“Financial genius” Leong Sze Hian, as a heart for these people , please ! ( TOC’ article : What’s it like to own a house with a meagre $850 a month?

(TOC : What’s it like to own a house with a meagre $850 a month?)

Comments :

  • Leong says: “As the sole breadwinner who may be unlikely to have any savings as a reserve to fall back on, for such lower-income workers, the probability of job loss, pay cut, sickness or accident, may be relatively higher than others.Therefore, the likelihood of him defaulting on his mortgage over the next 30 years may be high.”

But the truth is that if the flatowner loses his job, and cannot pay his mortgage, he can (a) appeal for help from HDB or (b) sell his flat at a profit.


  • Leong says: In any case, utilising almost all his CPF, may render him broke without any CPF savings for his retirement.

But the truth is that, again, at that stage, the flat owner can choose to sell his flat at a profit. He will have more money than if he had not bought a flat.


  • Financial genius Leong says: Perhaps a better solution to his housing needs may be to allow his CPF to be used to pay for his $44 HDB monthly rental.

But wait! What if he then loses his job, or retires? All his CPF money would have been used for rental. He has no flat to fall back on.

This is the sort of stupid argument that TOC puts forward. It’s very harmful because it misleads people. Imagine telling people that they should use their life savings to rent property? How is that better than using their life savings to invest in a home?

Worse still, TOC accepts that people can lose their jobs or retire. In that case, if they had used up their CPF savings for rental, then those people would have nothing to fall back on. Thank goodness, the govt has helped people to manage their financial planning by (a) forcing savings through CPF and (b) encouraging home ownership by making affordable flats. Then, when people retire, they at least have something of value to retire on.


  • yes, the finance “guru” leong tze hian “tears the “propaganda” apart.

  • I don’t understand why people cannot accept low wage earners owning a flat while they splash the moolah on the new ipad & stuff.If the govt allows CPF to pay for rental housing like he suggests, then these lower-income workers & their families will resign themselves to their lot in life & live in perpetual poverty, and then what will these people say?


  • Plus the cheek of this “guru” to suggest that the rest of the population are less immune to job loss, pay cut, sickness & accident!
    Hatred has surely clouded his judgment.


  • Mr Leong seems to have forgotten this man has been working and would have consistently contributed $179 in his OA per month, and would have earned the 2.5% year on year. if he had started work at age of 20, he would have a sizeable amount. Not to forget, his wife may have worked before they got married. This is the reason why they would have a household cpf of 40k. The point here he is helping himself by continuing to work. Mr Leong made a point about him losing his job of $850, please, all he needs to do is go pack up, and walk into any restaurants. they are always hiring….:)

    And the next point is , please, what we , as a society should be doing , is to encourage this group of people to upgrade themselves, not hope they forever stay this way of earning $850. The govt provides grants for them to upgrade hemselves.

    Lastly, by encouraging this group of people, to go for rental flats, Mr Leong is encouraging this group of people not to get out of the poverty cycle. Have a heart for these people! —PLease.


One response to this post.

  1. […] Source : https://singaporeanssay.wordpress.com/2012/03/10/financial-genius-leong-sze-hian-has-a-heart-for-thes… […]


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