SG Wealth Builder

Sharing of personal finance experiences and thoughts

SG Wealth Builder

Sharing of investment insights

SG Wealth Builder

Sharing of entrepreneur insights and business opportunities

SG Wealth Builder

Sharing of career insights

SG Wealth Builder

Sharing of wealth building strategies money making opportunities

Monday, April 30, 2012

Plight of a Singaporean male

Recently, I was flattered to receive a long feedback from one of my readers, Hyom, to my previous post on a business idea to provide services to foreigners and PRs residing in Singapore. There was a lot of angry thinking in his response and I can also sense a tinge of injustice when he mentioned that he, as a Singapore citizen had to fork out much money for his tertiary education whilst foreigners of lesser talent received scholarship using our tax-payers monies. I thank him for his honest feedback and can relate 100% with him as I am a fellow Singaporean.

Life as a Singaporean male in Singapore is not easy. My wife is a 100% Singaporean, so is my brother, sister, brother-in-law, sister-in-law, parents and grandparents. I, too, went through the tough education system and paid for it myself. I, too, earned S$300 a month as a NSF for 2.5 years. I, too, compete with FTs for jobs in the market. Having contributed (and still do) to National Defense and economic growth for many years, I wish the country, in turn, can do something for me and fellow Singaporean. I feel that we were taken for granted by the country for many years. As SAF celebrates 45 years of National Service this year, I hope the country takes into recognition the contribution of NS and NSF men. We are the ones protecting this nation and sacrifice precious family times for NS training. Not the foreigners/PRs. So please do not discriminate Singaporean males in Singapore!

Sunday, April 22, 2012

Business Idea: Service Provider to help foreigners/PRs integrate into Singapore

Quite some time ago, one of my readers visited my blog and suggested that one niche business idea could be to provide a service to help foreigners/PRs integrate into Singapore society. I have mixed feelings when he suggested this to me.After all, I am a true blue Singaporean, being born and having lived here for three decades and served my two and a half years of NS.These foreigners/PRs come here and compete with our PMETs for jobs at lower wages without having to serve NS. They also compete with our locals for our kids P1 places, burden our transport system, occupied our hospital beds, take up our scholarships and view Singapore as solely a place to become rich. I feel that this is so unfair. Henceforth I would never provide a service to help the foreigners/PRs integrate into our society. Perhaps there are Singaporeans who are able to do it and make it into a successful business model but definitely not me.

Sunday, April 15, 2012

Business idea: Confinement nanny agency

I have not been blogging for quite some time. This is because last month I became a first-time dad and I was real busy with my day-time job. I engaged a confinement nanny to look after both my wife and my little bundle of joy during this challenging period.

During our research on confinement nanny agencies in Singapore, me and wife realised that there are not many established ones around, notably only a few. Eventually we settled for PEM which claimed to be the largest confinement nanny agency in Singapore. The first nanny lasted for one week and left because she claimed her grandmother passed away and she needed to go back to Malaysia. The replacement nanny who stayed throughout the confinement period was old and slow.

We were not satisfied with the services of PEM but held on to their services because we felt it was a hassle to keep changing nannies during this short period of one month. Somehow we also felt that the services rendered wasn't value for money. During the contractual discussion, we stated that the nanny was expected to perform basic household chores, cooked for me and my wife and also take care of the baby. However, the replacement nanny ended up spending more time in the kitchen and less time looking after the baby. Below is a break-down of the cost:

1) S$700 to the confinement agency
2) S$1300 to the confinement nanny
3) S$300 worth of herbs for my wife
4) S$140 to CPF for the foreign helper levy

Looking at the amount of money I spent, confinement nanny services is definitely a lucrative and in-demand business in Singapore. There are not many such agencies around and most of them source their nannies from Malaysia. If you have lobang, this can be a potential business to invest in.

Magically yours.