Singapore named world's most expensive city.

Reply to Singapore named world's most expensive city. on Sat, 15 Mar 2014 09:37:41 GMT

starlight1968sg — Sat, 15 Mar 2014 09:37:41 GMT

Nobody say much about the silent hike in price of petrol

Reply to Singapore named world's most expensive city. on Sat, 15 Mar 2014 09:35:34 GMT

Mawar — Sat, 15 Mar 2014 09:35:34 GMT

starlight1968sg:
True ?

http://i62.tinypic.com/2h3n986.jpg\">

:rotflmao:

Reply to Singapore named world's most expensive city. on Sat, 15 Mar 2014 09:27:55 GMT

starlight1968sg — Sat, 15 Mar 2014 09:27:55 GMT

True ?

http://i62.tinypic.com/2h3n986.jpg\">

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 05:07:51 GMT

Coolkidsrock2 — Fri, 07 Mar 2014 05:07:51 GMT

Funz:
That is Medisave. Shield is the insurance. Pay means no see money liao. But dun pay no coverage.

Choi, choi. Will also not wish to exercise on the insurance but don't pay cannot.

For me, I have gotten my premiums back many times over liao.

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 04:54:15 GMT

jetsetter — Fri, 07 Mar 2014 04:54:15 GMT

and Leong’s forum letters are often published by ST…another one is GG@Honglim. That one doesn’t even back up with stats!

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 04:52:16 GMT

3Boys — Fri, 07 Mar 2014 04:52:16 GMT

Bluebottle:
3Boys:
[quote=\"jetsetter\"]

:rotflmao: :rotflmao: :rotflmao:
They tell you the Heart Truths mah...
It's no accident every time I try to say it, it comes out as 'The Half-truths'....

HAHA! :rotflmao: Really should change their name.

High on statistics, low on true comprehension and understanding, is what I call their so-called 'exposes' (how to do the fancy \"e\" ah?). Easy to bluff those with no stats/analytics background.[/quote]Precisely.

It's actually malicious.

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 02:34:27 GMT

Bluebottle — Fri, 07 Mar 2014 02:34:27 GMT

Funz:
That is Medisave. Shield is the insurance. Pay means no see money liao. But dun pay no coverage.

oh yes, you are right! I read as medisave...

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 02:17:48 GMT

Funz — Fri, 07 Mar 2014 02:17:48 GMT

That is Medisave. Shield is the insurance. Pay means no see money liao. But dun pay no coverage.

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 02:12:43 GMT

Bluebottle — Fri, 07 Mar 2014 02:12:43 GMT

3Boys:
jetsetter:
[quote=\"3Boys\"]If you ask the usual obfuscators like Leong Sze Hian and Roy Ngerng, they will impute that CPF is a tax.

:rotflmao: :rotflmao: :rotflmao:
They tell you the Heart Truths mah...

It's no accident every time I try to say it, it comes out as 'The Half-truths'....[/quote]HAHA! :rotflmao: Really should change their name.

High on statistics, low on true comprehension and understanding, is what I call their so-called 'exposes' (how to do the fancy \"e\" ah?). Easy to bluff those with no stats/analytics background.

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 02:07:32 GMT

Bluebottle — Fri, 07 Mar 2014 02:07:32 GMT

pirate:
Bluebottle:
Sometimes I wonder why people have so many complaints about CPF. every country has a pension system, every country requires pension contributions from the working population.

From what I see, the majority of those complaining about CPF are not savers. They are spenders. These are the people who, upon receiving their CPF payout, are more likely to blow it on a holiday trip etc. than to save it for a rainy day or their old age. The very concept of saving for their old age is simply alien to them. If they had their way, the money will be gone in a few short years at best, and the state will be left carrying the can.

Savers are generally happy to leave the money in their CPF accounts, earning above market interest rates. I for one do not even want to touch my medisave account for medical expenses that I can pay for now. The interest rate for money in the medisave account is 4%. The interest rate for my savings in the bank is like what, 0.25%? It is a no-brainer.

Furthermore, the savings in our CPF are not even enough to allow us when we retire to maintain the same standard of living that we are used to. Why would I want to touch my CPF until I am really, really old? Lots of people underestimate how much savings they need for their old age if they were to keep their lifestyle after they retire.

Ah! a saver after my own heart. I think the interest is so good on a risk-adjusted basis that I'll pump in as much money as I can.

also cos i'm a simple person with no big material aspirations. like it's been said earlier on this thread, if you don't want a fancy car, non-hdb housing, Singapore is really very affordable. just going to Aust/Europe/US as a tourist, eating out is really expensive, and I'm not there long enough to buy a car or two.

Actually I think the truly well to do and financial savvy will also not touch their cpf savings or draw down when they reach the age where they are qualified to. cos outside interest so pathetic. if one doesn't need the money on monthly basis, really foolish to draw out or trigger monthly payments.

let it snowball! so wonderful to see the interest grow.

Reply to Singapore named world's most expensive city. on Fri, 07 Mar 2014 02:02:53 GMT

Bluebottle — Fri, 07 Mar 2014 02:02:53 GMT

Funz:
slmkhoo:
[quote=\"jetsetter\"]
slmkhoo, what do u mean nothing to show for it? Are u like me, hving some of my social security monies locked up in China?! I also paid hefty personal income taxes and contributed CPF to the Chinese govt. Nightmare to get my $ back after deciding to leave...but still managed too in the end. :xedfingers:
China's system is like Singapore's in that the money is kept under the employee's name. They just make it difficult for foreigners to get it out when they leave. The UK system is that the national insurance money collected goes into a big pot and is undesignated. Unless you stay and contribute for x no. of years (not sure how many), you are not entitled to draw on any of it. None of it actually 'belongs' to you.

That part would be like medishield, right? You pay, and if you do not use, you do not get the money back.[/quote]Erm, for medishield, any unused balance goes to our nominees when we pop off the earth... it doesn't go into a black hole lah.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 14:34:22 GMT

pirate — Thu, 06 Mar 2014 14:34:22 GMT

I don't understand. Is it a problem that the rich have to pay through the nose in order to buy or rent high-end/luxury properties?

Is it not a bigger problem that the recent dry spell may cause the price of imported vegetables from Malaysia to go up?
:?

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 11:09:59 GMT

Coolkidsrock2 — Thu, 06 Mar 2014 11:09:59 GMT

Think costs will go up more in future:

http://www.bloomberg.com/news/2014-03-0 ... ub-1-.html

http://www.cnbc.com/id/101468652/

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 06:27:25 GMT

3Boys — Thu, 06 Mar 2014 06:27:25 GMT

jetsetter:
3Boys:
If you ask the usual obfuscators like Leong Sze Hian and Roy Ngerng, they will impute that CPF is a tax.

:rotflmao: :rotflmao: :rotflmao:
They tell you the Heart Truths mah...

It's no accident every time I try to say it, it comes out as 'The Half-truths'....

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 06:23:25 GMT

jetsetter — Thu, 06 Mar 2014 06:23:25 GMT

Funz:
slmkhoo:
China's system is like Singapore's in that the money is kept under the employee's name. They just make it difficult for foreigners to get it out when they leave. The UK system is that the national insurance money collected goes into a big pot and is undesignated. Unless you stay and contribute for x no. of years (not sure how many), you are not entitled to draw on any of it. None of it actually 'belongs' to you.

That part would be like medishield, right? You pay, and if you do not use, you do not get the money back.

yes, but can be used for housing too, Funz, for locals. Can get back, but you need to slay many dragons to get to the treasure box. A pain in the behind.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 06:21:01 GMT

jetsetter — Thu, 06 Mar 2014 06:21:01 GMT

3Boys:
If you ask the usual obfuscators like Leong Sze Hian and Roy Ngerng, they will impute that CPF is a tax.

:rotflmao: :rotflmao: :rotflmao:
They tell you the Heart Truths mah...

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 06:10:24 GMT

3Boys — Thu, 06 Mar 2014 06:10:24 GMT

Funz:
rains:
Regarding the basket of goods used, I remember reading an article on The Straits Times on how our cost of living was so very low. I can't recall the numbers but it was so low that even a scrooge like me was appalled at the claim. Then the husband's friend who worked at the related agency told him that the basket of goods used to measure the cost of living consisted only the lowest-cost items eg. if it's toilet papers, it was the cheapest possible in the market, the kind that makes your butt painful and most people would not use.

About taxes: I also recall an expat journalist who writes one of the columns in The Straits Times writing an article about cost of living in Singapore versus some ang moh countries. He mentioned that Singapore does not have high taxes per se, but there are many 'taxes' in disguise which jacks up the cost of living. Can't remember the details but he did mention COE, CPF and a host of other items which we usually don't see as 'taxes'. In a nutshell, these things, when added up, actually cost more compared to their 45% tax.
Most of the 'taxes' here are on items that we purchase, don't buy, don't incur. If take public transport, no COE, if don't drink alcoholic drinks, no alcohol tax, if don't smoke, no tobacco tax. These things are not essential items. If want to compare cost of living, the basket of goods should be made up of largely essentials.

And since when is CPF a tax?

If you ask the usual obfuscators like Leong Sze Hian and Roy Ngerng, they will impute that CPF is a tax.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 06:00:55 GMT

sharonkhoo — Thu, 06 Mar 2014 06:00:55 GMT

Funz:
slmkhoo:
[quote=\"jetsetter\"]
slmkhoo, what do u mean nothing to show for it? Are u like me, hving some of my social security monies locked up in China?! I also paid hefty personal income taxes and contributed CPF to the Chinese govt. Nightmare to get my $ back after deciding to leave...but still managed too in the end. :xedfingers:
China's system is like Singapore's in that the money is kept under the employee's name. They just make it difficult for foreigners to get it out when they leave. The UK system is that the national insurance money collected goes into a big pot and is undesignated. Unless you stay and contribute for x no. of years (not sure how many), you are not entitled to draw on any of it. None of it actually 'belongs' to you.

That part would be like medishield, right? You pay, and if you do not use, you do not get the money back.[/quote]I guess so.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 05:59:13 GMT

Funz — Thu, 06 Mar 2014 05:59:13 GMT

slmkhoo:
jetsetter:

slmkhoo, what do u mean nothing to show for it? Are u like me, hving some of my social security monies locked up in China?! I also paid hefty personal income taxes and contributed CPF to the Chinese govt. Nightmare to get my $ back after deciding to leave...but still managed too in the end. :xedfingers:
China's system is like Singapore's in that the money is kept under the employee's name. They just make it difficult for foreigners to get it out when they leave. The UK system is that the national insurance money collected goes into a big pot and is undesignated. Unless you stay and contribute for x no. of years (not sure how many), you are not entitled to draw on any of it. None of it actually 'belongs' to you.

That part would be like medishield, right? You pay, and if you do not use, you do not get the money back.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 05:54:36 GMT

sharonkhoo — Thu, 06 Mar 2014 05:54:36 GMT

jetsetter:
slmkhoo:
[quote=\"Bluebottle\"]In UK and US, they pay for social security, which goes to a pool which is then distributed in old age depending on need.

Yes, I worked there for a year, had 30% of my pay docked up front every month for taxes and national insurance, and nothing to show for it since I left the UK. I can't retire there and get any of my contribution back either. At least my CPF will always be mine!

slmkhoo, what do u mean nothing to show for it? Are u like me, hving some of my social security monies locked up in China?! I also paid hefty personal income taxes and contributed CPF to the Chinese govt. Nightmare to get my $ back after deciding to leave...but still managed too in the end. :xedfingers: [/quote]China's system is like Singapore's in that the money is kept under the employee's name. They just make it difficult for foreigners to get it out when they leave. The UK system is that the national insurance money collected goes into a big pot and is undesignated. Unless you stay and contribute for x no. of years (not sure how many), you are not entitled to draw on any of it. None of it actually 'belongs' to you.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 04:41:44 GMT

pirate — Thu, 06 Mar 2014 04:41:44 GMT

Bluebottle:
Sometimes I wonder why people have so many complaints about CPF. every country has a pension system, every country requires pension contributions from the working population.

From what I see, the majority of those complaining about CPF are not savers. They are spenders. These are the people who, upon receiving their CPF payout, are more likely to blow it on a holiday trip etc. than to save it for a rainy day or their old age. The very concept of saving for their old age is simply alien to them. If they had their way, the money will be gone in a few short years at best, and the state will be left carrying the can.

Savers are generally happy to leave the money in their CPF accounts, earning above market interest rates. I for one do not even want to touch my medisave account for medical expenses that I can pay for now. The interest rate for money in the medisave account is 4%. The interest rate for my savings in the bank is like what, 0.25%? It is a no-brainer.

Furthermore, the savings in our CPF are not even enough to allow us when we retire to maintain the same standard of living that we are used to. Why would I want to touch my CPF until I am really, really old? Lots of people underestimate how much savings they need for their old age if they were to keep their lifestyle after they retire.

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 03:28:11 GMT

raysusan — Thu, 06 Mar 2014 03:28:11 GMT

found a interesting video :xedfingers:

http://www.youtube.com/watch?v=-d7wd-rQ ... OOtp8iIykv

Reply to Singapore named world's most expensive city. on Thu, 06 Mar 2014 03:16:05 GMT

Bluebottle — Thu, 06 Mar 2014 03:16:05 GMT

jetsetter:
slmkhoo:
[quote=\"Bluebottle\"]In UK and US, they pay for social security, which goes to a pool which is then distributed in old age depending on need.

Yes, I worked there for a year, had 30% of my pay docked up front every month for taxes and national insurance, and nothing to show for it since I left the UK. I can't retire there and get any of my contribution back either. At least my CPF will always be mine!