Lay Off

[Arcachon]

He worked for a company for 24 years old and at the age of 54, because the company got relocated, he was laid off and left on his own. After 24 yrs of contribution to the company, he realized he left with nothing and he then realized he shouldn't waste any more time especially for him, how many "10 years" will he have? In Singapore, it's impossible to survive without income after u have lost a job.

[indomie]

Hopefully he owns a couple of rental properties.

[teddybear]

With GST increasing every few years, even more jialat! No income still need to pay TAX !!!!!!!!!!!!!!!!!!!!!

With property tax increasing every few years and intention to introduce WEALTH tax to every TOM, DICK, and HARRY, as long as you have a property (never mind that it is really "owned" by banks via mortgage than YOU!) and you have MONEY in the banks, even more jialat!!!! No income still need to pay all kind of TAXes !!!!!!!!!!!!!!!!!!!!!

Nowadays, many of these people got NO empathy............
They only care about lining their own pockets, milking the general people under them, and you got no MONEY is your own problem.......
Remember Wee Shu Min type and what sort of system produces WSM type????????????? Many of the older are just able to disguise very well.............. Actually, in comparison we cannot say bad about WSM, at least she is more honest and upfront and don't try to disguise and be a hypocrite (those people are even more dangerous)..................... like MINORITY here HA HA HA !!!!!!!!!!!!!!!

He worked for a company for 24 years old and at the age of 54, because the company got relocated, he was laid off and left on his own. After 24 yrs of contribution to the company, he realized he left with nothing and he then realized he shouldn't waste any more time especially for him, how many "10 years" will he have? In Singapore, it's impossible to survive without income after u have lost a job.

[azeoprop]

Retire in Chiangmai and live happily ever after.

[Kelonguni]

He worked for a company for 24 years old and at the age of 54, because the company got relocated, he was laid off and left on his own. After 24 yrs of contribution to the company, he realized he left with nothing and he then realized he shouldn't waste any more time especially for him, how many "10 years" will he have? In Singapore, it's impossible to survive without income after u have lost a job.

So what did he do?

[Arcachon]

Facebook posting don't give much detail trying to google him.

[kellogs]

no head no tail ... who is this person?

[Simi]

no head no tail ... who is this person?

Bro

same person ?

sorry, deleted
not nice to intrude into his privacy

[Jem]

So the pic of this Simon Ong at age 53 was before he got laid off?
If so he certainly looks happy and he looks mor fit and radiant at age 53 than he was at 34!

Once u hit a certain age, you need to buffer for the fact that you can be laid off and you will not be able to find another job that matches what you were paid prior to getting laid off.
Either you grow enough wealth to be able to take an alternative to just retire or you should have made adjustments to your lifestyle and liabilities so that you will not run into debts by taking up another much lesser paying job.

[Arcachon]

http://sg.linkedin.com/pub/simon-ong/52/224/834

[Arcachon]

[DC33_2008]

One has to have options in life. You can call it a day anytime in your job if it is stressful or do not like your boss or politics in office even though it is a high paying job. Alternate passive income equivalent to last drawn salary is very important.

So the pic of this Simon Ong at age 53 was before he got laid off?
If so he certainly looks happy and he looks mor fit and radiant at age 53 than he was at 34!

Once u hit a certain age, you need to buffer for the fact that you can be laid off and you will not be able to find another job that matches what you were paid prior to getting laid off.
Either you grow enough wealth to be able to take an alternative to just retire or you should have made adjustments to your lifestyle and liabilities so that you will not run into debts by taking up another much lesser paying job.

[Arcachon]

I was looking for this type of income after I have work 10 years, it took me another 10 years to find it.

If you never do, you never know.

[Jem]

Alternative passive income matching my salary is gonna be highly unachievable for me. Half should be more realistic goal.

[princess_morbucks]

According to his linkin profile he was
Senior Industrial Engineer
Seagate Technology

Public Company; 10,001+ employees; STX; Computer Hardware industry

September 1987 – December 2010 (23 years 4 months)

[Arcachon]

and then.

[kellogs]

One has to have options in life. You can call it a day anytime in your job if it is stressful or do not like your boss or politics in office even though it is a high paying job. Alternate passive income equivalent to last drawn salary is very important.

I agreed with bro DC33_2008 ... I am planning my retirement as well and i think my end game would be collecting rent 70% and with 30% dabble in stock market/invest in small businesses. Based on my current lifestyle ... it is going to cost a lot of money to retire so hopefully when times come - I would adjust my lifestyle accordingly as well.

One must always prepare for the worse case scenario. The biggest nightmare is to rely on your company ... when the time comes ... HR would do what they are supposed to do ...

Plan early!

[Jem]

Women typically live longer than men. I'm seeing typically 15 to 20 years more and that is no joke. Can't make up for time lost so going forward have to plan even harder~

[DC33_2008]

It is always better to have control than being controlled.

I agreed with bro DC33_2008 ... I am planning my retirement as well and i think my end game would be collecting rent 70% and with 30% dabble in stock market/invest in small businesses. Based on my current lifestyle ... it is going to cost a lot of money to retire so hopefully when times come - I would adjust my lifestyle accordingly as well.

One must always prepare for the worse case scenario. The biggest nightmare is to rely on your company ... when the time comes ... HR would do what they are supposed to do ...

Plan early!

[Arcachon]

If IBM got problem guess everyone else is the same.

http://www.businessweek.com/articles...t-seemed#r=rss

[Jem]

Based on my current lifestyle ... it is going to cost a lot of money to retire so hopefully when times come - I would adjust my lifestyle accordingly as well.

You can't adjust your lifestyle in a short period of time. It takes a long time to adjust especially if you are never thrifty to begin with. I am starting to adjust little by little.

[Jem]

If IBM got problem guess everyone else is the same.

http://www.businessweek.com/articles...t-seemed#r=rss

IBM hasn't been doing well for a long time. Many American tech giants and MNCs are not what they used to be. The Forbes list of largest public companies has 5 Chinese companies in the top 10 spots with 1st 3 spots all going to Chinese companies.

Like how the Chinese saying goes 风水轮流转. Change is the only constant these days. Embrace change, stay relevant, stay mobile and be prepared.

[minority]

With GST increasing every few years, even more jialat! No income still need to pay TAX !!!!!!!!!!!!!!!!!!!!!

With property tax increasing every few years and intention to introduce WEALTH tax to every TOM, DICK, and HARRY, as long as you have a property (never mind that it is really "owned" by banks via mortgage than YOU!) and you have MONEY in the banks, even more jialat!!!! No income still need to pay all kind of TAXes !!!!!!!!!!!!!!!!!!!!!

Nowadays, many of these people got NO empathy............
They only care about lining their own pockets, milking the general people under them, and you got no MONEY is your own problem.......
Remember Wee Shu Min type and what sort of system produces WSM type????????????? Many of the older are just able to disguise very well.............. Actually, in comparison we cannot say bad about WSM, at least she is more honest and upfront and don't try to disguise and be a hypocrite (those people are even more dangerous)..................... like MINORITY here HA HA HA !!!!!!!!!!!!!!!

What COCK you talking? every corner u will have to find some lame excuse to talk about GST. Don't want to pay singapore GST then leave singapore lor. Why are u still here? Also GST have rebate. So I am still waiting for ur list? U run ard the bush. hide here hide there twist here twist there like eel. SHOW ME THE BLOODLY LIST u XENOPHIBIC RACIST Liar.

[minority]

He worked for a company for 24 years old and at the age of 54, because the company got relocated, he was laid off and left on his own. After 24 yrs of contribution to the company, he realized he left with nothing and he then realized he shouldn't waste any more time especially for him, how many "10 years" will he have? In Singapore, it's impossible to survive without income after u have lost a job.

Well in the 24 yrs he worked he got paid right? And I hope he saved n invested and not squared all the $$ away. Industry comes n it goes its a cycle. Want guarantee? do your own business be your own boss. Coz in the end time will catch up with the folks in the technology line. You either move with time and progress or u have to move a side thats how the technology industry works.

he is in Seagate. the writing are on the walls. its a matter of time. he have 24yrs and if he too time to plan he would have a transition plan. same for the manufacturing jobs. If ones never move n do something else those are gone to. Coz the world change. in 1995 the Competition is only Penang high tech park. Now? its China. even taiwan cannot compete don't even think about singapore.

So jobs will go for sure question is are we able to reinvent ourself or like the stupid TEDDY every day KPKB blame the sky blame the government blame everyone else but never look at him self in his pee.

[teddybear]

minority, you COCK BULLSHITER and LIAR still around?

Thought you have disappeared because Keep saying $308 per month is more than sufficient for basic necessities for a person to survive in Singapore and yet can't provide the list?

I am asking a very valid factual question:
"Why a person with NO INCOME need to pay TAX for basic necessities to survive in Singapore just so that they can cut the tax of top income earners (like themselves) and companies' taxes?"

What COCK you talking? every corner u will have to find some lame excuse to talk about GST. Don't want to pay singapore GST then leave singapore lor. Why are u still here? Also GST have rebate. So I am still waiting for ur list? U run ard the bush. hide here hide there twist here twist there like eel. SHOW ME THE BLOODLY LIST u XENOPHIBIC RACIST Liar.

With GST increasing every few years, even more jialat! No income still need to pay TAX !!!!!!!!!!!!!!!!!!!!!

With property tax increasing every few years and intention to introduce WEALTH tax to every TOM, DICK, and HARRY, as long as you have a property (never mind that it is really "owned" by banks via mortgage than YOU!) and you have MONEY in the banks, even more jialat!!!! No income still need to pay all kind of TAXes !!!!!!!!!!!!!!!!!!!!!

Nowadays, many of these people got NO empathy............
They only care about lining their own pockets, milking the general people under them, and you got no MONEY is your own problem.......
Remember Wee Shu Min type and what sort of system produces WSM type????????????? Many of the older are just able to disguise very well.............. Actually, in comparison we cannot say bad about WSM, at least she is more honest and upfront and don't try to disguise and be a hypocrite (those people are even more dangerous)..................... like MINORITY here HA HA HA !!!!!!!!!!!!!!!

[minority]

minority, you COCK BULLSHITER and LIAR still around?

Thought you have disappeared because Keep saying $308 per month is more than sufficient for basic necessities for a person to survive in Singapore and yet can't provide the list?

I am asking a very valid factual question:
"Why a person with NO INCOME need to pay TAX for basic necessities to survive in Singapore just so that they can cut the tax of top income earners (like themselves) and companies' taxes?"

Bloody Liar!!!!!

READ MY LIPS IF U CANNOT UNDER STAND ENGLISH. BASIC ESSENTIALS I bold it for you incase u are blind or something.

And yes GST-Cash rebate U SAVE and MEDISAVE are all there to offset GST!!!!!!
http://www.gstvoucher.gov.sg/faqs.html

And for people like you KPKB go buy things from local shops that have less then $1M turn over U DONT PAY GST FOR THAT DUMB ASS!! !LIAR!!!

U want to buy swanky car. Go eat restaurant go shop at TAKA!!! PLS DONT BE CHEAP SKATE PAY THE GST!!!!!!!

[teddybear]

As we already know, all the GST vouchers, U-Save etc all still much less than the GST paid by the people for basic necessities! THIS IS A FACT, AN UNDENIABLE FACT BASED ON WHAT WE KNOW NOW!
If you disagree, please provide the facts and figures to back up your claim!

Don't forget, your Ministers and Prime Minister said: S$1200 per month is still NOT enough for basic necessities for a single individual in Singapore (especially then they reach 65 years old now!). . That is why CPF Min Sum still needs to be increased! And it will still need to be increased again in future when inflation rises!

Bloody Liar!!!!!

READ MY LIPS IF U CANNOT UNDER STAND ENGLISH. BASIC ESSENTIALS I bold it for you incase u are blind or something.

And yes GST-Cash rebate U SAVE and MEDISAVE are all there to offset GST!!!!!!
http://www.gstvoucher.gov.sg/faqs.html

And for people like you KPKB go buy things from local shops that have less then $1M turn over U DONT PAY GST FOR THAT DUMB ASS!! !LIAR!!!

U want to buy swanky car. Go eat restaurant go shop at TAKA!!! PLS DONT BE CHEAP SKATE PAY THE GST!!!!!!!

[Londonproperty123]

Back to the original topic, I think such incidences of older people getting laid off may become more and more common. Must be prepared for more ups and downs. The world economy is very volatile, no reason why Singapore won't be volatile either.

[heehee]

How old is your old?

Depending on your sector, many at 50 years old or more when get retrench will never get back a job commensurate with their skills & hence their original pay.

Is this any wonder why retirement age gets raised but yet mortgage tenure gets mandatory cut?

Back to the original topic, I think such incidences of older people getting laid off may become more and more common. Must be prepared for more ups and downs. The world economy is very volatile, no reason why Singapore won't be volatile either.