Financial Planning

I watched 'Singapore Dreaming' and 'Perth: The Geylang Massacre' recently. Much better stuff than the crap Jack Neo churns out. They both cast a critical eye on life in Singapore. Specifically, when you're living paycheck to paycheck. It set me thinking. Lots of people around me are like that, trapped. 2,3,4 children to support (God help you if you have 5). A mortgage to pay. No savings, at all. Often, no life insurance. Poor health (overweight or obese). These people can't afford to stop working, to fall ill, even to die! Very often, they also have limited employment prospects due to a lack of paper qualifications. They are forced to accept the bullshit dished out by their bosses because they can't afford to say 'I quit'. I really feel for you.

I'm not in that great a shape myself. My mistake was getting married. I have spoken out against marriage since I was 17. It's hugely ironic that I failed to follow my own advice. Now, I'm even more convinced that marriage sucks (it will, for 80-90% of people, mainly the men). More and more people are beginning to realize what I've known all along. Children are nothing but a financial liability. You cannot count on them to look after you when you grow old, too risky. Look at the birth rates in Singapore - 1.08 per woman for the Chinese (they're the practical ones). If not for my marriage and my daughter, I would have been financially independent by now, age 40. As it stands, I'm looking at another 5 years of full time work (hopefully). I'm a very responsible person, and I intend to fully provide for my daughter. Of course, she has to 'earn' her inheritence by getting a job and showing that she can handle money. I'm prepared to set up a trust if she turns out to be a spendthrift.

To be happy in life, don't bother comparing with others. Do what makes you happy. So what if your friend/ neighbour/ classmate lives in a condo? I've lived in a HDB (90 sq m), a condo and landed. I'm comfortable anywhere. So what if your friend drives a Merc or BM? He's got a big car loan (if he doesn't, that a different level or rich), I don't. In fact, you'd save a boatload of money by not owning a car. I'm happy with a computer and broadband. And how much money does that take?