Think Bill Gates, Steve Jobs or Mark Zuckerberg. No, they are billionaires, wrong role models. In Sin, there are several easy ways to be millionaires, and don’t take the entrepreneur route. That is too difficult and treacherous and many will fail along the way.
One sure and easy way is to buy a public flat and sit on it. No need to work. Just wait, 10 years, 20 years or 30 years. The price will surely go up. It will definitely go above $1m in time. And there is a luxury of 99 years to wait for it to happen.
The other sure way to becoming a millionaire is to be an employee, a civil servant. Many in the Administrative Service are millionaires many times over. And it is sure and fast. Once one reaches a certain level, in the super scale, one could be a millionaire every year on. That is how easy to be a millionaire as a civil servant.
The other route is to be a politician. This one is even more rewarding. Many of the politicians, even MPs, are multi millionaires in their own right. And if one is senior enough, one could retire and continue to receive millionaire income every year, maybe faster than that without having to work.
Why would anyone want to be an entrepreneur when the success rate is so low? Be an employee, a public employee. Or just buy a public housing flat, and it is a matter of time to become a millionaire. One qualification with regards to this type of millionaires. Many are taking public transport to work not by choice but because they could not afford to buy a car. And many are waiting for govt handouts to make ends need. But is it still a very good feeling to know that one is worth a million in asset terms.
Can anyone understand why the queue to be citizens is getting longer?
Same reason why some "chose" to be grassroot advisor than elected MP?
ReplyDeleteCorrection redbean: one doesn't "buy" an HDB. One LEASES it. The property title is in the LEASE, which can be traded "as if" (let's pretend?) it is "real" property.
ReplyDeleteBecome a millionaire from "public" housing. No need to do squat. Uniquely Singapore lah!
You don't always try to pour cold water lah. Who cares if it is lease or buy? Who cares if it is 99 year or 30 year lease as long as it is valued at $1m, it is $1m lah.
ReplyDeleteI'm not pouring cold water. I was merely stating a FACT.
ReplyDeleteWhen you spend your last pennies and go into debt to get your HDB, then spend a significant portion of your life paying off the loan, you're actually taking on an "invisible" but NOT silent partner -- the Singapore government.
And they have leverage over you at all times. Your silent partner is known to change the rules, manipulate the prices, manipulate the supply...all perfectly legal BTW.
HDB has been a political tool for manipulation of the masses for countless elections already. Now it is used to pitch one portion of the electorate against the other. DIVIDE AND CONQUER.
Those who own $1m HDBs are elated and are likely to support the govt -- even though they loath the people running the govt. On the other side are the pissed off would-be buyers who are priced out of the market.
Civil war lah. Non violent, but war nonetheless.
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ReplyDeleteThere is no need for S'poreans to invest in SG property -- the world is our oyster. New York, Sydney, London, Penang/KL/Johor.
ReplyDeleteThe days of buying a HDB and seeing it's price increase 2-5 times are over.
One can become instant billionaire by getting out of Sin.
ReplyDeleteGo Indonesia, Vietnam and South Korea.
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