Many retirees living off their pensions are in dire straits given the
galloping inflation rate over the last decades. Whatever pensions they
are receiving have been eroded to less than half their values and
dwindling further every day. They thought it was a great blessing to be
alive for so long. The truth, the longer they live, the worst their
financial position will be. Those who are lucky enough to have bought
properties could still live on quite comfortably. Those without would
have to make do with whatever they have, downgrading if they can. What
about those without pension, without property and with no dependents?
The plight of the oldies is not a once off thing. Those in their 40s or
50s will join this group of cursed citizens very soon. Each with a life
span of 80 or 90 years but many would have lost their jobs in their 50s.
The only saving grace is to pawn their HDB flats. But this is only
possible if they are not struck by a serious illness that pawning their
HDB flats would not be enough.
How many oldies can survive 30 or 40 years without a source of income?
Even their HDB flat cannot provide for everything as they still need a
roof over their heads. Would they all end up renting a room from other
oldies to live through their last days?
But that is not all. The escalating cost of living is going to be
accompanied by an escalating medical cost. And this one is more deadly
in the sense that no one will be exempted. They will have to pay, like
it or not, fit or unfit. The only good news is that the govt has said
the premium is going to be light on them. How light and affordable is
questionable given that they no longer have an income and with 30 or
more years to live. Many young and able could not survive without a job
for a year.
Cursed are those who have long life in this Sin City. Exceptions will be
those with many properties or with a million dollar pension. Every
oldie should be worried where to find the money to pay for Medishield
Life premiums. No where to run, no where to hide. Beh Si premium scheme,
is a payment that the oldies will have to pay for being alive. They are
so lucky to have such a caring govt.
23 comments:
MEDIFREE LIFE can help to solve part of the problems.......
The health minister can meaningfully celebrate Mr LKY
90th birthday........
Invite Mr LKY to launch the LKY MEDIFREE LIFE, whereby seniors age 65 and above get FREE basic/standard healthcare.......
I think we have the means/reserves to do it as a nation. What is needed is the political will.......
Worth considering.......
redbean:
>> Exceptions will be those with many properties or with a million dollar pension.
Yup. These are the good folks who lived their lives wisely and prepared for their future. They probably sacrificed (i.e. paid the necessary price, and were willing to "forgo immediate satisfaction" for longer-term goals) during their 40-50 productive years -- i.e. well enough time to "get your shit together".
>> Every oldie should be worried where to find the money to pay for Medishield Life premiums.
Too late, fuckers. Shoulda-woulda-couda: Should have made long-term plans, and worked toward them diligently, and Looked After Number One from the get go. Sorry lah, NO EXCUSE!
There are many people who "take care of business", everyday -- they watch their health, finances and relationships -- professional and personal. They occasionally succumb to temptation, but get back on track -- looking after themselves, their families, their career, their finances, and of course, their mental/ psychological state. Except for sudden death or devastation -- those "out of the blue" events no one can prepare for -- these people tend to do alright, and when they get older, they can rest easier and enjoy the consequences of their WISDOM.
...and then there are the other ne'er-do-well's who don't give a fuck about themselves (long term) or anyone else -- having high expectations for "someone" to look after them from cradle to grave.
Are they "cursed"? Not at all. They did it to themselves!
The retiree pension is the rent collected by subletting HDB to FT. This system is ultimately unsustainable as more and more retire without savings, more and more FT got to be brought in.
The burden placed on FT will drive away true talent. A lot of talent are not the Warren Buffet type but the nerd type engineers that could have little monies. Right now, China FT has already found SG unattractive compared to Beijing, Shanghai and Shenzhen.
Soon very few people other than scum will want to come.
Matilah, I have seen many successful people that went bust and went down on their knees and cried. When they were successful they claimed that they were clever.
In life many a times it is not how clever you are but whether you are meant to be rich. Many average fools are rich like hell and many very intelligent dudes are poor like hell.
Heard of lucky fools?
redbean:
Yes, of course. There is always the case of bad luck and good luck -- "luck" being nothing more than the human mind's representation of probability of random events.
However these goo-luck/ bad-luck cases are (statistically speaking) outliers. If you're trying to make a case by using extremes as examples, then you are really grasping at straws.
You might as well counsel people to "have a good time" and "not prepare for the future", and just buy 4-D and lotteries to take care of their financial lives.
"How many oldies can survive 30 or 40 years without a source of income?"
RB
If PAP don't worry, why you worry?
By hook or by crook, they will survive lah.
And not only survive but at least 60% will also be happy enough to vote for PAP.
The Chinese believe in your destiny with life being number One. Luck is down at number Two.
Using the Chinese people in China as an example. The current crop of Chinese are not more intelligent than their grandparents or great grandparents. They are living very different lives. One in stark poverty with no opportunity and now with all the opportunities to be rich.
On the individual level, many are born with a silver spoon, into royalties and aristocracies or being minister's children.
Life is not as simple as you think.
How come LHL never claim that Singapore's poor old people are the richest poor old in the world?
Oldies can survive lah.
If they got more money, they survive better lah.
If got much less, they will have to survive with less lah.
Maybe need to pick cardboard boxes, or for those who are smarter they can blog for some extra kopi money lah.
But whatever lah, they will survive because PAP will help those who can't. Like free meals for the oldies and $400 monthly social welfare money lor.
Sure can survive one lah.
Nobody died from starvation in Sinkieland, tio bo?
75 year old even had paid sex with underaged girl!
Based on Maslow's hierachy of needs, these oldies definitely have money to go beyond basic needs! LOL
Maybe PAP knows better than RB about our oldies.
@redbean 1106:
>> Life is not as simple as you think.
Who the fuck thinks that and actually believes it?
Life is full of uncertainty, and that's just to begin with. Then you have your own usually "troubled" relationship with your many "selves", add to that the complex and fluid relationship with others.
Out of the blue come health challenges, financial "shocks", and a whole heap of stuff you're not even aware of which can go wrong -- at any time -- sometimes your fault, sometimes the fault of others which you have no control over.
Life can be beautiful and ugly, and there are no guarantees. Everyone is responsible for where they are and what they are experiencing -- which means, no matter how ugly it gets, you do not have a "right" to foist your bad luck or own self sabotage on others; others who are themselves dealing with their own challenges.
Life: no one gets out alive.
Redbean,
We should not blame the regime. I never voted for them and over 80% Sinkies did... It's too late and far too deep in the hole. Even with less than 7 millions, Singia is unsustainable. We can't and will not take care our senior. How to take care of - FT, PR and New citizens' senior?
I remember HK in the 60's. I was stunned at the overcrowding with massive PRC's refugees. You wouldn't believe the sandwich. I guess HK’s population in the 60's was around 3.5milions. Kowloon was jam pack especially "Kowloon Tong" near the airport. I was renting a toilet converted to a double bunk bed room with a Sinkie in Tsimshatsui. That was the cheapest and safest place we can afford. The exchanged was approx $1 SGD = $3 HKD.
Like I say earlier, most oppositions’ Sinkies are no differences from the regime's supporters. Suma suma. Good Luck.
I am happier when RB write about Syria and the antics of war mongering Uncle Sam. The propect of a new world war with the consequential depression gives me hope of a new life with fewer people and less rush for world resources.
But when he write of about the cursed Singaporeans, he has so much to write. Part 1 follow by part 2 and who knows how many more parts. He depressed me when he cursed Singaporean like that and made me suicidal,
Luckily the SIA counter I bought below $9.50 has appreciated and that gives me strength to live another day.
Quite a scary outlook! Probably have to work till we drop dead.
Just like Senior Lee?
'PM Lee's NDR promise: Every Singapore family who is working can afford their home'
- just have to keep working even as cleaner. If still cannot afford their home, then can prepare to sue the PM.
Actually sinkies are quite blessed comparing to many third world people in indonesia, pinoy, pakistan, afgan, india, china, east eu etc. So long as we do not insist we are first world and compare to people in first world, we will feel blessed.
Me am agreeable with those who claim oldies are able to survive, however, would like to say ONLY the elderlies above sixty five year olds who had paid up for their shelters and have some savings with no vice as hobbies. These oldies may even be helping out their children financially or with their domestic chores.
As for those who are still servicing mortgages or who are sickly or addicted to vices; survival will be challenging and if not, a great struggle.
Cost of living will keep going up; there is absolutely NO POLITICAL WILL to rein in or lower it. The Latest Round of COE RATES is UTTERLY NONSENSICAL AND ABSURD, ESPECIALLY SO WHEN IT AFFECTS ALL COMMERCIAL VEHICLE. HOW THE HELL COMMERCIAL VEHICLES WHICH ARE ESSENTIAL FOR ALL BUSINESSES ARE CONTROLLED BY SUCH HIGH COE, IS IMPOSSIBLE TO UNDERSTAND
For those 50 year old and younger, not only all are cursed, THEY ARE MERCILESSLY SCREWED BY THEIR POLITICAL LEADERS. THERE IS NO DOUBT ABOUT IT
patriot
What is the point of living up to 80 or 90 and above.There will be a day when children will see them as a burden especially if one has no property to leave behind.
Pensionable or not,daft retiree Sinkie should spent and enjoy whatever they have in nearby countries ,karaoke ,visit those red light area that the have not visited or hugging mei meis until drop dead.
Nothing shameful to sleep on the five foot way.You will not be alone.I know some who went to JB and sleep under the staircases.
Not one will kacheow you.
Maybe you can still get free treatment when ended in hospital if you dun claim to be a Sinkie and act blur blur.
One can oso act blur blur if warded in hospital here .Just say you are homeless .
Another joker at the kopitiam told me he want to scold Garmen Chialat chialat and get himself in Changi Hotel for free stay.I told him better not cos Garmen is good.Just that you all dun feel it.
Nothing to worry once one kick the bucket.Go enjoy.Whats there to curse.
@agongkia:
Absolutely right. One should always try and make the best out of any situation. Complaining and worrying just takes too much energy and "bandswidth".
In fact, one's IQ can drop about 13 points if the brain is allowed to dwell on financial problems.
In a nutshell: worrying about being poor is bad for your IQ. Believing one is reasonably financially secure (a mental state) is very good for your IQ.
Just came across ex-Google China chief saying this morning (ST 7 Sep 2013 page A22).
He said "At the end of the day, everyone is equal before cancer".
For you to think about......
If only every being is able to be true to their belief.
If only everyone is able to behave like 'Ah Q(Bumpkin).
If everybody submits to their his/her own fate.
There shall be no complaint about living.
It's almost a few years since the general election. How do you rate the government?
a) They are doing a fine job.
b) They are doing their best in a difficult situation.
c) Failing in many areas.
My vote is C.
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