Bishan HDB executive maisonette changes hands for record $980,000

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And these were my treats if I score >90 marks for my tests.

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Anything below 70 marks, this would be my treat instead!!

(Sorry guys, I know I'm kinda out of topic on this. Just feeling nostaglia from all the latest posting that's all. )

+1 to all your below points.

I used to think I MUST travel the world on holidays when I retire. But nowadays I also think many other matters in life like spending time with loved ones just visiting them, taking them out for an unhurried meal or to visit the park for a stroll, can be similarly or more important in life. Staying in fancy hotels while on holiday, shopping etc is nice, but it comes at such high a cost it makes me wonder if its worth working one's life away.

(11-09-2012, 11:46 AM)CityFarmer Wrote:

(11-09-2012, 10:12 AM)Musicwhiz Wrote: I won't say I really hanker for a lot more nowadays - in fact I will still be happy to go for "free" walks to Botanic Gardens, Treetop Walk and Labrador Park (except for mosquitoes!). I take the bus or MRT and have no desire to get stuck in traffic jams. I dare say I've even scaled down my expectations as I've grown older - being with family and loved ones is more important to me than having so many material possessions.

Been grown older, with more life experience, we have been more enlightened to things make us happier.

An evening walk after dinner in park, with loved ones chatting on past wonderful experience, is a much happier and lasting occasion than driving a Ferrari cruising along orchard road with newly known sexy girl-friend.

A family gathering at home, to recap lose time and re-bond the relationship is a much happier and lasting occasion than having poshy parties a 5-stars hotel, but with people chatting with topic no ones interested and will remember

From my perspective, it all depends on the individual's main goal in life.

Is attaining riches for personal pride and glory?

Or is it so that you can live a "comfortable" life with no worries? Then again, what is comfortable to you, may not be comfortable to others.

In my own personal perspective, the youth of Singapore are buying luxury products to achieve a certain level of status.

I am not saying that status is the root of our problem. On the contrary, I think status is important to everyone. It makes us feel that we are special, to feel that we are unique among the billions of other in this world. However, I will have to acknowledge that the companies who market these luxury products, do a damn good job in marketing.

When we look into companies that sell such a product, they are not only selling a product, they are selling a lifestyle. That is how they market their products. Companies are subtly telling prospective customers that when they buy a Nike, they will be as cool as Tiger Woods. Companies even acknowledge this.

That being said and as bad as all this sounds, being a value investor, I will want to look for such companies. As I do know that companies who use these tactics to market their products, are profitable companies.

Not looking much at statistics, anyone wonder how the society and wealth may change as the 55% age group 35-65 pass on and the 15% age group 21-35 inherits their wealth and property? Remember all the HDB flats are 99 years would have at least 50 years to go on.

My observation is not so much on the youth but the middle age or baby boomers group. If you walk around Orchard Road or visit restaurants, you notice that the same people who are 10 years ago slogging, wearing just giordano or U2 shirts and shorts now are wearing levis jeans, ralph lauren polo t-shirt and many of them wearing a rolex (fake or genuine?). These baby boomers are now more frequent in restaurants like crystal jade, imperial treasure, hotel buffets etc than the hawker food in the past. I know of a case where my friend who wasn't very well off 10 years ago as parents do not have high flying jobs or save prudently; suddenly can afford to stay in private property as the children are now getting decent income >5k monthly to support.

What I am trying to say is, there is a decent amount of wealth created as some of the baby boomers get inherited from their parents the property or their asset (even if the parents have not passed away by they staying together or in old folks home). This issue will swell up the most as the replacement rate of baby boomers decline drastically. In long term, property prices in Singapore will bound shoot up high if we maintain our economic competitiveness and demographics.

(12-09-2012, 12:32 AM)mrEngineer Wrote: Not looking much at statistics, anyone wonder how the society and wealth may change as the 55% age group 35-65 pass on and the 15% age group 21-35 inherits their wealth and property? Remember all the HDB flats are 99 years would have at least 50 years to go on.

My observation is not so much on the youth but the middle age or baby boomers group. If you walk around Orchard Road or visit restaurants, you notice that the same people who are 10 years ago slogging, wearing just giordano or U2 shirts and shorts now are wearing levis jeans, ralph lauren polo t-shirt and many of them wearing a rolex (fake or genuine?). These baby boomers are now more frequent in restaurants like crystal jade, imperial treasure, hotel buffets etc than the hawker food in the past. I know of a case where my friend who wasn't very well off 10 years ago as parents do not have high flying jobs or save prudently; suddenly can afford to stay in private property as the children are now getting decent income >5k monthly to support.

What I am trying to say is, there is a decent amount of wealth created as some of the baby boomers get inherited from their parents the property or their asset (even if the parents have not passed away by they staying together or in old folks home). This issue will swell up the most as the replacement rate of baby boomers decline drastically. In long term, property prices in Singapore will bound shoot up high if we maintain our economic competitiveness and demographics.

Estate duty serves as tool to re-distribute wealth after an individual death. The estate duty is removed after Feb 2008, which make Singapore a rich man paradise. It also make accumulation of wealth over generations easier

Singapore inherited estate duty from the British. The rates originally were high - and until 1984, the top rate was 60 per cent.

The rates before Feb 2008 are much lower - five per cent for the first $12 million of dutiable assets and 10 per cent thereafter. After Feb 2008, it is totally removed.

(11-09-2012, 12:23 PM)wee Wrote: +1 to all your below points.

I used to think I MUST travel the world on holidays when I retire. But nowadays I also think many other matters in life like spending time with loved ones just visiting them, taking them out for an unhurried meal or to visit the park for a stroll, can be similarly or more important in life. Staying in fancy hotels while on holiday, shopping etc is nice, but it comes at such high a cost it makes me wonder if its worth working one's life away.

(11-09-2012, 11:46 AM)CityFarmer Wrote:

(11-09-2012, 10:12 AM)Musicwhiz Wrote: I won't say I really hanker for a lot more nowadays - in fact I will still be happy to go for "free" walks to Botanic Gardens, Treetop Walk and Labrador Park (except for mosquitoes!). I take the bus or MRT and have no desire to get stuck in traffic jams. I dare say I've even scaled down my expectations as I've grown older - being with family and loved ones is more important to me than having so many material possessions.

Been grown older, with more life experience, we have been more enlightened to things make us happier.

An evening walk after dinner in park, with loved ones chatting on past wonderful experience, is a much happier and lasting occasion than driving a Ferrari cruising along orchard road with newly known sexy girl-friend.

A family gathering at home, to recap lose time and re-bond the relationship is a much happier and lasting occasion than having poshy parties a 5-stars hotel, but with people chatting with topic no ones interested and will remember

I couldn't agree more. Spend time and cherish your love ones. This is real value investment, isn't it? True multi-bagger that brings you real happiness.

Re estate tax, the conspiracy theorist in me says we might see a return in a few years (say after lky passes on). More importantly it is one of those cheap political points that the incumbent gov might make to appease the masses. Not that i think its good policy given the narrow tax base, and the fact we might drive away rich foreigners who might actually pay some tax.

As for happiness, agree sometimes the best moments are simple pleasures like taking the kids for a run in the park and some cheapo green soleros to cool down with! But i notice the young seem to equate spending with happiness. Hmm.