And I always believe people have the power to do something for themselves to bring themselves out of a tough situation.
So it's highly possible many people see me as insensitive to the lower income.
The thing is, many people don't understand poverty and homelessness.
There's a couple of layers of being low income or poor.
At the bottom end of poverty and homelessness, it's a complex issue. I don't proclaim to know much about it. At that position, the individual or family is pretty much stuck with little means to get out.
There are mental issues, income issues, other medical issues, etc.
If they earn less, they can get Government aid and get by. If they earn just a little bit more, they lose the Government aid and they can't get by, cos they have to rent at market rates and all the other stuff.
So there's incentive to stay within a certain income range.
BUT, how many people are living like this in Singapore? In total numbers, the number can be deemed as large. In percentage, not so much.
I understand that this group needs help and I'm not in a position to provide the help required.
They probably will not be able to get out of their situation on their own. I recognize that.
Then there are families which are getting by without any Government aid.
They don't earn a lot, but they are doing "ok". They can pay for their housing, food and basic necessities, they don't live in luxury, but they still try to scrimp and save to go on a yearly trip and still try to live a fairly normal life.
I met a cleaner auntie she's not living in poverty. She's getting by. Doesn't need aid, but not able to really spend on luxuries... Or so I thought... somehow, she didn't want to buy insurance/endowment plan for future savings but managed to buy a $1,500 diamond ring for no apparent reason. It's not like it was any special occasion to buy the ring. Just bought it for fun.
These folks, don't need any Government aid. However, they have gotten comfortable in their situation. They earn maybe $2,400 household income, can make ends meet, but any loss of income or sudden expense would mess up their finances.
People from this income group and any group which earns more than this HAVE the opportunity to make changes to elevate themselves to a better, more stable financial situation.
So the question is, is my belief true? Is it possible for someone or a family to elevate themselves from a low income to middle income? How likely is it? How easy is it?
A family moving from barely making ends meet to living a fairly good life, working normal working hours, saving for retirement, working til 60+ then retiring.
So for me, the question becomes, how far can someone go with a secondary school education, in modern day society. Can it be done easily?
Of course... if we talk about our parents era, then everyone only HAS a secondary school education, and I'm sure there are many success cases during those times.
But how about my generation? Born around 1982 give or take 5 years.
Can someone with just an 'O' Level cert, make it in life? Earn a respectable income and live a fairly good life without any financial worries.
I'm not talking about being super rich, retiring early or whatever. Just living a financially worry free life.
And so... the story goes... I know this guy.
Who's a couple of years younger than me. And he has only graduated from secondary school. Didn't go to Polytechnic or ITE.
When he first left secondary school, he tried to complete Poly, but he didn't.
Found some work, bounced around jobs for a bit. Then he landed a job as a retail assistant. I suppose that's a job that many people could easily attain. Most folks have done part time jobs as retail assistants.
And he got a job as a retail assistant at quite a reputable company. High end luxury goods.
He did pretty well and moved on to get further trained by the company to be a store supervisor.
So by then, he's making over S$3,500 per month or more.
Last I checked he was overseeing a couple of retail outlets and not just one store.
Cos he's employed in a fairly good company, he's covered for medical, and although retail is closed now, he's still able to get partial pay while staying at home.
Is this story unbelievable? No. I don't think so.
Is it attainable? Yes, quite attainable. I think.
It's not some big story about someone who started a business and became super rich. He's not some senior manager in the HQ, which probably his education level won't ever get him there.
It's potentially a relatable story. A kid who didn't study much. Tried a few jobs, found a good job, worked his way up to a good enough level in his career.
From this point, it's really up to him to plan for his own financial future. It depends on how much he wants to save, invest, insure, etc.
If he plans well, he is probably going to be financially stable in good times and even in bad times. And he will probably be able to retire without needing any help from the Government or kids.
I think, most of us recognize that in Singapore, most people would have graduated from secondary school.
As I said. I'm not talking about poverty and homeless people.
With just a secondary school education, which most people have, it is possible to upgrade and move on to earn more and become financially stable in life.
Attitude is important. Willingness to learn and change and adapt. And from there, to continue to plan and be prepared. Cos the only time to plan for bad times, is during the good times. Cos... cannot be plan for the bad times during bad times right?
Which is why I always believe that in Singapore, people are able to upgrade and enjoy a fairly good life IF they are hardworking and willing to adapt, learn and plan for their future.
It's not going to just appear without any effort on the part of the individual.
The problem I see, is that many people get comfortable with low income. As I mentioned in my previous post, they may be working as a receptionist or security guard and just settle in that job earning less than S$2k per month.
(As I said before. These are respectable jobs. I don't look down on them. But they aren't going to help someone be financially secure for their own future interest.)
The thing is, when most people get used to a certain work life/pay/lifestyle, they get comfortable and just work around it. They may start off at a fairly low pay, they can get by daily, no real issues, so they just continue life as it is. They aren't able to save cos of the low income, but life goes on... Until some disaster strikes. Like they lose their job, or someone falls ill. Then they get stuck and they potentially could end up in the "poverty, homeless" level.
But yet, if they wanted to, had the determination to upgrade and move up the income ladder, they probably could. All they need is the right mentality and the right attitude. (Note, I'm saying the "right" mentality and "right" attitude.) Not saying ppl who work in low paying jobs have bad mentality or bad attitude. They could have good attitude towards their jobs and overall life in general. But to move from one level to another level, a certain mentality and attitude is required.
The thing is...
It's Singapore. There IS opportunity. Even without much education, it is highly possible to move up the income ladder and earn a decent pay and plan for the future. Of course, this doesn't come without sacrifice. Nothing comes for free. One has to work hard, plan, save, insure, buy less expensive stuff, maybe travel less. But with the right mindset, attitude and good planning, even just an 'O' level grad can make it to a comfortable retirement in his old age.
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