A house can be a nightmare if the buyer's eyes are bigger than his wallet and if a lender - often protected by a government guarantee - facilitates his fantasy. our country's social goal should not be to put families into the house of their dreams, but rather to put them into a house they can afford.
--- warren buffet, in his 2010 newsletter to shareholders
Saturday, February 26, 2011
Family Life Practice (1m)
A new game will be created every 40 mins to allow you to practice this game in the fast mode. Each virtual year takes 1 min and the game is completed in 40 mins. Try it here: http://projects.easyapps.sg/fl
When you are familiar with the game, try the Family Life Challenge (1 game start at 10 am each day) and win the 3-book prize when you reach the top 5 positions during each day.
View these cartoons of Family Life.
When you are familiar with the game, try the Family Life Challenge (1 game start at 10 am each day) and win the 3-book prize when you reach the top 5 positions during each day.
View these cartoons of Family Life.
Who is better off?
My friend and his wife worked hard and struggle to make ends meet. They have a maid from Philippines who looks after their baby. The maid said that after completing her contract, she would have enough money to build a 3-storey house in the Philippines. Who is better off? The employer or the maid?
Singaporeans must realize that they have a debt that has to be paid over a lifetime, due to the high cost of housing in Singapore.
Singaporeans must realize that they have a debt that has to be paid over a lifetime, due to the high cost of housing in Singapore.
Local professors in Singapore
A local professor sent a message to me about the sorry tale of local professors in Singapore. I carried out a survey to ask for reader's comments about the views. 19 replied and 79% agreed with the local professor. See their comments here.
High medical fees
Here is a letter from the public about the shocking revelations on high medical fees. How can Singapore become so bad, and doctors can charge so astronomical fees?
This is why the Singapareans have to vote for a change at the forthcoming general election. It is about the future of our country and our children.
Read SGEP-Latest or here.
This is why the Singapareans have to vote for a change at the forthcoming general election. It is about the future of our country and our children.
Read SGEP-Latest or here.
At Grave Risk
Read this article. It explains the pain felt by many unemployed people in America. They are not able to find job, even though they are quite well educated.
Let us reflect on the situation in Singapore. Many of our people can find jobs, but the earnings are not sufficient to pay for the high cost of living. Both couples have to work, just to earn enough for themselves. This is why many families cannot afford to have children. Are we better off than America?
Singapore suffers from the same problem as America - a wide gap in income between the top people (who take away too much) and the rest of the population. Both countries follow similar economic policies,i.e. deregulation and free market, that contributed to this big gap. Both countries appeared to be doing well when the housing prices were inflating.
The housing market in America has burst. The housing market in Singapore is still going strong ... but only for the time being. When our housing market burst, we will suffer the real pain.
We have to build our prosperity on real work and not on financial bubbles and inflated asset prices. We are wasteful due to the false sense of prosperity. We tear down buildings that were built 10 years ago. Many of our educated people waste their years of training to work as property and insurance agents, to earn the high commission. The government and big companies spend astronomical sums for infrastructure, buildings, computer systems and management consultants and levy high taxes and fees to recover these spendings.
To avoid the fate of America, we have to reduce the income gap, cut down on the wasteful expenditure and find ways to control the prices, fees, levies and taxes.
Tan Kin Lian
Let us reflect on the situation in Singapore. Many of our people can find jobs, but the earnings are not sufficient to pay for the high cost of living. Both couples have to work, just to earn enough for themselves. This is why many families cannot afford to have children. Are we better off than America?
Singapore suffers from the same problem as America - a wide gap in income between the top people (who take away too much) and the rest of the population. Both countries follow similar economic policies,i.e. deregulation and free market, that contributed to this big gap. Both countries appeared to be doing well when the housing prices were inflating.
The housing market in America has burst. The housing market in Singapore is still going strong ... but only for the time being. When our housing market burst, we will suffer the real pain.
We have to build our prosperity on real work and not on financial bubbles and inflated asset prices. We are wasteful due to the false sense of prosperity. We tear down buildings that were built 10 years ago. Many of our educated people waste their years of training to work as property and insurance agents, to earn the high commission. The government and big companies spend astronomical sums for infrastructure, buildings, computer systems and management consultants and levy high taxes and fees to recover these spendings.
To avoid the fate of America, we have to reduce the income gap, cut down on the wasteful expenditure and find ways to control the prices, fees, levies and taxes.
Tan Kin Lian
Family Life Challenge
The Family Life Challenge starts at 10 am and will complete before midnight on the same day. Each virtual year will take 20 minutes. A new game is created each day.
Login to http://projects.easyapps.sg/fl Register your Email address and start paying the game. You can join at any time of the day, even after the game has started. If you reach the top 5 positions, you will win the 3-book prize. You also learn the skill of how to be successful in life - career, marriage and children. Read the Guide in Family Life game.
Login to http://projects.easyapps.sg/fl Register your Email address and start paying the game. You can join at any time of the day, even after the game has started. If you reach the top 5 positions, you will win the 3-book prize. You also learn the skill of how to be successful in life - career, marriage and children. Read the Guide in Family Life game.
Excessive behavior and profit
Does this comment also apply to Singapore?
To the Editor (NYT):
Bob Herbert’s Feb. 22 column, “At Grave Risk,” was the most insightful and courageous article I have read in a long while.
I, too, am one of the millions who have suffered in this continuous economic downturn. I have gotten myself and my family back on solid ground in spite of the predatory, unscrupulous dealings of banks, mortgage companies, the government and every other concern that is interested only in its own excessive behavior and profit.
There is no American dream. We are just a country of pawns who are at the mercy of a ruling elite. If things don’t change quickly, America will become no better than a third-world country.
Rich Becker
East Brunswick, N.J., Feb. 23, 201
1
East Brunswick, N.J., Feb. 23, 201
1
Risk Management for Young People
Young people are misled by insurance agents to invest their savings in a life insurance policy. The policy is inflexible and gives a poor yield. Here is a better approach for young people to manage their personal risk:
http://tankinlian.com/admin/file.aspx?id=145
http://tankinlian.com/admin/file.aspx?id=145
Expensive medical bill
Many people are worried that they have to incur big medical expenses, especially when they grow old. They are afraid that their savings will not be enough to pay the medical bills.
Here are some points for you to consider:
Here are some points for you to consider:
- No matter how much money you have, it will not be enough for your medical bills. Remember, a wealthy family spent $26 million for cancer treatment. It did not help - the patient died.
- You only need $30,000 for your medical bill after retirement, provided that you are willing to be treated in a subsidized ward and you have Medishield. This is sufficient for Medishield and the co-payments.
- You should not waste you money on expensive treatment that is likely to be unsuccessful. You have to let nature take its course.
- If you are very rich, it is all right to spend a lot of money on medical bills. If you are not very rich, there is no need to spend the money wastefully.
Tan Kin Lian
Stay with Medishield
Dear Mr Tan,
I would like your advise on the health insurance for obese people. I was rejected by NTUC health insurance because I have a high BMI of 33. I do not have any health problem. A few years ago, I was hospitalized and experienced a high hospital bill..
I applied for Aviva Mysheild as I can be insured with any question on medical history under their moratorium clause. When I received the policy, I learned that the moratorium does not apply if I have been rejected by another insurance company previously. What can I do now?
REPLY
I would like your advise on the health insurance for obese people. I was rejected by NTUC health insurance because I have a high BMI of 33. I do not have any health problem. A few years ago, I was hospitalized and experienced a high hospital bill..
I applied for Aviva Mysheild as I can be insured with any question on medical history under their moratorium clause. When I received the policy, I learned that the moratorium does not apply if I have been rejected by another insurance company previously. What can I do now?
REPLY
In my view, it is better to stick to Medishield. If you need medical attention, you can go to B2 or C ward, as the cost is affordable. If you buy Private Shield, you pay a higher premium and also a higher co-payment when you are hospitalsed. Read the following FAQs:
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