The frustration of a middle class whom failed to plan.
I am currently in late 30s, and currently married with 1 kid. I am earning 30k a month, and my wife is around 15k a month.
We are staying in a humble resale HDB flat in Punggol, with no maid. We basically save more then we spent, but I just cant help thinking why I am not rich at all.
Recently I met a friend that bought a BTO, and sold it for around 200 plus k profit, and bought an EC in the time being.
now he and his wife each own a condo, where as I am still staying in a HDB.
I failed to plan, and I decided to start spending effort, but met with tons of hurdles
1) EC got income ceiling, that i dont understand why? HDB yes is provide shelter for all of us, but EC with subsidies? the other plus point is that you can but the EC when launched without incurring ABSD.
2) I am so dumb not to just use 1 owner, and 1 essential occupier for the HDB, now i cant use just 1 person name to buy a condo to avoid ABSD.
3) It is so troublesome, to have to sell my hdb first then to buy the condo, if not the 17% ABSD will take a serious toll of my saving. Let said a district 9-10 condo at 3m, the ABSD will already be $510k!
Just to rant, as the journey of investment is best to start with a BTO. Also hope that middle class like us are allowed to buy an EC. There should be no restriction on income.
Here are what netizens think:
- I understand you frustration. I earn close to you.. Ard 35k per month plus minus. Wife abit more than yours.. 21k..I stayed in 4 rooms. Every month I feel the pinch of not enough cash to spend and feeling like my life if heading to a dead end. Sometimes I will argue with my wife over our finances. Really feeling the stress of Inflation and I wonder how my kids are going to survive in the future.
- Nabei! You earn $30k per month u consider yourself middle class?. Then i what? low class? CCB
- I tell u something, u be grateful for wat u have been blessed with! N just for your info ur in the top tier of earners in sg. Save enough n go make memories with your family, otherwise with ur comparing nature with others, u will hv alot of walls n concrete n metal but no memories. Good Luck!