It is hard being poor people in a rich country.
The poor people in a poor country can take comfort in that everyone is poor. Nobody has much more than his neighbor
But for poor people in a rich country, it is very hard to be contented.
Everyone assumes that you are having a good time, just because you happen to live in a rich country, where everything is in abundant.
This is the case in Singapore.
Everyone knows that Singapore is one of the richest countries in the world. If you based on GDP or the sovereign fund of the government, you can seehow rich the country is.
The problem is that the medium income is very low. The medium income is about S$2,700 per month or less than $2,500 per month.
The government is rich, but that does not mean the people are rich.
The income tax, the property tax, the road tax, the goods and service tax and all other taxes eat into the disposable income of the population.
The lease for public housing and many private properties are just for 99 years.
While you have a house to leave behind for your children, it is not enough to pass on to your grandchildren. The lease will end before that.
Poor people in a rich country find it hard to tolerate that things are in abundance, yet out of reach for them.
They can see all the wonderful things they can buy. They can see the tour agencies touting all the nice places they can go.
The only sad thing is that they do not have the means to enjoy the luxuries.
When they are at work, they face
They do not have real increment for many years, and they do not foresee a future where they can retire comfortably.
Poor people in a rich country are the most pitiful of all. Many people are not willing to help them because they do not look as hunger stricken as the poor people in Africa.
Poor people in a rich country witness the rich poor gap gets wider and wider, until it is one of the widest in the whole world. They are powerless to do anything, except to work very long hours just to pay for the mortgage and electricity.
The only consolation is that the government is trying to help through various schemes. Even then, it is hard for poor people in a rich country to feel financially secure. The future looks bleak.
Scheng1 is a passionate blogger from Singapore. Rich in every sense reveals my deep desire in enjoying life, and be rich in every possible ways. Personal Finance is about money, from making money to investing money. Retirement in Asia contains resources about retirement planning.