1. Inflation and rising cost of living would make that 500 today
become only 100 in future. Basic food, shelter, healthcare,
education, and etc might cost 10 -20 times more than we know
today.
2. Laws change often - you might not see your CPF ever cause
retirement age was raised to 80. Taxation laws can change anytime
to collect more tax in more creative ways to penalize the middle
income. More laws can be implemented to fine more people and
etc.
3. More ways to collect more tax,monies,etc from people - GST might
be raised to 30%. There might be a ERP installed at your door to
collect toll even you use the corridor and etc. More donations can
be setup to collect more 'donations' for the poor rich people who
cannot afford their dialysis or heart-malfunction or etc. Poor,
non-elites just jump onto incoming MRT.
4. Our salaries will never catch up with rising costs because of
the artificial capping due to FTs, cheap FT labour and the
controlled market. Starting a business to earn more money in
singapore is next to impossible, who can compete with GLC/Gov owned
companies who are dominating everything and making more money for
the elites?
5. Insurance is not really enough. Besides it does not make much
earnings even if it is tied to investments. Its pathetic to even
rely on insurance.
