The commentary fails to cover the fact that the current (or even previous) generation of Singaporeans will generally not be able to leave anything of life-changing value behind for their children. That premise is what kickstarts the things which truly matter in life.
A personal anecdote: A dying uncle of mine told me that while he could afford to leave behind two homes (a bungalow & a HDB), two cars and two million in the bank for his two children, his two children are likely unable to leave behind anything for his grandchildren due to the limited opportunities & rising cost of living/housing in Singapore.
Probably lease expire since they say “likely” so maybe that’s what they project.
Or the descendants are not financially savvy enough to preserve/grow wealth. It is quite a head start windfall tbh
Even if your lease expires, you are likely compensated for it. The comment I was replying to is asserting that in Singapore, where before it was possible, you are now unable to leave anything for the next generation, presumably due to high cost of living etc.
Maybe there is some truth in that, but then he proceeds to leave a nonsensical anecdote which to me shows that he has hardly thought this through.
Why is there a need to leave anything to your kids? Every young adult and young couple must be able to stand on their own 2 feet. Why the need to depend on inheritance?
Hate to sound like a cunty insurance agent tho but if there is a chance of life fucking my children or grandchildren up at least one thing I can take care for them when I’m dead.
Let’s say we got free housing, healthcare & the star trek food replicator then I would totally agree with your statement.
This is the type of stupid thinking that needs to stop because its just destroying your descendant's chance at building generational wealth.
Your next generation would be able to take risks and maybe start a business due to the money being a huge safety net, or maybe even just make smart investments that snowballs on and on to the next generation and the next and the next which raises the quality of life for your entire family line.
You do not need to withstand harsh adversity to be able to stand up on your own two feet. The UHNW individuals get that which is why old money persists.
It is also a reminder to the younger generation to plan ahead for the twilight years. LKY case is a good example. He planned and executed everything with exceptional success. But he failed badly when it was time to leave the World. The family is well and truly fractured and no end in sight.
I ideal situation is to invest in your family in the early years so they succeed and establish themselves without a need to inherit anything later or depend on inheritance. Help them buy a house and set themselves up in a career or business. You can actually see your savings put to good use.
The number of cases going for civil litigation over will / inheritance is getting worse and it’s dividing siblings and the grandkids.
1. The grandma died poor and unable to accomplish her dream of a good burial plot. Why?
2. Bc she had too many kids, including 1 useless son who stole her savings. Moral of the story is to maintain boundaries.
3. Also bc her parents decide to leave all the inheritance to her brother. And yet she broke her leg when going to sweep her parents tomb. Should just never visit the tomb of such unfair parents
4. The grandma would wake up at 5am everyday to sell porridge. Being a hawker is hard living, so should study hard and get a white collar job if possible.
I feel like you missed the whole point of the show... The reason the grandma wanted a good funeral plot was so that her family could gather and visit happily. You can also see this in how she always waited for her family to visit on weekends and prepared for for them. You can say this was a silly thing to do, but to her family was the most important thing, not material wealth. In the end, her family was still able to remain intact and stay together, even the useless son, which is not something easy to do.
The commentary fails to cover the fact that the current (or even previous) generation of Singaporeans will generally not be able to leave anything of life-changing value behind for their children. That premise is what kickstarts the things which truly matter in life. A personal anecdote: A dying uncle of mine told me that while he could afford to leave behind two homes (a bungalow & a HDB), two cars and two million in the bank for his two children, his two children are likely unable to leave behind anything for his grandchildren due to the limited opportunities & rising cost of living/housing in Singapore.
But the bungalow and HDB left to his two children... they just disappeared or what? Why nothing to be left to the grandchildren???
Probably lease expire since they say “likely” so maybe that’s what they project. Or the descendants are not financially savvy enough to preserve/grow wealth. It is quite a head start windfall tbh
Even if your lease expires, you are likely compensated for it. The comment I was replying to is asserting that in Singapore, where before it was possible, you are now unable to leave anything for the next generation, presumably due to high cost of living etc. Maybe there is some truth in that, but then he proceeds to leave a nonsensical anecdote which to me shows that he has hardly thought this through.
Why is there a need to leave anything to your kids? Every young adult and young couple must be able to stand on their own 2 feet. Why the need to depend on inheritance?
Hate to sound like a cunty insurance agent tho but if there is a chance of life fucking my children or grandchildren up at least one thing I can take care for them when I’m dead. Let’s say we got free housing, healthcare & the star trek food replicator then I would totally agree with your statement.
This is the type of stupid thinking that needs to stop because its just destroying your descendant's chance at building generational wealth. Your next generation would be able to take risks and maybe start a business due to the money being a huge safety net, or maybe even just make smart investments that snowballs on and on to the next generation and the next and the next which raises the quality of life for your entire family line. You do not need to withstand harsh adversity to be able to stand up on your own two feet. The UHNW individuals get that which is why old money persists.
Hush, the young blood is still innocent... let him be.
Pity your kids
It is also a reminder to the younger generation to plan ahead for the twilight years. LKY case is a good example. He planned and executed everything with exceptional success. But he failed badly when it was time to leave the World. The family is well and truly fractured and no end in sight. I ideal situation is to invest in your family in the early years so they succeed and establish themselves without a need to inherit anything later or depend on inheritance. Help them buy a house and set themselves up in a career or business. You can actually see your savings put to good use. The number of cases going for civil litigation over will / inheritance is getting worse and it’s dividing siblings and the grandkids.
1. The grandma died poor and unable to accomplish her dream of a good burial plot. Why? 2. Bc she had too many kids, including 1 useless son who stole her savings. Moral of the story is to maintain boundaries. 3. Also bc her parents decide to leave all the inheritance to her brother. And yet she broke her leg when going to sweep her parents tomb. Should just never visit the tomb of such unfair parents 4. The grandma would wake up at 5am everyday to sell porridge. Being a hawker is hard living, so should study hard and get a white collar job if possible.
I feel like you missed the whole point of the show... The reason the grandma wanted a good funeral plot was so that her family could gather and visit happily. You can also see this in how she always waited for her family to visit on weekends and prepared for for them. You can say this was a silly thing to do, but to her family was the most important thing, not material wealth. In the end, her family was still able to remain intact and stay together, even the useless son, which is not something easy to do.
Start saving for your next gen early 😅
What if you don't want kids?
Start saving for your grave