SINGAPORE: While some insist that profitable business and financial investment are the way out of poverty, others still champion the old-school method of studying hard, excelling academically, and securing a good job as the key to a better life.
They shared their insights on r/askSingapore after a Reddit user asked: “Kids who grew up poor, how did you break the chain of being poor? Your own job? or did you find a successful partner? Or something else?
I would like to know as my family is poor and I was wondering if I could ever break this chain.”
One user shared that her three siblings and her mother depended solely on her father’s income, just S$1-2K. Reflecting on how they managed to break the cycle of poverty, she said, “As cringy as it sounds, getting a degree and starting to work was the key.”
Another user, who grew up in a rental flat and qualified for the highest tier of financial assistance due to how little money his parents made, echoed this sentiment.
He said, “Education is your best bet. You don’t have to be the best (although that would certainly help), but you should strive to be at least above average.
Graduated and joined civil service. Am I hypersuccessful with a lot of money? No. Did I break out of the poverty cycle? Yes. And that would not have been possible without education. So if you are still in education, please do your best.”
A third user jumped in with a story about how education transformed her friend’s life.
She said, “She worked hard, did well in academics. You can tell she’s blessed with high IQ and EQ. She’s now living the Singaporean dream – condo, car, and Head of a division in MNC company. She did this before the age of 35.
I hope you get to break the chain per say. Next generation will always be better.”
Meanwhile, others offered additional gems of wisdom on escaping poverty, emphasizing the importance of perseverance, resourcefulness, and leveraging every opportunity for advancement.
One user wrote, “An answer that works but is probably not popular is to take full advantage of any government subsidy you can.
The poorer you are, the more you should lean on support. You’re essentially having to run while others are walking, so if someone is offering you proper shoes and energy drinks, just take them. In fact, look for people who will offer these to you.”
Another user stressed the importance of maintaining a sharp and disciplined mentality after securing a job, cautioning that failing to do so could result in slipping back into the poverty trap and becoming permanently ensnared in it.
She wrote, “You must do a proper financial planning for yourself and your dependents, if any. If you don’t know how, seek advice from trustworthy, ethical and knowledgeable advisors.
Savings Enhancement, Educational, Protection coverage, Property, Family, Investment Growth, Retirement planning progressively, depending on your life stages. Can do it concurrently when you can.”
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