Friday, January 17, 2014

The world's richest city

This post is titled the world's richest city. The city is actually Singapore. In the following video, you will see how the rich have benefited from the prosperous economy of Singapore and in contrast, how the poor are struggling in life.

A yacht that cost $5.2 million dollars?
A prime property called the sail in the heart of CBD?
A middle income worker have to pay housing loans monthly up to the age of 60 plus?
A housing estate where 6 in 10 people are unemployed?
A poor family surviving on $600 a month?

This is the reality of life in Singapore. Watch the video to find out more:


  1. Hi SGYI

    Great post.

    I enjoyed the clip.

    I dont want to sound bad but singapore is a place where everyone should be aiming to be to live and grow their kids etc. Regarding cost of living, it is actually pretty ok with exception to the housing which is damn super expensive. But one can get by with the daily commute transportation and basic food.

    1. Hi B,

      In general, Singapore is a good place to live as long as you have the money. That is why financial planning is ever so more important in our current generation.

      If not, one will have to work till 60 plus estimated. Reason is most people will still be paying housing loans of $1000+ until the age of 60 assuming you bought a house at age 30 with a 30 year loan mortgage.

  2. The rich poor gap is widening yes, but its happening all around the world. Largely due to the western governments and their unlimited QE. Look at the US, rich poor divide has sharpened drastically these last few years. We can do better, yes, but we re not that bad. Look around around region, indonesia, malaysia, phillipines etc thats what i call a big divide. The poor are living beside the flthy canals and drinking, bathing from it

    1. Hi,

      Yes, we're not that bad. At least the poor have food to eat and a shelter over their heads.

      In my opinion, the rich are actually not that rich. Its all due to the cheap loans we have now. Once the cheap loans are gone, it'll all be gone for them.