scrapping a living collecting tin cans and scrap boards. This is real, no imagination. There is such an old woman shown on video. What she needs is to get a financial adviser to manage her wealth, turn the piece of asset into an income and live better. Or maybe she was just trying to keep herself fit and collecting scrap boards is just a form of exercise.

10 comments:

Wally Buffet said...

It really boggles my imagination as to why those collecting cans, card boards and assorted garbage do not turn their 300K pigeon hole into a Banyan Tree resort somewhere far far away.

Buy a few pigs, cows, rear a few chickens, grow some veges and you don't need money there but at least you have a nice comfy place to stay.

redbean said...

wally, i think you should talk to boonwan and offer him this option, retirement in paradise(lijiang) for life, full meal and accommodation, plus medical care, all for the price of a trade-in 3 rm HDB. no need to work or pick tin cans anymore.

Wally Buffet said...

Why talk to those that hear but don't listen?

Like Nike says, "Just Do It" (by yourself lah)

Trust me, oldies should just get out of this oven and all those can and card board picking nonsense and enjoy their twilight years looking at ice capped mountains, cloudless starry skies before they call it a day.

Anonymous said...

There can be no wiser word than those said here by Mr Wally!!

Time for us to talk more about the goods in other possible abodes and domiciles than talking about the ilks and ills of our tiny land. It is not worth slogging like slaves in your own country.

patriot

Matilah_Singapura said...

Redbean is confusing and conflating the ideas of "wealth" and "net worth". They are not the same thing.

Also using HDB in an argument is less than sound. No own technically "owns" their HDB. It is a lease from the government which you buy from the govt and you can trade that lease in a regulated market, but as for ACTUAL OWNERSHIP of the physical unit or building -- those are still owned by the state.

a person might be "wealthy" but have unimpressive net worth, as 'wealth' is a state of mind and emotion -- deeply personal. Being 'rich' or having a high net worth is objective... but again, we all have different standards.

Here's mine: if a person can write out a good check for the CASH equivalent of 1000 oz of gold (i.e. their day to day LIQUIDITY is cash of the value of 1000 oz of gold), then in my opinion that person is 'rich'.

Anonymous said...

Sell up and move out? Well the PAP has been encouraging the oldies and those who have passed their "sell-by" dates to move out. One of those idiots even suggested the children send their old useless parents to JB to live out their useless years. Singapore is only for those who can contribute, ie. the young and those from China. If you are old and cannot contribute to the economy, then you are garbage and rejected.

Matilah_Singapura said...

I agree with the govt on this one then: it is not the role of the state to look after people by taxing the productive to support the unproductive.

Everyone gets old -- if they're lucky. Being old doesn't give anyone "special rights" to claim -- via the govt -- the property of other people. Since growing old is nothing out of the ordinary, people can be expected to prepare for old age. Rational and reasonable people do. They also make sure they keep their family unit together.

Each of us has our whole life to prepare for old age. Relying on the govt to provide is shifting the responsibility which makes anonymous strangers pay for the mistakes of a few irresponsible people. Who is to say? Those productive anonymous strangers might choose to better use their money to look after their own old parents, or provide for their own retirement.

Whatever emotion one feels for those old down and out is irrelevant to the argument. Some people will feel those folks deserve their lot -- as we all reap what we sow. Others might have some compassion. And others still -- the more unintelligent ones -- will lobby the govt to provide "welfare".

redbean said...

the idea of becoming an emperor in lijiang is not bad and i may want to join wally there. wally, you got a room to let? i don't think i want to buy or build a palace there during the dying hours of my life.

but to be bumped there with no choice, now that is a different proposition. for those who are going there as a well conceived option, good.

Wally Buffet said...
This comment has been removed by the author.
Wally Buffet said...

Redbean,

Trust me, for 300K, you really can exchange it for a small palace in Lijiang. Don't know why the oldies here are so immobile and inert. Collecting card boards and cans? It's for the birds.

My small palace is modeled after the Banyan Tree resort albeit on a much smaller scale. Drool over it Here

Since you are such a nice blogger, you can have a room in my small palace for US$300 per night with breakfast. There are no spa services at my small "palace" For that you have to take a short walk to Banyan Tree. We can go there together but it's your treat.

Hehe.