What You Will Do If You Get Retrenched

[kzonexx]

With more retrenchment expected this year, let's share what your plans are if u're retrenched. State sex & age if u don't mind

1/ Male 39 - Be a hawker

 

[oceanicmanta]

1/ Male 39 - Be a hawker

sell what food ?

 

[dork32]

stay in my 4-room hdb instead of condo.

my rental + dividend + interest should be able to provide me with a decent life.

 

[shareholder]

If retrenchments get massive, it will be good news for all. Join us as shareholders today! The more shares you own, the happier you are!

 

[homer123]

I have enough passive and rental incomes to retire early. Retrenchment might be a good thing if it come with some package.

 

[neanea]

Go to other countries like how foreign talents come to sg

 

[focus1974]

#FML@40

What is this thread doing here ? Shouldn't this be in EDMW ?

 

[starlight318]

Have enough passive income for basic living expenses, will probably spend 1 month travelling and then slowly look for job. Might consider switching to different industry.

Age: 37/Male

 

[havetheveryfun]

With more retrenchment expected this year, let's share what your plans are if u're retrenched. State sex & age if u don't mind

1/ Male 39 - Be a hawker

be hawker need a lot of upfront cost leh.. renovation, 2-3 months or more of rent in advance , buy live ingredients etc...

Have enough passive income for basic living expenses, will probably spend 1 month travelling and then slowly look for job. Might consider switching to different industry.

Age: 37/Male

how much your passive income ?

 

[aeriele]

F&B is saturated because of the low entry barrier. Not many can survive. As with any business venture, need high capital and lots of cash to burn before you can see profit. Manpower is a big issue as well.

 

[SBC]

How about Uber driver?

 

[tiny]

sell what food ?

Soya Bean drink, Grass Jelly drink, Fried You Tiao?

All low cost materials and high profit margin.

 

[elnewbie]

Uber or Grab driver FTW !

40yo male.

**** this garment for no social welfare !

 

[SBC]

Zheng uh is not giving any welfare for our own good.

 

[havetheveryfun]

Soya Bean drink, Grass Jelly drink, Fried You Tiao?

All low cost materials and high profit margin.

might as well say drinks stall in coffeeshop.. sell canned drinks don't even need any preparation, just buy cheap cheap from ntuc 50-70cents each and sell double the price

and if got good location, the only drink stall among many other food stalls, huat liao cos everyone go buy from you, no need compete with other food stalls

 

[wahkao3]

We should generate our own passive income and stop relying on our boss/employer for livelihood

Just heard a friend got downsized. Poor guy. 3 young kids, wife not working and tons of bills to pay. It is ever more important that we generate our own passive income and stop relying on our boss for livelihood. S

Even if you are a good worker, anytime not your fault tio dai ji also can kanna fired, especially if the company is not doing well. Boss say want to keep him,tell him dont worry.In the end,downsize him without any warning.

For example, dividend warrior is someone we should model. He has enough passive income to cover his expenses. He can stop working whenever he wants to and still upkeep his livelihood. I hear liao very jelly

MP will refer u to CDC or some WDA.

Recently spoke to my ex-corlick. Late 30s

An NUS engineering grad , gotch retrenched.
And worst timing happened to him. Married less than 2yrs , got a newborn son, got a house.

He seek help from MP.
MP refer him to CDC and WDA help.
They will refine ur resumes and interview skill sets.
And find some relevant jobs for u.

But forget about getting higher or same pay.
Most likely lower pay or SME.

These r the kind of scenarios u will experience
If u r jobless and aging.

PMETs form the largest group of unemployment.
http://m.todayonline.com/singapore/unemployed-pmets-set-get-more-help-finding-jobs

Forget about how u score well in school.
Forget about how many degree cert u have.
Forget about wat is ur last position

Once u r jobless.
Ur value goes downhill.

Like I always nag in this thread.
Always Invest in Yourself

If u don't bother investing in yourself ,
Don't expect ur boss, your company investing in you.

The best investment in the world, ish yourself.

Hard Self-Investment Truths.

You all agree or not?

 

[w1rbelw1nd]

We should generate our own passive income and stop relying on our boss/employer for livelihood

Just heard a friend got downsized. Poor guy. 3 young kids, wife not working and tons of bills to pay. It is ever more important that we generate our own passive income and stop relying on our boss for livelihood. S

Even if you are a good worker, anytime not your fault tio dai ji also can kanna fired, especially if the company is not doing well. Boss say want to keep him,tell him dont worry.In the end,downsize him without any warning.

For example, dividend warrior is someone we should model. He has enough passive income to cover his expenses. He can stop working whenever he wants to and still upkeep his livelihood. I hear liao very jelly






You all agree or not?

Thought we shouldn't be hard up over dividends?

Sent from OnePlus A0001 using GAGT

 

[focus1974]

a lot of times.. very hard for those middle income earners to squeeze out more for investment... and most also dont have aptitude for investing.

That's why I say most of them should really focus on saving as much and buying the biggest BTO HDB they can get..
most middle income should be able to pay down the whole loan within their limited 20years working cycle (now is 20 coz 40 is the new 50).

Then if realy retrenched... got option to downsize...
or to stay put and rent out 1 or 2 rooms to tide thru the difficult time..
means whole family stay in master room and rent out the remaining room..
lose of privacy is a small issue when compared to lose of home or life..

 

[havetheveryfun]

a lot of times.. very hard for those middle income earners to squeeze out more for investment... and most also dont have aptitude for investing.

That's why I say most of them should really focus on saving as much and buying the biggest BTO HDB they can get..
most middle income should be able to pay down the whole loan within their limited 20years working cycle (now is 20 coz 40 is the new 50).

Then if realy retrenched... got option to downsize...
or to stay put and rent out 1 or 2 rooms to tide thru the difficult time..
means whole family stay in master room and rent out the remaining room..
lose of privacy is a small issue when compared to lose of home or life..

but the problem is if u get retrenched when u barely paid 50% of ur house loan

 

[singaporesinger]

I don't think retrenchment will come to a lot of people's mind.. because it is not something which they think will happen. Hmm... really something to ponder about.