Do You Want To Retire Before 60 ?

[AlfaLove]

Gahmen also one pattern, on one hand tell companies to hire more Singaporean and on another when companies tender for government jobs they go for the lowest tender. For companies to keep cost low have to hire foreigners

 

At the end of the day for most companies will subscribe to the younger, cheaper, faster routine especially in places where work is non creative related. No matter how much one retrain also cannot escape one lah

...

 

When I got retrenched late last year, I also angry and wanted to blame "the system". Hard to take when one is in 50s.

 

But anger clouds rational thinking, and career counselors also had good points to help mindset wake up:

 

Most white collar workers reach comfort zone and become risk-averse or never learn how to assess and take calculated risks. The pay regularly drops into one's bank account regardless of the outcome of decisions taken during work. More so for managers and older workers in deskbound admin roles.

 

There is little need to be on-the-toes. Miss a deadline for report, still get pay at end of the month. Most are doing paperwork and admin roles, few are craftsmen and professionals (who are required to achieve and deliver a certain level of high standard.)

 

Little by little there is no consequence to one's work actions or lack of action.

 

Then a decade has passed, and when the retrenchment happens, the older worker wonders why his skillset is outdated and there is no demand.

 

He wonders why the decades passed and he never turned his interests into valuable skillsets.

[RogerNg_185295]

Alfa, i cannot afford . May be the school boy should go read Romeo n Juliet.

Edited May 29, 2019 by RogerNg_185295

[Mercury1]

First of all no one here that I can see is blaming the company directly or playing the victim card.

 

Secondly I'm no where near 50's but I have been posted overseas for long term assignments (1 - 3 years) in various south asian/european offices. In all honesty if someone claims to have worldly experience to me had damn well better been working overseas in various locations for least 6 months or more in said locations but that's my view.

 

Thirdly the point mentioned here is people are treated unfairly in companies but perhaps not by the company itself, beyond pursuing cheaper faster better my companies senior staff are known to hire from their personal friends from the same country they hailed from, some school buddies etc, one guy even hired his bosses mistress. Anyway my HR put a stop to that by advocating Singaporeans first much to their dismay but they've been trying to get around it.

 

Companies are controlled by multiple humans with their self interest, your example is assuming everyone is acting in the companies interest and not their own which is not the case. And so long as humans act in their interest certain issues will arise.

 

As someone rightfully mentioned Singaporeans will always be at the losing end, we are in a first one country and we have first world obligations. There are many third world country people who are half your age, twice as smart and willing to work three times as hard for half your pay (which will still buy a house back home). Government need to find a better way to get balance especially since they are operating locally deriving benefits.

 

 

I think since we are mostly older workers here, the empathy-compassion gambit wears thin after the same excuses/reasons are heard over and over.

 

If you are in your early 30s, sure it's tough to decide where one's talents and skillsets lie, and how much time and effort to devote, and whether industry will value it.

 

But those in their 40s and 50s whinging and playing the victim card if they get retrenched or cannot get paid enough because wrong skillset, or cannot find the job role they relish? By that age, excuses are plain, lame excuses.

 

Say you get retrenched in 50s, how can one say it is unfair and unjust of the company when one had decades to retrain and decide one's specialisation according to talents and interests?

 

Company never prevent one from resigning to pursue better pay at competitor. One had years or decades to look for a better job.

 

Hasn't the company been more than fair by paying monthly salary, bonuses, increments, even the retrenchment benefits?

 

[Mercury1]

And to my above point if you read again the government themselves are advocating to hire Singaporeans (which will always be more expensive) and yet giving contracts to lowest bidders (possible only with large foreign staff). This is not about blaming the system its about pointing out a flawed system.

 

Plainly put if companies are receiving Singapore Government money (contracts/Subsidies/Tax rebates etc) then further steps need to be taken to ensure Singaporeans interest are looked after, simply assigning a score to number of Singaporeans hired (with payscale grading) to ensure a higher success rate when obtaining tender contracts. Where do you think the money for these government contracts come from? The coffers of Singaporeans yah.

 

You need to put aside your anger or bravado of overcoming what personal issues you had and see the big picture.

 

 

When I got retrenched late last year, I also angry and wanted to blame "the system". Hard to take when one is in 50s.

 

But anger clouds rational thinking, and career counselors also had good points to help mindset wake up:

 

Most white collar workers reach comfort zone and become risk-averse or never learn how to assess and take calculated risks. The pay regularly drops into one's bank account regardless of the outcome of decisions taken during work. More so for managers and older workers in deskbound admin roles.

 

There is little need to be on-the-toes. Miss a deadline for report, still get pay at end of the month. Most are doing paperwork and admin roles, few are craftsmen and professionals (who are required to achieve and deliver a certain level of high standard.)

 

Little by little there is no consequence to one's work actions or lack of action.

 

Then a decade has passed, and when the retrenchment happens, the older worker wonders why his skillset is outdated and there is no demand.

 

He wonders why the decades passed and he never turned his interests into valuable skillsets.

 

[Ct3833]

Thats every man's wishes ... ð

 

Pls include pretty and sexy ... ð

Ideal criteria, Pretty rich, sexy but stupid.

[Hoseyboh]

Some people want to retire also cannot retire...must neh neh tong...

Kudos to the PHV driver...

[boonhat_91]

somebody will say, only got himself to blame. never upgrade skillset etc etc never save never invest etc etc

 

Some people want to retire also cannot retire...must neh neh tong...
Kudos to the PHV driver...

[Angcheek]

Ideal criteria, Pretty rich, sexy but stupid.

 

and dye hair Blond ...... 

[Voodooman]

 

And to my above point if you read again the government themselves are advocating to hire Singaporeans (which will always be more expensive) and yet giving contracts to lowest bidders (possible only with large foreign staff). This is not about blaming the system its about pointing out a flawed system.

 

Plainly put if companies are receiving Singapore Government money (contracts/Subsidies/Tax rebates etc) then further steps need to be taken to ensure Singaporeans interest are looked after, simply assigning a score to number of Singaporeans hired (with payscale grading) to ensure a higher success rate when obtaining tender contracts. Where do you think the money for these government contracts come from? The coffers of Singaporeans yah.

 

You need to put aside your anger or bravado of overcoming what personal issues you had and see the big picture.

You know who he is, right? He will keep repeating himself in 101 permutations with no fresh points till you feel like you are talking to a wall.

 

Don't waste your time.

 

Don't feed the trolls.

[AlfaLove]

...

 

As someone rightfully mentioned Singaporeans will always be at the losing end, we are in a first one country and we have first world obligations. There are many third world country people who are half your age, twice as smart and willing to work three times as hard for half your pay (which will still buy a house back home). Government need to find a better way to get balance especially since they are operating locally deriving benefits.

 

Let's discuss your point rationally and from working experience:

 

If you are asking for private companies to accept only citizens despite some citizens being less smart, less hardworking, older and demanding more pay, how is that beneficial to the private company?

 

If you are a team leader or boss, but some politician force you to fill the office with only citizens who don't have the skillset, not willing to work harder, not as qualified, and demand double the market rate, what will you do?

 

Do you have the experience of trying to fill out a work team with only qualified citizens with the top rated skillsets?

 

Don't forget Singapore's older generation not as educated, and whether they have the right skillsets for 21st century, is a sensitive and embarrassing issue which few have the backbone to talk about.

[AlfaLove]

...

 

Secondly I'm no where near 50's but I have been posted overseas for long term assignments (1 - 3 years) in various south asian/european offices. In all honesty if someone claims to have worldly experience to me had damn well better been working overseas in various locations for least 6 months or more in said locations but that's my view.

 

...

 

Now don't get angry or slighted, but the other side of the coin is that you were taking away the ricebowl of some citizen in those countries.

 

You were sent for 3 years because you had the skillset and knowledge which no citizen had at that stage.

 

You were also younger than the workers there at the time, and you were paid much more than them.

 

Imagine what could have happened if some citizen/politician in those countries used the supremacist/jingoistic language on your company, or you, then?

[AlfaLove]

...

 

Thirdly the point mentioned here is people are treated unfairly in companies but perhaps not by the company itself, beyond pursuing cheaper faster better my companies senior staff are known to hire from their personal friends from the same country they hailed from, some school buddies etc, one guy even hired his bosses mistress. Anyway my HR put a stop to that by advocating Singaporeans first much to their dismay but they've been trying to get around it.

 

Companies are controlled by multiple humans with their self interest, your example is assuming everyone is acting in the companies interest and not their own which is not the case. And so long as humans act in their interest certain issues will arise.

 

...

 

Since this thread is about getting ready for retirement before 60, my point is that taking care of matters one can control is the best way forward.

 

Private company senior management do favours, call in favours, have their blue-eyed boys, practice some nepotism, etc. Since you say it is human nature, why demand that politicians create draconian laws?

 

Isn't the best way to discover one's own talents and enhance skillsets such that no one can take it away from you? If you are already among top in the industry, will you worry about such things?

 

If you are the best at what you do, won't you be able to command top salary? One is free to resign and take his craft elsewhere, right? Take it to competitor who pays more. Why torture oneself? Why not even consider setting up your own company in a field or sector which you are interesting in or enjoy the competition and challenge?

 

If you are not a major shareholder, don't even like the work, have other skillsets superior to your co-workers or your supervisor, why bother about human games in the office?

 

I think it's back to my point about few older workers actually bother to challenge themselves, discover their interests and talents, and get out of the comfort zone. Maybe it is all fear of the unknown and fear of failure.

 

(All this issues one realise only when get retrenched and career derailed)

[AlfaLove]

...

Plainly put if companies are receiving Singapore Government money (contracts/Subsidies/Tax rebates etc) then further steps need to be taken to ensure Singaporeans interest are looked after, simply assigning a score to number of Singaporeans hired (with payscale grading) to ensure a higher success rate when obtaining tender contracts. Where do you think the money for these government contracts come from? The coffers of Singaporeans yah.

 

...

 

 

Again, before you answer or get angry or triggered, think rationally:

 

If every private sector company has to hire only citizens, that is assuming ALL working adult citizens are top in skillsets, productivity, willingness to do their utmost, etc.

 

This also means EVERY private sector company will compete to pay mostest to citizen just so they can have highest favourable score to be at top consideration during govt tenders.

 

But you know that talents are distributed unequally. And each worker will not admit his true abilities. Especially the lower quality ones. Now add to this the pay inflation due to the competition for the top citizen talents.

 

If you were boss or business owner, what would you do?

 

Have you had experience filling out a work team with only top skilled citizens? Is it even possible? And are you guaranteed best performance and best outcomes to beat the competition?

[AlfaLove]

You know who he is, right? He will keep repeating himself in 101 permutations with no fresh points till you feel like you are talking to a wall.

 

Don't waste your time.

 

Don't feed the trolls.

 

If you are a citizen who has the experience of achieving successful retirement before 60, why be so coy with your knowledge?

 

Unless the reality is that social media, especially mcf, is filled with BS Kings who are all talk and no action and little real-world experience.

 

I have been retrenched and I am nearing 55. I do have a habit to save and invest learned the hard way on the road towards an better early retirement before 60. Let's share learnings and knowledge, if you have the experience and walk the talk.

[Angcheek]

You know who he is, right? He will keep repeating himself in 101 permutations with no fresh points till you feel like you are talking to a wall.

 

Don't waste your time.

 

Don't feed the trolls.

Maybe he one of the ministers ...

[Ct3833]

Maybe he one of the ministers ...

[RogerNg_185295]

Are you one of the KINGS as well?

If you are a citizen who has the experience of achieving successful retirement before 60, why be so coy with your knowledge?

 

Unless the reality is that social media, especially mcf, is filled with BS Kings who are all talk and no action and little real-world experience.

 

I have been retrenched and I am nearing 55. I do have a habit to save and invest learned the hard way on the road towards an better early retirement before 60. Let's share learnings and knowledge, if you have the experience and walk the talk.

 

[boonhat_91]

Bro can share your knowledge? What stocks to buy so I can retire before 60?

 

If you are a citizen who has the experience of achieving successful retirement before 60, why be so coy with your knowledge?

 

Unless the reality is that social media, especially mcf, is filled with BS Kings who are all talk and no action and little real-world experience.

 

I have been retrenched and I am nearing 55. I do have a habit to save and invest learned the hard way on the road towards an better early retirement before 60. Let's share learnings and knowledge, if you have the experience and walk the talk.