60% stamp duty for foreign property buyers (except for us citizen and selective counties), good luck. And you can’t by new or resale HDB unless you become SG citizen or PR
I feel like Singapore has a lot going for it but I wouldn't want to be there permanently. It could be nice to go there if you already have a high savings though.
Working in Singapore is a dog-eat-dog business. You have to compete and get on top of one another, whatever tricks youhave to use. There is no work life balance. Work owns your life.
Thank you for sharing. Fully agreed. In USA, on top the federal tax rate stated in your video , there are also mandatory FICA social security tax 7.65% on your GROSS income (wages as an employee, up to cap approximately $185K) needed to add to the the Federal Income tax rate , state taxes, county taxes. school taxes, port taxes, local community college taxes, property taxes and etc.. Also, you need to pay your family private medical insurance monthly before your Medicare kicks in at age 65 plus....Effectively ,your monthly paycheck, big portion goes to various taxes directly or indirectly. Public healthcare and public kid college-of attendance (COA) in USA are generally like paying private healthcare and private college services in Singapore. Passive income like dividends and deposit interests or capital gains (hold less than 1 year ) are tax at your Federal Income Tax bracket again even tough corporate has paid the corporate income tax already. To create wealth and sustain it well in your life time (you only live once), it is wise to choose to live in a country which the government is super rich like Singapore. So the public services like healthcare and kid college education COA do not need to be paid by tax payers own pocket again after paying various federal , state, county and FICA taxes. Freedom is not free after all. Just personal view.
Wow thank you for sharing! That sounds so intense and it sounds like it's a real uphill battle to have enough for daily living there. "Freedom is not free after all" - thanks, I will be using that phase more often. I wish more people would know that and see that ultimately life is about trade offs. Wishing you all the best in your financial journey!
Yes it's great and a pity it's NA for foreigners. But I know of overseas colleagues making use of the SRS scheme voluntarily because it invests for retirement and also is tax deductible :)
Intra-company transfer is the biggest loophole for third world country managers to bring in their connections to Singapore. It has caused the most problems as these people did not come in on their work merit, and in the end, take away jobs from more capable individuals in Singapore.
Hi I am Mahedi and I have been working as a Digital Marketer and RUclips growth specialist for the last three years. I was analyzing your RUclips channel and I feel maybe you are quite worried about the growth of your RUclips channel. Because the quality of your content is so good but your channel views and subscribers are not increasing accordingly. I found some of your channel issues. Your channel's videos are not SEO optimized. The keyword section of your videos is not properly customized. Video related keywords are not used in your description box. No link building has been done behind your video. Your video has not been promoted on any social media for organic growth. The most important thing is that your channel is not monetized. If you want I will help you to solve those problems in your channel and also help you to get your potential subscribers and views from your targeted location.
Thank you, I actually used to work in Google so all your optimization tips make absolute sense. For now I just want to learn and strive it out for myself first, but thanks for offering your service and good luck!
Singapore Salary Guide 2024 : www.morganmckinley.com/sg/salary-guide
60% stamp duty for foreign property buyers (except for us citizen and selective counties), good luck. And you can’t by new or resale HDB unless you become SG citizen or PR
I feel like Singapore has a lot going for it but I wouldn't want to be there permanently. It could be nice to go there if you already have a high savings though.
Working in Singapore is a dog-eat-dog business. You have to compete and get on top of one another, whatever tricks youhave to use. There is no work life balance. Work owns your life.
Awesome vid Shao!
Thanks mate!
Thank you for sharing. Fully agreed. In USA, on top the federal tax rate stated in your video , there are also mandatory FICA social security tax 7.65% on your GROSS income (wages as an employee, up to cap approximately $185K) needed to add to the the Federal Income tax rate , state taxes, county taxes. school taxes, port taxes, local community college taxes, property taxes and etc.. Also, you need to pay your family private medical insurance monthly before your Medicare kicks in at age 65 plus....Effectively ,your monthly paycheck, big portion goes to various taxes directly or indirectly. Public healthcare and public kid college-of attendance (COA) in USA are generally like paying private healthcare and private college services in Singapore. Passive income like dividends and deposit interests or capital gains (hold less than 1 year ) are tax at your Federal Income Tax bracket again even tough corporate has paid the corporate income tax already. To create wealth and sustain it well in your life time (you only live once), it is wise to choose to live in a country which the government is super rich like Singapore. So the public services like healthcare and kid college education COA do not need to be paid by tax payers own pocket again after paying various federal , state, county and FICA taxes. Freedom is not free after all. Just personal view.
Wow thank you for sharing! That sounds so intense and it sounds like it's a real uphill battle to have enough for daily living there.
"Freedom is not free after all" - thanks, I will be using that phase more often. I wish more people would know that and see that ultimately life is about trade offs. Wishing you all the best in your financial journey!
People coming to Singapore for a job will never get rich , seeing the cost of everyday living and the relatively low Salaries
Indeed the cost of living has really shot up here too. I was in McDonald's earlier and was surprised with how fast their prices can climb up
That's because you want a lifestyle & not building a future.
CPF is a good tool to save for retirement. But it apply to Singaporean and PR only.
Yes it's great and a pity it's NA for foreigners. But I know of overseas colleagues making use of the SRS scheme voluntarily because it invests for retirement and also is tax deductible :)
Intra-company transfer is the biggest loophole for third world country managers to bring in their connections to Singapore. It has caused the most problems as these people did not come in on their work merit, and in the end, take away jobs from more capable individuals in Singapore.
What third world countries have managers in Singapore? We are on RUclips no need to be prudent.
you are the guy
You too boss! Keep up the good fight!
NOT POSSIBLE WITH WORK
Only Singaporeans are striving to live a decent life.No space to live a decent and comfortable life for an average family .
I hope you're rich🤣
haha thank you! I hope you are rich too! (or at least on your way!)
Hi
I am Mahedi and I have been working as a Digital Marketer and RUclips growth specialist for the last three years.
I was analyzing your RUclips channel and I feel maybe you are quite worried about the growth of your RUclips channel. Because the quality of your content is so good but your channel views and subscribers are not increasing accordingly. I found some of your channel issues. Your channel's videos are not SEO optimized. The keyword section of your videos is not properly customized. Video related keywords are not used in your description box. No link building has been done behind your video. Your video has not been promoted on any social media for organic growth. The most important thing is that your channel is not monetized.
If you want I will help you to solve those problems in your channel and also help you to get your potential subscribers and views from your targeted location.
Thank you, I actually used to work in Google so all your optimization tips make absolute sense. For now I just want to learn and strive it out for myself first, but thanks for offering your service and good luck!
@@9to5MillionaireMindset Thanks for your reply
You own channel have 3 subscribers 😂
@@RahulSen169-y9l 🙂 I have another channel