In a thought-provoking TikTok video shared on Thursday (Nov 16), user Cflieu, a self-proclaimed financial strategist, delved into the reasons behind the envy that some Singaporeans harbor towards their Malaysian counterparts.
Cflieu kicked off his video with a brief overview, highlighting the essence of the matter. According to him, Singaporeans’ envy is rooted in their secret desire for certain aspects of Malaysian life. He contends that Singaporeans are envious because Malaysians possess and enjoy things that they themselves covet.
IEPF vs. CPF: Retirement Savings
One notable difference highlighted by Cflieu is the retirement savings schemes in both countries. Malaysians can withdraw their entire savings from the Employees Provident Fund (EPF) upon early retirement, making them potential instant ringgit millionaires. In contrast, Singaporeans face restrictions on CPF withdrawals, leading Cflieu to humorously remark, “Singaporeans, wait long long lor.”
Car Ownership in Malaysia
Cflieu pointed out another economic aspect that fuels envy—the ability of Malaysians to afford a car even with a fresh graduate’s salary. On the flip side, he noted the challenges Singaporeans face in obtaining a Certificate of Entitlement (COE) after working for a decade.
Sterility of Singapore
Despite labeling Singapore as “sterile,” Cflieu acknowledged the government’s good intentions, citing the MediSave component in CPF. He questioned which government mandates saving for medical care during old age and reflected on the unique aspects of Singapore’s approach.
Renouncing Citizenship for a Car
Cflieu humorously touched upon the rare occurrence of Singaporeans becoming Malaysians solely to own a car. He listed the trade-offs, emphasizing the value Singaporeans place on aspects like Hainanese chicken rice, a corruption-free government, pristine toilets, and the renowned efficiency of Singapore’s systems.
Pros and Cons: Comparing Singapore and Malaysia
Expanding on the “sterile” label, Cflieu shared his perspective on the pros and cons of both countries. While acknowledging Singapore’s cleanliness and efficient government, he emphasized the uniqueness of each place. Additionally, he highlighted the role of meritocracy in Singapore’s job market.
The Jealousy Factor
In his five-minute video, Cflieu concluded by addressing the jealousy factor. He observed that some Malaysian expats earn more than their Singaporean counterparts in highly skilled professions. This, he posited, contributes to the envy, although he expressed confusion, given Singapore’s meritocratic principles.
In a parting message, Cflieu advised against complaining and urged Singaporeans not to feel threatened by more capable individuals, regardless of their nationality.
@cflieu Replying to @cflieu this is the clip @Malaysia Finance Strategist for Malaysians, as a licensed financial advisor who has Malaysian clients with Singapore permanent residency, working in Singapore yet planning to retire rich, retire early before 60 back in Malaysia after milking that strong Singaporean dollar during their peak earning power years in their 40 and 50 years of age. #ringgitmalaysia #malaysiavssingapore #cpf #cpflife #singaporevsmalaysia ♬ Emotional – Bang Nono