I can't wait to have a million dollars in the bank. Can anyone relate?

[curiosity_20]

if everyone has a million $, the first thing that will happen is the prices of everything, including necessities, will skyrocket.

ppl that think that this million $ will last them a life time will stop working, causing a severe manpower shortage which will create supply shortage of all goods and services, making the price to skyrocket even more.

next thing that will happen is ur million $ will become worthless, and ppl need to find an alternative form of currency and start earning them. and obviously, some will be better at earning than others, so wealth disparity will come back again.

So in other words, ur million dollar will jus cause severe economic disruption and make everyone life miserable before things settle down to where it used to be.

But what if the million dollars come from GDP growth and wealth redistribution policies? In that sense, the money wouldn’t just be printed out of thin air, causing inflation. Instead, it could come from more equitable distribution of economic productivity gains. For example, if technological advancements or innovations drastically increase productivity and GDP, the surplus wealth could be redistributed to ensure that everyone benefits.

Moreover, proper planning and implementation of wealth redistribution policies could prevent the type of labor shortages you’re describing. For instance, rather than a direct handout, the redistribution could fund universal basic income (UBI) or social programs that ensure basic needs are met while still incentivizing work, education, and innovation.

Additionally, with appropriate measures, such as price controls on necessities, investment in automation to counteract labor shortages, and a transition period for economic adjustments, the system could mitigate the risks of inflation and supply shortages. In this framework, the goal isn’t to create dependency but to provide a safety net that empowers people to pursue more meaningful work, entrepreneurship, or education, driving further growth and innovation.

What do you think about such a structured and balanced approach?

 

[curiosity_20]

Youngsters must cultivate the habit of saving
Save save n save.

Teach your kids how to save using this. You need to setup 3 types of savings account. Rainy Day Fund, Endowment Fund, Stability Fund. You follow MAS you won't go wrong.

 

[cyke69sg]

if i had 1 million, i want to buy house and car, fly to japan to eat sushi and italy to eat spaghetti. friends need money just ask me, don't feel embarrassed.

$1m enough to buy landed house and car? You have no idea.

 

[Mephist0pheLes]

But what if the million dollars come from GDP growth and wealth redistribution policies? In that sense, the money wouldn’t just be printed out of thin air, causing inflation. Instead, it could come from more equitable distribution of economic productivity gains. For example, if technological advancements or innovations drastically increase productivity and GDP, the surplus wealth could be redistributed to ensure that everyone benefits.

Moreover, proper planning and implementation of wealth redistribution policies could prevent the type of labor shortages you’re describing. For instance, rather than a direct handout, the redistribution could fund universal basic income (UBI) or social programs that ensure basic needs are met while still incentivizing work, education, and innovation.

Additionally, with appropriate measures, such as price controls on necessities, investment in automation to counteract labor shortages, and a transition period for economic adjustments, the system could mitigate the risks of inflation and supply shortages. In this framework, the goal isn’t to create dependency but to provide a safety net that empowers people to pursue more meaningful work, entrepreneurship, or education, driving further growth and innovation.

What do you think about such a structured and balanced approach?

universal income is very different from having a million dollar. and as the name suggest, u will just be able to afford the basic living expenses (which most singaporeans today already can, with the help of targeted govt assistance - i have not heard of anyone dying of hunger or have no access to medical treatment in sg), not wat u might be thinking of having a million dollar to spend on a comfortable lifestyle.

 

[Philipkee]

I think if everyone had a million (or maybe billions in today's standard) dollars in the bank account, everyone can afford for more vacations to relax and have fun rather than face the daily pressure of living, of upskilling, of keeping up with technology, of reporting to work daily and dealing with deadlines..

As of now, I don't have a million dollars in the bank. Living is stressful due to high competition, threat of layoffs, KPIs, deliverables, etc. Then dealing with unknown health conditions, random sickness, weird viruses, air pollution, micro-plastics in food, etc. Heck I don't even want my kid to be born on this Earth...spare them of the stress and madness.

Won’t work unless we have natural resources or something. Everyone have a million dollars, our dollar will just decrease in value

Otherwise Zimbabweans should be the richest people on earth with trillion dollar notes

 

[jumpthepig]

$1m enough to buy landed house and car? You have no idea.

Many millionaires also live like poor man…living a simple peaceful life and doing what they like to do…

 

[mastermember]

You have 1 mil, you will want 5 more

 

[cyke69sg]

Many millionaires also live like poor man…living a simple peaceful life and doing what they like to do…

Is only when diagnosed with terminal illness time is up then that is when people finally find peace and meaning of their lives in hindsight.

It is actually quite comforting to know that the end is coming and then can sort of decide want to spend or not? Or give money away?

Important is that don't die with suffering and be a huge burden on others

 

[cyke69sg]

You have 1 mil, you will want 5 more

Only 5 more? 100 more.

 

[Cmonster]

Frankly I would prefer if I could die peacefully sooner than later. But have to wait till I get cancer or some illness.

I hope you don't have to regret saying this sentence one day

Dying from cancer is in no way peaceful

Not for you and not for your family

Many edmwer here can tell you personally

Don't trivialize cancer

 

[hwarzoner]

one mil is a good milestone, slowly accumulate more

 

[alpha29]

Life is really tough for those in forties with kids and elderly parents.

We used to go for weekly restaurant meals, but have cut back on those. While our household income had increased, our expenditure had increased way more compared to pre-covid, not to mention job security risks for us in forties, higher work stress, health concerns etc..

No wonder most Singaporeans remain dink or look so unhappy. And govt still wonder why we not giving birth. Pui.

 

[wooooot]

the million dollar dream is in the 80s like the hokkien song, now where enough ?

 

[Ahgirlgirl]

I think if everyone had a million (or maybe billions in today's standard) dollars in the bank account, everyone can afford for more vacations to relax and have fun rather than face the daily pressure of living, of upskilling, of keeping up with technology, of reporting to work daily and dealing with deadlines..

As of now, I don't have a million dollars in the bank. Living is stressful due to high competition, threat of layoffs, KPIs, deliverables, etc. Then dealing with unknown health conditions, random sickness, weird viruses, air pollution, micro-plastics in food, etc. Heck I don't even want my kid to be born on this Earth...spare them of the stress and madness.

@Kaylin feels rich looking at the cpf

 

[zohn1999]

I think if everyone had a million (or maybe billions in today's standard) dollars in the bank account, everyone can afford for more vacations to relax and have fun rather than face the daily pressure of living, of upskilling, of keeping up with technology, of reporting to work daily and dealing with deadlines..

As of now, I don't have a million dollars in the bank. Living is stressful due to high competition, threat of layoffs, KPIs, deliverables, etc. Then dealing with unknown health conditions, random sickness, weird viruses, air pollution, micro-plastics in food, etc. Heck I don't even want my kid to be born on this Earth...spare them of the stress and madness.

Oh everyone has one million then the baseline for poor shifted up. Everything is relative. You obviously not too smart.

 

[cyke69sg]

I hope you don't have to regret saying this sentence one day

Dying from cancer is in no way peaceful

Not for you and not for your family

Many edmwer here can tell you personally

Don't trivialize cancer

Not for you in SG.
But it can be for me in Canada. We have Medical Assistance in Dying. MAiD.

Cancer is very cham. Really suffer if go through the natural course of it. Chemo. Radiation. Surgery. Tubes.

I don't want to go through that. I will choose to have MAiD.

 

[wooooot]

$1m enough to buy landed house and car? You have no idea.

he just reading the lyrics from the if i had a million song la

 

[jumpthepig]

Is only when diagnosed with terminal illness time is up then that is when people finally find peace and meaning of their lives in hindsight.

It is actually quite comforting to know that the end is coming and then can sort of decide want to spend or not? Or give money away?

Important is that don't die with suffering and be a huge burden on others

Valar morghulis - All men must die

澳洲大漢：You died before？ （你死過嗎？） 蔡瀾：I have lived（我活過）

 

[cyke69sg]

Valar morghulis - All men must die

澳洲大漢：You died before？ （你死過嗎？） 蔡瀾：I have lived（我活過）

I have experienced ego death. It was during my Ketamine psychedelic journey. Became nothing. One with the universe. Very peaceful tranquil. I liked it.

 

[benobiwan]

Rmb what your fav PM LW said.

He won't leave u behind

he juz drop u nia