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Best fixed deposit rates in Singapore for June 2024

Mary Alavanza
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Best fixed deposit rates in Singapore for June 2024

SINGAPORE: With a fixed deposit in a bank account, you don’t need much money to start.

Many banks offer fixed deposits starting from S$500. According to MoneySmart, here are the best-fixed deposit rates in Singapore for June 2024.

June 2024 Highest Fixed Deposit Rates

Looking for the highest fixed deposit rates? Check these out!

  •  Syfe Cash+ Guaranteed
    • Interest Rate: 3.75% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: No minimum
  •  StashAway Simple Guaranteed
    • Interest Rate: 3.70% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • State Bank of India
    • Interest Rate: 3.35% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$50,000
  • ICBC
    • Interest Rate: 3.40% p.a. (via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • Bank of China
    • Interest Rate: 3.50% p.a. (via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months or 9 months
    • Minimum Amount: S$10,000
  • RHB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months or 6 months or 12 months
    • Minimum Amount: S$20,000
  • HSBC
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$30,000

June 2024 Best fixed deposit rates by commitment period

3-Month commitment period:

  •  Syfe Cash+ Guaranteed
    • Interest Rate: 3.75% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  •  StashAway Simple Guaranteed
    • Interest Rate: 3.70% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: No minimum
  • ICBC
    • Interest Rate: 3.40% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • Bank of China
    • Interest Rate: 3.50% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$10,000
  • HSBC
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$30,000
  • Hong Leong Finance
    • Interest Rate: 2.90% p.a.
    • Commitment Period: 3 months or 4 months
    • Minimum Amount: S$50,000
  • Citibank
    • Interest Rate: 2.50% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$50,000

6-Month commitment period:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.75% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.50% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: No minimum
  • Bank of China
    • Interest Rate: 3.30% p.a.(via mobile banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.15% p.a.(via e-banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 3.20 – 3.25% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$10,000
  • RHB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$20,000
  • Standard Chartered
    • Interest Rate: 2.90 – 3.10% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$25,000
  • OCBC
    • Interest Rate: 2.60% p.a.(internet banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$30,000
  • State Bank of India
    • Interest Rate: 3.35% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$50,000

12-Month commitment period:

  • Syfe Cash+ Guaranteed
    • Interest Rate: 3.60% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: No minimum
  • StashAway Simple Guaranteed
    • Interest Rate: 3.30% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: No minimum
  • Bank of China
    • Interest Rate: 3.05% p.a.(via mobile banking)
    • Commitment Period: 12 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.05% p.a.(via e-banking)
    • Commitment Period: 12 months
    • Minimum Amount: S$500
  • CIMB
    • Interest Rate: 2.95 – 3.00% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$10,000
  • RHB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$20,000
  • Maybank
    • Interest Rate: 2.60% p.a.(online placement)
    • Commitment Period: 12 months
    • Minimum Amount: S$20,000
  • OCBC
    • Interest Rate: 2.60% p.a.(internet banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$30,000
  • State Bank of India
    • Interest Rate: 3.05% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$50,000

June 2024 Best fixed deposit rates by minimum deposit

Deposits $10,000 and under:

  • CIMB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$10,000
  • Bank of China
    • Interest Rate: 3.50% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.40% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • DBS
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$1,000
  • UOB
    • Interest Rate: 2.70% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$10,000

Deposits $20,000–$49,999:

  • CIMB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$10,000
  • Bank of China
    • Interest Rate: 3.50% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.40% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • RHB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months or 6 months or 12 months
    • Minimum Amount: S$20,000
  • Standard Chartered
    • Interest Rate: 2.90 – 3.10% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$25,000
  • OCBC
    • Interest Rate: 2.60% p.a.(internet banking)
    • Commitment Period: 6 months
    • Minimum Amount: S$30,000

Deposits $50,000 and above:

  • State Bank of India
    • Interest Rate: 3.35% p.a.
    • Commitment Period: 6 months
    • Minimum Amount: S$50,000
  • CIMB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$10,000
  • Citibank
    • Interest Rate: 2.50% p.a.
    • Commitment Period: 3 months
    • Minimum Amount: S$50,000
  • HSBC
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 3 months or 6 months
    • Minimum Amount: S$30,000
  • Bank of China
    • Interest Rate: 3.50% p.a.(via mobile banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • ICBC
    • Interest Rate: 3.40% p.a.(via e-banking)
    • Commitment Period: 3 months
    • Minimum Amount: S$500
  • RHB
    • Interest Rate: 3.25 – 3.30% p.a.
    • Commitment Period: 3 months or 6 months or 12 months
    • Minimum Amount: S$20,000
  • DBS
    • Interest Rate: 3.20% p.a.
    • Commitment Period: 12 months
    • Minimum Amount: S$1,000
  • Hong Leong Finance
    • Interest Rate: 2.90% p.a.
    • Commitment Period: 3 months or 4 months
    • Minimum Amount: S$50,000

Disclaimer: Rates are promotional and subject to change by banks. For the most current rates, visit the respective bank websites. /TISG

Read also: Best fixed deposit rates in Singapore for May 2024

Featured image by Depositphotos

Cheo Chai Chen: Missed opportunity for Chiam-led SDP

Tan Bah Bah
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Cheo Chai Chen: Missed opportunity for Chiam-led SDP

Cheo Chai Chen, 73, who just died, was part of a very promising phase of Opposition politics in Singapore’s history. As it turned out, he became just an unfortunate footnote cum missed opportunity.

If fate had been kinder, Singapore could have had a sizeable Opposition long before the Workers’ Party’s emergence in the post-Barisan Sosialis era. Anything could have happened.

The Singapore Democratic Party trio of Chiam See Tong (Potong Pasir), Ling How Doong (Bukit Gombak) and Cheo (Nee Soon Central) – joined by the WP’s Low Thia Khiang in Hougang – showed that Singaporeans were already keen in the 1990s to move away decisively, and not in any token manner, from the People’s Action Party’s dominance.

The announcement of the 1991 General Election results is still etched in the memory of many voters, including me. There was a feeling on the ground then that the PAP was too cocky and was taking voters for granted.

Issues such as the Central Provident Fund withdrawal amount and age and perceived arrogance of some PAP leaders or candidates made the ground very soft for the Opposition, which employed the by-election effect strategy to boost its chances.

It was urging voters to treat the election as they would a by-election. Since the Opposition was not fielding enough candidates to form the next government, voters were told that it was safe to take chances and vote into Parliament as many Opposition candidates as possible. Especially since voters did not see the moderate Chiam as a trouble-maker out to disrupt anything.

I remember very clearly the sense of anticipation as Singaporeans awaited the announcement of the GE1991 results. Each time an Opposition win was called, the HDB blocks resounded with roars of approval.

Imagine how loud these roars were, coming from hundreds of thousands of residents in the HDB heartlands. And I could almost swear that even some policemen joined in the cheering.

That was the mood then. But the euphoria did not last too long. Elected or not, Opposition MPs faced the same obstacles as any Opposition candidates. They had to do their Meet-the-People sessions in void decks. Tough.

Although I must say, an elected Opposition MP at that time commanded the same respect as any PAP one. I once attended the charity premiere of a film at Northpoint, where Cheo Chai Chen was the guest of honour. The host? EDB’s Philip Yeo.

But it became clear as the months and years went by that the redoubtable Chiam See Tong’s coat-tails were not long or strong enough to carry his fellow SDP MPs.

Whether or not it was because the two MPs did not work the ground well after their election or were ineffective in their MPS work or were seen as substandard Members of Parliament, they were not re-elected.

Then came the Chee Soon Juan SDP phase where Chiam was ousted and continued his political journey in Parliament as the Singapore People’s Party MP for Potong Pasir.

No SDP candidate has ever made it back to Parliament.

It was not until 2011 that the Opposition had a relatively substantial presence with the capture of Aljunied GRC.

Many ifs.

If Cheo and Ling had done well or even decently and not squandered their seats, the foundation would have been laid for voters to give more Opposition MPs a chance, not just for one term but continuously.

Pritam Singh (Low before him) and company proved that. And can you see the WP Sengkang GRC team, elected in GE2020, suffering the same fate as Cheo and Ling? Unlikely.

And if the original SDP had not been disrupted in its development, it might have had a smoother runway than the post-Chiam version to take off in Parliament.

We never know.

Tan Bah Bah is a former senior leader with The Straits Times. He was also managing editor of a magazine publishing company

ST Engineering’s “BrightCity” smart water solution set to transform water metre monitoring and management

Mary Alavanza
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0
ST Engineering’s “BrightCity” smart water solution set to transform water metre monitoring and management

SINGAPORE: ST Engineering’s BrightCity, launched on June 7, is a new smart water metre monitoring and control system designed to help cities and utility providers manage water more effectively.

According to the Singapore Business Review, BrightCity offers a cost-effective, end-to-end solution applicable to existing (brownfield) and new (greenfield) infrastructure projects.

Gareth Tang, Head of Smart Utilities & Infrastructure at ST Engineering, highlighted the importance of this new technology:

“By digitalising conventional water metres infrastructure at scale, BrightCity provides real-time insights, empowering utility providers and end users to manage water consumption effectively and enhance sustainability.“

A key feature of BrightCity is its Metre Interface Unit (MIU). This unit integrates easily with existing water metres, enabling wireless communication for digital data collection and transmission.

The data is sent to a central Metre Data Management System (MDMS), which gathers real-time information from various metres. The MDMS allows for automated, comprehensive monitoring and control of metering infrastructures across large urban areas.

Security is a crucial part of the BrightCity system. Its encrypted data management ensures safe data collection, analysis, and real-time alerts, improving the detection of water leaks and overall water management.

The system also works on open communication networks like NB-IoT/Cat-M and LoRa. This avoids dependency on specific networks or equipment, making it adaptable to various environments.

In addition, BrightCity has a customer portal and mobile app that provide users with real-time water consumption readings and comparison benchmarks.

Consumers can monitor their water usage and identify unusual patterns, leading to better water use management.  /TISG

Read also: Singapore to coat buildings with reflective paint to cool urban areas by up to 2°C—NTU pilot study

Singapore join forces with the US and Vietnam to boost cross-border electricity trade

Mary Alavanza
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0
Singapore join forces with the US and Vietnam to boost cross-border electricity trade

SINGAPORE: Singapore has teamed up with the US and Vietnam in a groundbreaking move to boost cross-border electricity trade.

The key focus is ramping up renewable energy investments and exploring the potential for a regional subsea cable network.

Singapore Business Review reports that the initiative is spearheaded by the Singapore Ministry of Trade and Industry (MTI), the US Department of Energy, and Vietnam’s Ministry of Industry and Trade.

According to MTI, “This is the first such multilateral workstream among the three countries in promoting regional power interconnectivity, with the aim to establish regulatory frameworks, infrastructure, and a supportive ecosystem.”

Building upon the foundation laid by the Vietnam-Singapore energy cooperation agreement inked in October 2022, and ongoing feasibility studies between Singapore and the US on regional energy connectivity, the team aims to expedite the advancement of the ASEAN power grid.

The initiative involves knowledge sharing, capacity building, and fostering consensus on subsea cable matters within the region. The working group’s first meeting took place alongside the IPEF Clean Economy Investor Forum.

The meeting’s leaders included Tan See Leng, the Second Minister for Trade and Industry, Nguyen Hong Dien, Vietnam’s Minister of Industry and Trade, and Kenneth Vincent, the Director of the US Department of Energy’s Office of Asian Affairs.

Meanwhile, the US International Development Finance Corporation is poised to invest in the Southeast Asia Clean Energy Fund II (SEACEF), subject to congressional approval.

This funding will enable SEACEF to mobilise approximately S$235.46 million (US$175 million) for projects to advance towards a climate-resilient economy and bolster energy security in Southeast Asia.

According to MTI, SEACEF’s investments will act as a catalyst for additional financing from other investors. Target sectors for investment include “clean power, energy storage, energy efficiency, electric mobility, and grid infrastructure.” /TISG

Jasper secures S$9M investment for AI digitalisation for maritime operations

Mary Alavanza
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Jasper secures S$9M investment for AI digitalisation for maritime operations

SINGAPORE: Jasper Investments Limited has recently secured a hefty investment of over S$9 million to drive innovation within the maritime industry.

Led by Dennis Goh, the company’s executive chairman and CEO, this funding will fuel the expansion and development of artificial intelligence (AI) driven digitalisation tailored for maritime operations.

Singapore Business Review reported that the funding was finalised through placement agreements on June 6. Through subscription agreements, the company is set to issue more than 6.2 billion new ordinary shares, each priced at S$0.0015.

Accompanying this issuance are 3.1 billion new free warrants.

Mr Goh and Osith Ramanathan, Independent Directors, have personally invested S$2 million and S$0.25 million, respectively, into the company.

Mr Goh’s investment also includes an additional S$0.25 million facilitated through a convertible loan note in October 2023.

Both Mr Goh and Mr Ramanathan have converted their directors’ fees into new ordinary shares, cementing their dedication to Jasper’s growth trajectory.

In addition, strategic collaborations with Prosper Excel Engineering and Lyte Ventures have been announced to integrate revenue-generating marine assets and leverage advanced fintech solutions.

These partnerships aim to revolutionise digitalisation efforts in the maritime sector. Jasper Investments expressed in its filing:

“Once we have established the maritime ecosystem we intend to serve, we are cautiously optimistic that the company will be able to develop the capability to allocate capital in a more optimal way than many other maritime companies.”

They further emphasised the significance of AI technologies in their ecosystem, noting:

“The adoption of AI technologies in our ecosystem will go a long way towards identifying data-driven trends which in turn guide us to make prudent capital allocation decisions at every inflexion point in the maritime economic cycle.” /TISG

Sadfishing: The Dark Underbelly of Social Media

Gemma Iso
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Sadfishing: The Dark Underbelly of Social Media

In the digital age, social media has become a space where people share their brightest moments including their darkest struggles. Among the myriad trends that have emerged, “sadfishing” stands out.

This term describes the act of exaggerating or even fabricating emotional distress to garner attention and sympathy online. Picture a post saying, “I can’t believe how much I’m struggling right now. Nothing ever seems to go right for me,” paired with a sad selfie and a crying emoji. The ambiguity of such posts often prompts a wave of sympathetic responses from well-meaning followers, even if the intent behind the post is more about seeking attention than seeking help.

 The “whys” of sadfishing

A 2023 study published in BMC Psychology revealed that adolescents grappling with anxiety and depression, who also feel a lack of social support, are particularly prone to sadfishing. The study found gender differences in sadfishing behaviors: boys tend to sadfish more during adolescence, but this behavior decreases as they grow older, while girls’ inclination to sadfish increases with age.

Denial serves as a coping mechanism that allows individuals to avoid confronting painful emotions or events. Instead of addressing their real issues, they seek validation and sympathy on social media by displaying exaggerated emotions. However, this temporary escape does not effectively help manage emotions or address underlying problems.

Intoxication can lead to impulsive, emotionally charged posts on social media as alcohol lowers inhibitions and impairs judgment.

Those with traits of histrionic personality disorder are more likely to engage in attention-seeking behavior, constantly seeking excessive attention and validation on social media.

Individuals with an anxious attachment style, characterized by a high need for approval and fear of rejection, may also engage in sadfishing.

While seeking attention in times of distress is normal, sadfishing crosses a line by manipulating others’ emotions for personal gain.

In a social media landscape where reality and performance often intertwine, it is important to address sadfishing with compassion to maintain the integrity of online communities and foster genuine support.

Cover Photo: Depositphotos

Related Stories:

Poll: Number of teens with depression and hopelessness skyrockets due to rise of social media

Paperclipping: When Your Past Sneaks Up Uninvited, Here’s How to Deal

The post Sadfishing: The Dark Underbelly of Social Media appeared first on The Independent News.

SG student says “my mum called me selfish just because I’m not giving my dad $700” from her $2000 award

Yoko Nicole
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0
SG student says “my mum called me selfish just because I’m not giving my dad $700” from her $2000 award

SINGAPORE: A Singaporean student took to social media to recount how her mum accused her of being selfish when she declined to give her dad $700 from her $2000 contest winnings.

In her post on r/SGexams, she explained that she intended to split the money four ways: $100 each for her older sister and mum, $400 for her dad, and the rest for herself.

“I told my mum that I will need around 1400+ (using the award money) for the ipad that I’m buying. The course I’m taking currently requires an iPad and I didn’t want to burden my parents by telling them I needed an iPad for my schoolwork,” she said.

However, things escalated when her dad insisted that she give him an extra $300, on top of the $400 she planned to give him, for their trip to Australia.

When she disagreed, her parents reacted defensively and told her that she wasn’t a filial daughter. They even attempted to make her feel guilty by mentioning the time her dad bought her a computer.

“I found it a little unreasonable since my mum already told me to get an iPad myself, but she still called me selfish just because I’m not giving my dad $700,” she opined.

The student disclosed that this wasn’t the first time she’d been asked to share her winnings from awards or competitions with the whole family.

“As far as I recall, every-time I get an award or win a competition, my mum would ask me to share some of the money with the family as she insists that it’s a way to train my sister and I to be filial when we grow up next time,” she added sharing her stressful family situation.

“Take this as a $700 lesson.”

Many Singaporeans found it unfair that she was expected to split her winnings with her entire family and also contribute towards their trip to Australia.

One individual asked the student, “Is money tight at home? You are already very filial to pay for the iPad yourself and still split the remaining amongst family. It seems like you cannot make everyone happy.”

Some also pointed out that she was still under her parents’ care and hadn’t landed a full-time job yet, so it didn’t make sense for her to hand over her hard-earned money to her parents when she had her own expenses to worry about.

A few also stressed that while it’s important to take care of one’s parents, it shouldn’t come at the expense of one’s own financial stability. They thought parents should be more mindful of how they ask for help from their kids, considering the pressures young adults face these days.

One individual said, “Yet another case of parents who don’t understand that giving birth to a child is their choice, not ours.

It is a moral duty to provide the child with the best life you can for this life is one that you forced upon it. Its not an act of charity and they aren’t owed anything.”

They then advised her to just ignore her parents’ requests and take it as a lesson for the future—that she should keep her salary and bonuses to herself, even from her family and her future spouse.

One individual commented, “Just from this story it hints at what’s gonna come when you start working in the future. Think twice before you disclose your earnings and savings. Take this as a $700 lesson.”

Read also: Singaporean says it’s “irresponsible for parents to pin their hopes and dreams on their children”

Featured image by Depositphotos

“We can’t save money at all in Singapore” — Woman says that even her husband’s $9K monthly salary is still not enough

Yoko Nicole
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0

SINGAPORE: Many people assume that having a high income guarantees financial stability, but the reality is quite different for one woman.

Taking to r/askSingapore, she shared that despite her husband’s substantial monthly income of $9,000, they were still experiencing financial difficulties. “My husband earns 9k a month but it seems to be not enough. Recently, we can’t even save at all,” she wrote.

“We don’t have a lavish lifestyle, but we barely have food. We don’t even eat out a lot. Maybe once a week or sometimes not at all. And if we do, it’s only gonna be fast food,” she added.

She also revealed in her post that her husband shoulders the entire financial responsibility as the sole breadwinner while she takes on the role of a dedicated stay-at-home mom, caring for their two young children, aged 6 and 11 months.

As for their monthly expenses, she shared that a substantial portion of her husband’s $4,000 income is allocated to rent.

Their additional expenses include $180 for utilities, $50 for phone bills, $1,000 for a student loan, $300 for credit payments, $500 for baby essentials, $100 for transportation, and over $1,000 for groceries.

Despite expecting to save around $1,800, the woman said that unexpected costs often eat into their remaining money, leaving them with no surplus at the end of the month. She then asked the local community, “Are we not doing this properly?”

Singaporeans point out rental expenses as the main problem

In the online discussion, many agreed that the family’s major hurdle stemmed from their rental expenses. According to the Redditors, channeling almost half of their household income into rent was simply unsustainable.

They then offered a practical financial guideline: rental costs (or mortgage payments, where applicable) ideally should not surpass 30% of their monthly income.

For this family, following this rule would mean considering a change in residence or opting for a smaller unit that only costs $2,700.

Alternatively, a few proposed exploring the option of renting an HDB flat, estimating that this could bring their rental expenses down to approximately $3,200.

One individual commented, “You are paying $4K in rent, which the average SG household doesn’t (public housing). So not being able to save much is unsurprising.”

Another added, “Just the monthly fixed cost of 5.3k is insane with a 9k income. I dread to think about some of the cost you are not including, including taxes, insurance.

Don’t even talk about savings, I am surprised you can even last with 9k unless that is the take home pay after taxes, CPF, etc. (if relevant).”

Some also pointed out another issue in their family’s financial situation: their household income fell below the median level.

One individual said, “Singapore needs dual income households to survive; 9k household income is actually below median.”

Another explained that, comparatively, their household income is akin to what two typical university fresh graduates would earn. This meant that they’re not as financially well-off as some might assume.

He then added, “Sorry to say this but Singapore has a low birth rate for a reason, they want you to have kids but expect both adults to work.”

Read also: Man says his wife only thinks of “good places to eat and travel” while he worked tirelessly as the sole breadwinner

Featured image by Depositphotos

Goh Chui Ling rewrites Yvonne Danson’s 27-year-old 5,000m national record

Khalis Rifhan
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0
Goh Chui Ling rewrites Yvonne Danson’s 27-year-old 5,000m national record

SINGAPORE: Singapore national track and field athlete Goh Chui Ling etched her name into the records book as she shattered Yvonne Danson’s 27-year-old 5,000m national record.

Goh set a new national record during the 11th Münchner Abendsportfest in Munich, Germany, finishing in second place with a time of 17 minutes 33.73 seconds.

Goh, a multiple Southeast Asian (SEA) Games medallist, finally felt relieved as she exorcised the demons of her previous heart-wrenching close calls.

The 31-year-old can now showcase the hard work of her unwavering resolve and unrelenting passion and reached the elusive mark that had tantalisingly hovered just beyond her grasp for far too long.

“The race was quite controlled because the other girl in the race had a pacer.

It actually felt quite relieving to break the national record as it has been in the legs since I recorded my National Best for the 5km Road, which is still close to 20 seconds faster.

It has been a season of near misses for both the 5000m and 10,000m, so it’s great to get that breakthrough and keep it going for the remainder of this season!” expressed a joyful Goh, who narrowly missed out on breaking the national 5,000m record two weeks ago in Switzerland (17 min 36.83 sec).

Photo: Facebook screengrab / chuiling.goh.5

The national 5,000m record, held by Danson since 1997, has stood the test of time.

Danson, who received her Singapore citizenship in 1995, made history a year later by becoming the nation’s first female Olympic marathon runner at the 1996 Atlanta Games at 37.

Danson’s track and field career was marked by numerous achievements, including winning the silver and bronze medals as she set the national records for the marathon (2 hour 34 min 41 sec) and 10,000m (36 min 27.39 sec), during the SEA Games in Thailand in 1995.

However, Danson’s long-standing national record in the 10,000m event (36 min 27.39 sec) is now precariously on the brink of being surpassed, as Goh’s relentless pursuit of excellence has seen her inch tantalisingly close to the mark.

Her current personal best time is 36 min 29.75 sec.

Chee Swee Lee’s decade-long national 800m record is also within touching distance by Goh, with the former setting a record time of 2 min 07.4 sec in 1976 while the latter’s personal best is currently 2 min 07.79 sec.

Goh Chui Ling – SEA Games Medals (Photo: website screengrab / singaporeolympics)

Goh currently has three bronze medals and a silver medal from two SEA Games outings.

At the 31st SEA Games, held in 2022 in Vietnam, she came in third place in the 1,500m and 10,000m events, with timings of 4 min 33.41 sec and 39 min 22.26 sec, respectively.

However, the Southeast Asian Sports Council later announced that her medal in the 1,500m event would be upgraded to bronze after the second-placed athlete, Khuat Phuong Anh (Vietnam), was stripped of her medal due to a doping incident.

At the subsequent SEA Games held the following year in Cambodia, Goh clinched bronze medals in the 800m and 1,500m events.

In the 800m race, she finished in third spot with a time of 2 min 09.15 sec, while in the 1,500m event, she set a new national record of 4 min 26.33 seconds.

According to the Singapore Athletics Association, Goh currently has eight national records and national bests—1,500m, 2,400m, 3,000m, 5,000m, 5km Road, 10km Road, 4 x 400m, and 4 x 400m Mixed.

“Is making $100K by age 30 even relevant in Singapore anymore?” — One Singaporean affected by rising wages and inflation asks

Yoko Nicole
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“Is making $100K by age 30 even relevant in Singapore anymore?” — One Singaporean affected by rising wages and inflation asks

SINGAPORE: Many Singaporeans aim to hit $100,000 by the time they turn 30, but is this goal still relevant today?

One Singaporean recently posed this question online after noticing that “everyone” he encounters online seems to have already achieved $100,000 even before reaching 30.

“It seems most people are already earning high salaries the moment they step out of school and getting near or past 100k even before turning 30,” he wrote on r/Singaporefi.

“… with rising wages and inflation, is this age-old financial advice becoming outdated?” he asked.

In the comments section, many Singaporean Redditors were quick to dismiss the idea that everyone in their 30s has already reached this financial milestone.

They pointed out that just because some individuals on the internet or Reddit boast about their financial successes doesn’t mean everyone is financially secure.

Additionally, they noted that individuals facing financial challenges or having lower incomes typically do not share details about their salary, investments, or savings online.

This means that the observation made by the Singaporeans doesn’t accurately represent the entire Singaporean population in their 30s.

Moreover, they gave some solid advice to the Singaporean: always take what he sees or reads on social media with a grain of salt, especially regarding money matters.

They reminded him that not everyone is completely honest about their finances and that social media often sugarcoats reality.

One individual said, “You got access to everyone’s bank account statistics meh? How do you know most people. Don’t let social media alter your perception.”

Another commented, “Nothing on social media is representative of anything.”

Several others also commented that the $100,000 benchmark is flawed because everyone’s situation is different. For some, reaching $100K by a certain age might be doable thanks to a cushy job, low expenses, or strong family support. 

But for others dealing with money troubles, lower-paying jobs, or family responsibilities, hitting that mark might seem like an impossible dream.

One individual stated, “Here’s a hot take. If you live at home and don’t have any expenses like rent, parents pay for most bills and don’t have any debt. $100k is not a big deal. So don’t think you’re ‘self made’. You’re just in a position of privilege.”

Another person also mentioned that the $100k benchmark is no longer relevant today due to inflation.

Based on Singapore’s Consumer Price Index (CPI) numbers, one would need around $114k in 2023 to have the same purchasing power as $100k in 2018, just five years ago. 

He added, “There’re some things that are not captured accurately by the CPI too: like resale HDB prices and private residential prices, both of which have gone on a tear in the past five years.

These things affect those who’re aged 30 more than adults in their 40s.”

Read also: 30yo with no savings asks, “How do I get over my financial anxiety?”

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