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over 40s... if you were retrenched tomorrow...


Karoon
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On 10/23/2019 at 11:20 AM, Jusnel said:

 

Actually there are alot of jobs in the market, i tell you.  Its only whether you are interested to do or not 

I talk to many company HRs and biz owners.  The common complaint i hear is they CANNOT find local Singaporeans in the job applications.  Why?  

Here we all complain, retrench, no job to do blah blah.  On the other hand, many HR is saying they cannot find local Singaporean to do the job. 

Someone not telling the truth right?  

I also post job listing and waiting to receive CVs.  And i also got the same problem.  No local singaporean application.  What's wrong with our people? 

And these job vacanies are not cleaners, table wipers, construction workers, rubbish truck drivers.  These are v comfortable office jobs or sales jobs. 

 

Pay low.

Office or sales job doesn't mean the pay is decent. I can understand the company's perspective where they want to hire the cheapest labor that gets the job done.

But we cannot allow that unless the playing field is leveled. For as long as singaporeans pay a heftier price (such as NS, reservist, etc), then we need to have priority over foreigners.

Edited by Kusje
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On 10/25/2019 at 4:22 PM, Wind30 said:


I never say retire at 40s, just finish preparing so u are not in a bad position in your 40s

I can tell u my GEP cohort most of them are probably not so scared of retrenchment.

you don’t need to make millions... all u need is to finish paying of your place. A dual income , decent savings. 
basically, u can still maintain decent living even if one is retrenched. 

Two out of three ain't too bad, for me [laugh]

Basically i find it hard to accumulate decent amount of savings when there are a number of kids still schooling. Kids' expenditures are no joke in SG ...

Now if I had the single life, or married without kids, and I don't get a car - yes, then can "fire" my employer any time now.

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11 hours ago, Windwaver said:

Agree, 40 in Singapore is 'old' already. Kind of odd when HDB still calculate loan till 60s :nosepick: 

40 is not old but when one is around late 40s, most of the large corporations would view them as being too costly to be around, end up they become  easy targets for retrenchment.

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13 hours ago, Windwaver said:

Agree, 40 in Singapore is 'old' already. Kind of odd when HDB still calculate loan till 60s :nosepick: 

40 old?? no way lah bro.... in the oooooold dayz 40 was considered middle age; Now its trending at 52.... i think in today's context "old" means at least above 62 and gonna go up some more..... work literally into digging grave and walk into it... when average death age rate is 83 now , wont be surprised loans will inch up some more to 62/65      

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On 10/26/2019 at 11:49 AM, Chucky2007 said:

Nothing permanent big tickets like loans and Insurance to repay, monthly got minimum 10k come in regardless of market conditions, without having to work on fixed schedule, got something to do to occupy time, and the income is tax free..

 

’m happy already

Sure not, 10k income n not taxable? Pls recommend thanks 😊

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4 hours ago, Albeniz said:

If over 40s and gets retrenched, might be better to break free from rat race and start a small business.

40++ years old should come with a sufficient pool of experience.

Should gather a few like-minded colleagues to come together to start a small business.

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It is easy to say 'find another job' , go for re-training, go into biz, etc. Not everyone has the luxury to do that when you are struggling to put food on the table and now ended without income. With that little saving that will see you through till your next job and you squander that in a venture you have never been, the whole family will suffer. Ask those who have experienced such a situation the stress they have to go through. 

Having said that, it is also important to move forward  from something you cannot undone. Even having to get a pay cut of 50%. You just need to rebuild what was lost. Now, you need to protect this lost and try to ensure it is not repeated. The spilled milk will never get back into the cup. In today world, loyalty don't pay. 

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Just a quick opinion poll. 

If you are close to 50 years old, have worked for more than 25 years and have enough savings, would you hang on to a job which you dislike?  Or would you take a risk to start your own small business?

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16 minutes ago, Albeniz said:

Just a quick opinion poll. 

If you are close to 50 years old, have worked for more than 25 years and have enough savings, would you hang on to a job which you dislike?  Or would you take a risk to start your own small business?

Some line of work is not possible to start business leh... unless totally change. 

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4 hours ago, Sosaria said:

Two out of three ain't too bad, for me [laugh]

Basically i find it hard to accumulate decent amount of savings when there are a number of kids still schooling. Kids' expenditures are no joke in SG ...

Now if I had the single life, or married without kids, and I don't get a car - yes, then can "fire" my employer any time now.

Care to share some of your expenditures on schooling kids?

I grew up from a simple family which didn’t quite spend too much on the children, but we still turn out to be alright.

We received a lot of hand me downs from cousins and bigger siblings.

I am doing the same for my children.

However, I do agree that health expenses might be a concern, so I try to get adequate insurance coverage.

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39 minutes ago, Albeniz said:

Just a quick opinion poll. 

If you are close to 50 years old, have worked for more than 25 years and have enough savings, would you hang on to a job which you dislike?  Or would you take a risk to start your own small business?

Enough is very difficult to define. For me, it means food will be the table regardless if the biz venture succeeds or not. The venture is just extra money to try new hobby.

Then, i may just use that extra to enjoy life. Why work beyond 50. Haha

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1 hour ago, Albeniz said:

40++ years old should come with a sufficient pool of experience.

Should gather a few like-minded colleagues to come together to start a small business.

Later, money will mess up everything..

 

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5 hours ago, Albeniz said:

40++ years old should come with a sufficient pool of experience.

Should gather a few like-minded colleagues to come together to start a small business.

Not easy bro, different mindset and expectations, and probably agenda. 2-3 partners already not easy to manage differences. Then there will always be imbalances between the effort put in by various partners. The one handling the operations likely to feel he should be entitled to more share due to more effort, but the one spearheading the biz will feel likewise, and then there is one quietly hide but still getting a share without contributing much or at all etc..

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4 hours ago, Freeder said:

Later, money will mess up everything..

 

Yea, later see earnings come in wanna take loan using company name buy car buy house..

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