SINGAPORE: ‘Are you better or worse off than your parents were at your age?’ This was the thought-provoking question a man recently posed on social media after realising that many who grew up in the 70s, 80s, and 90s—now the parents of today’s working adults—had it much easier financially compared to their kids.
Sharing his own experience, the man explained that when his parents were his age (in their 30s), they had already upgraded from an “HDB BTO to a landed terrace house”. On top of that, they each owned a car. His father drove a BMW while his mother had a Toyota.
He also said that their financial success wasn’t due to exceptionally high-paying jobs either; his father was an engineer, and his mother was a secretary. Yet, they still managed to raise a kid and even retire before the age of 60. He added that this kind of achievement “was pretty common among professionals in 90s”.
In contrast, the man said that, at his age, he’s only managed to “travel a lot” and purchase a four-room HDB flat. He also shared that he “has zero hope of ever buying a car or a non-shoebox condo unless he strikes TOTO.”.
“I’m unlikely to retire anytime before 60. And my wife and I are already both drawing comfortably above-median salary,” he said.
“At my age, my parents could afford a 5-room flat while providing for 3 children.”
Many Singaporean Redditors jumped in on the discussion, saying that they also felt “worse off than their parents”.
One Redditor commented, “Worse off definitely, I’m getting paid more than my parents when they’re my age, but I can’t afford a car or a home. Future sure is bleak.”
Another wrote, “At my age, my parents could afford a 5-room flat while providing for 3 children to live comfortable lives on a single income. Now? Barely can afford to buy a house to even start with on dual income.”
A third shared, “Worse off. My parents at my current age had a condo and a BMW. After the AFC in 1997, they downgraded but they didn’t have uni degrees and could just grind their way to what they had. I’d be lucky if I can afford a resale close to them at 35.”
Still, there were others who felt that they were better off than their parents. One said, “I am much better off. My parents at my age were struggling to pay off bills and put food on the table. Our water and electricity always got cut off. Now I have a job that’s pays not super high but comfortable enough for me to own a 5-room flat with my husband in a nice, clean and quiet area.”
Another shared, “Emotionally I feel better because I’m much more aware of my own feelings, things that affect me, have the option to say No, pay less attention to what relatives may say – things my parents never had. I walked out of a bad marriage after 6 years, my mum tolerated for 30 years only for my dad to cheat on her.
“Financially – I don’t have to worry about bills with my salary. I don’t live mouth to mouth like my mum had to. Then again I choose not to have kids.”
In other news, a Singaporean worker shared on social media that her colleague oddly prides himself on never taking a medical leave (MC)—despite coming to work visibly ill.
“He would brag to me about not having ever taken a single sick day,” she shared on the r/askSingapore forum. “But he would come in to work clearly sick. Once, he told me he had a fever and chills, blowing his nose non-stop, and wearing a thick jacket on a warm day.”
Read more: My colleague boasts about never taking MC and comes to work sick
Featured image by freepik (for illustration purposes only)