Chinyee T. on LinkedIn: #nationaldayrally #singapore #chinupandrise #secureyourfuture… (2025)

When I moved into my 60th year, there was a ‘Lightbulb’ moment that crystallised many things in my mindset, perspective & passion.I am greatly encouraged that Singapore is doing likewise.Am delighted to learn of the many policy resets from PM Lawrence Wong at the National Day Rally yesterday.From introducing 10 additional weeks of parental leave - as a strong signalling of the government’s support of us having children, to having 6 months of stipend support for those who are retrenched to get them back on their feet, to paid upgrading training for up to $72k, to sun setting the 40 year old Gifted Education Program- GEP - and having this in All schools instead of just for some in the elite GEP centres.Bold Reimagining of a New Singapore.A Renewed Singapore with Many Paths to Success - beyond just academics to vocational skills and sports.A Singapore that this is Pragmatic in its Policies , Passionate as a People, Principled and yet showing a People centric Purpose that continues to have a Place in the world, is an Enlightened outlook.Really Exciting as Singapore enters its 60th year.Majulah Singapura.SPH Media The Straits Times The Business Times CNA Mediacorp Pte Ltd Ministry of Education, Singapore (MOE) Ministry of Culture, Community and Youth (MCCY) Ministry of Social and Family Development, Singapore (MSF) Ministry of Manpower Ministry of National Development Singapore Singapore International Chamber of Commerce Singapore Institute of International Affairs Institute of Policy Studies, Lee Kuan Yew School of Public Policy SGListCos SGX Group MindForward Alliance Singapore The Law Society of Singapore Singapore Academy of Law Nanyang Academy of Fine Arts Singapore Sports School https://lnkd.in/gvEgbP3q#leaders #leadership #singapore #passion #purpose #people #success

33

2 Comments

#Singapore Prime Minister Lawrence Wong spoke at his first National Day Rally over the weekend.In true Singapore fashion, PM Wong gave not one, but three excellent speeches – in English, Mandarin, and Bahasa Melayu.In what he described as a "major reset", PM Wong outlined concrete steps that his government will take in such matters as families, housing, education, and the economy, in order to keep Singapore strong and united, and to "(share) the benefits of progress to uplift all Singaporeans, and not just a few".A few policy changes stood out for me:1. New Parents: Parents will get an additional 10 weeks of shared parental leave, to be shared by both spouses. This will replace the current arrangement where husbands can share up to four weeks of their wives’ 16 weeks of maternity leave, because why should dads spend less time co-parenting?2. Housing: Singles get priority when buying Build-To-Order (BTO) flats will near their parents . Currently, only married children get priority access to BTO flats.3. Unemployment Benefits: Singapore has always been very cautious about implementing unemployment benefits, so I was pleasantly surprised to hear PM Wong announce a new SkillsFuture Jobseeker Support scheme that will provide SGD 6,000 to unemployed workers while they go for training, career coaching and job matching over six months.4. Professional Development: Every Singaporean aged 40 and above will get an allowance of up to SGD 3,000 a month when they go for full-time training. The allowance will be capped at SGD 72,000 or 24 months’ allowance.5. Education: The Gifted Education Programme, which was started in 1984, will be discontinued in its current form. Instead of being offered in only nine primary schools, all primary schools will be equipped to identify their own high-ability learners and stretch them in their areas of strength and interest.6. Business Regulation: Singapore already consistently ranks as one of the most conducive places in world to do business, but PM Wong believes that regulatory burden on businesses can be further reduced to ensure a business-friendly environment in Singapore, and. In this connection, he has appointed Deputy Prime Minister Gan Kim Yong to oversee a “thorough and proactive review of our rules and processes, and prune them back where possible”.As a Singaporean, I am encouraged that the new 4G leadership are carefully listening to what the people want, moving towards a new normal where "everyone can thrive and flourish on our own terms, in ways that are less prescribed and determined, more open and adventurous" and, dare I say, showing early signs that they are not averse to slaying a few sacred cows.What other policy changes would you like to see?I have included, in the comments below, links to the transcript of PM Wong's English speech, as well as a selection of relevant articles by CNA, The Straits Times, and TODAY .Photo, copyright of Today

37

6 Comments

Tripartism and trust will help Singapore navigate a world ‘fraught with uncertainties’: Tan See Leng https://lnkd.in/g3QQ3cp9

5

< Are you a young Malaysian facing similar challenges to your Singaporean counterparts? Struggling to balance financial responsibility with treating yourself? 🤔 >Young adults aged 21-39 are often praised for their responsibility, but are you finding it difficult to prioritize happiness while ensuring long-term security? Did you know that many young Singaporeans lack a solid retirement plan? How about you, young Malaysians? Are rising costs making it tough for you to save? 💸Picture a future where you're financially secure and able to enjoy life without worrying about money. Financial planning doesn't have to be overwhelming or complex. Let me help you take the first steps towards that bright future🌟Don't you agree that budgeting is essential to keep track of your spending and savings? By managing your finances wisely, you can avoid spending your happiness away and ensure a smart spending strategy for a happier future💡Reach out for a financial planning consultation tailored to your specific needs. Let's work together to secure your financial future💰✨📱📲https://buff.ly/3Xmd1pl#FinancialWellness #MoneyWorries #SmartSpending #SecureFuture #FinancialBehaviours #WomenEmpowerment#StephanieYapUnitTrustAndPrivateRetirementSchemeConsultant #StephanieYapFinancialHappiness #StephFinancialHappinessSource: https://buff.ly/3JFMKNp

From assisting households with more support to enabling more workers to acquire higher skills – these were among the measures unveiled in Budget 2024. How will these initiatives address Singapore’s immediate needs and long-term goals? In the third instalment of the Looking to 2024 series, Dr Kelvin Seah from the NUS Faculty of Arts and Social Sciences, Dr Clara Lee from the Institute of Policy Studies, Lee Kuan Yew School of Public Policy, Dr Xu Le from the NUS Business School, offer their insights on the Budget’s most significant highlights, and consider how the measures will shape Singapore’s fiscal and social landscape in an dynamic and increasingly uncertain global environment.#NUSResearch

40

Wrote an analysis on Prime Minister Lawrence Wong’s first National Day Rally.Some called the #NDR2024 announcements a radical shift in policies. After all such an #unemployment benefit, for instance, would not have been imaginable just a few years ago. Others noted that although they were indeed bold, no sacred cows per se were slain — the way his predecessor Lee Hsien Loong had done so in his first NDR with the casinos.Which brings me to the next point. Mr Wong’s approach differed from Mr Lee’s first NDR, as a reflection of their times. Mr Lee took office off the back of the Asian Financial Crisis and SARS. The issues facing Mr Wong are ultimately more social in nature. The #population demographics have also certainly shifted, those born before and after independence have understandably different upbringings and expectations.Mr Wong hence opened up on a more personal level, making himself relatable to his fellow countrymen, while taking the opportunity to let them get to know him better three months into office. One point which struck a chord was him explicitly saying that he turned out okay even though he was from a neighbourhood school.The sense of egalitarianism in his messaging was then evident in the plans to make the gifted programme available in all schools, and to put within reach of the common man #housing options in the city centre. This redistribution of resources will play out as #Singapore develops in the years ahead. 🇸🇬Thanks to all who contributed your insights, without which this piece would not have been possible on such a short turnaroundKay Key T. Daniel PS Goh Chan-Hoong Leong Nathan Peng Dr. Felix TAN Thiam Kim (PhD)

90

💰How Some Get Poorer💰1) “Young and older investors pick fixed deposit as their top investment choice: Poll”• Source: https://lnkd.in/gBSpia3X• The food prices increased by 6.1% (I felt it’s understated)” and most people want to put in the banks for them to make more out of your deposits while you collect < 1%? 2) The society places too much emphasis on getting up skill vs financial literacy for a simple reason - We have low birth rate, shortage of skilled labour, anti-foreigner manpower policies. 3) Retirement Age to be Extended • Since most people are not so financially literate, their only choice is to work. But for how long?• “From 2026, employees can only be asked to retire when they turn 64 years old as the retirement age in Singapore rises by one year …….. The re-employment age will also be raised to 69 in 2026, Minister of State for Manpower Gan Siow Huang said in parliament on Monday (Mar 4). That means employers must offer employees re-employment until they reach 69 years old. By 2030, the re-employment age will be increased to 70.”• Source: https://lnkd.in/g5uhxdsQOver the years, I have learnt that the ability to make good choices are more important than just blind hard work! If I think that just hard work is enough, I will still be working like a dog in my first employment making a few thousand dollars per month and hoping that one day, my immediate boss will retire and I have a chance to get promoted. Use money to make money (no tax) vs muscle to make money (have to pay tax). #CaydenDailyTots

15

6 Comments

"True Success and Wealth"In a video message on 22nd June 2024, Prime Minister Lawrence Wong outlined his vision of the kind of society that he and his team of ministers hope to build.He said there needs to be a broader definition of success which goes beyond academic and material achievements and which values every individual for who he or she is.He said, “Success is about excelling at what we do today, persevering at it and doing it with pride instead of worrying about status or rewards.”In Singapore’s nation-building and push for economic growth, we built a culture of hard work, meritocracy and academic and material prosperity.The baby boomers achieved remarkable success in GDP but our younger generation are redefining their values and goals and measurements of success.Meaning and purpose of life and environmental, social and sustainability issues feature more prominently.Work-life balance, mental health and happiness and helpfulness become more valued.Understandably, our leaders rallying call is for us to succeed and to succeed together where our success is defined by how one help each other to do well collectively.Remember President Tharman’s presidential campaign slogan – “Respect For All” – for all Singaporeans to build a culture of kinship and respect and empathy for fellow Singaporeans.Being a baby boomer and having experienced Singapore’s phenomenal growth, I share Prime Minister Wong’s and President Tharman’s emphasis on redefining success and encouraging shared success.Right values, right mindset, right character and right conduct make for right corporations, society and nation.In building a financial advisory business, a family and my church at the same time, from the 1980s to date, I have faced many challenges to keep the right course in seeking true success and wealth.

3

Today's headline in The Straits Times spotlights a rising tide in Singapore's economy: "Median monthly household income rises to $10,689." At first glance, this comes across as a positive indicator of progress and growth. As an experienced wealth manager, I greet this news with cautious optimism, recognizing the layer of complexity it introduces to financial planning amidst the context of a GST hike and persistent inflation.While the swelling of household income is undoubtedly a step in the right direction, it compels us to consider a critical question: Is this increase sufficient to elevate our quality of life, or is it merely keeping pace with the cost of living? Amid the rising costs tied to inflation and the impending GST hikes, financial vigilance becomes ever more consequential.This leads to my second point – the strategic management of this income increment to ensure that our money isn't just working harder, but smarter. With effective financial planning, I guide my clients with a simple yet profound formula: Income - Savings = Expenses. I emphasize the importance of predetermining the portion of income slated for wealth accumulation before addressing monthly expenses. This approach not only fortifies financial health but also carves out space for lifestyle enhancement.The allocation breakdown can include categories like Emergency Funds – a financial buffer against unforeseen circumstances; Retirement Fund – investing in your future self's well-being and comfort; and a Reward Fund – allowing for life's pleasures without compromising financial stability. With this premeditated structuring, the remainder of the income can confidently be directed towards daily needs and wants.Adopting these practices early on is key to ensuring that life isn't just about survival but also about enjoyment and fulfillment. This is more than a strategy; it's a mindset shift towards creating a sustainable lifestyle buffered against the ebbs and flows of economic changes. Over the years, I've been privileged to help my clients navigate this journey and witness the positive impact of structured financial planning in their lives.As we stand on the cusp of this newfound income growth, let's engage in a dialogue about making these numbers work for us in the long run. Reach out for a conversation about transforming your financial landscape – let's make this increased household income fuel a fulfilling and enjoyable life.#FinancialPlanning #WealthManagement #IncomeGrowth #SingaporeEconomy #LifestylePlanning #SavingsStrategy #FinancialWellnessEric TanWealth SpecialistIBF Advanced (Level 3)Source: The Straits Times - 8.2.2024

10

https://lnkd.in/gTFPUWB3 I came across the news about Shan's alleged "clapback" (in the words of one of our local news aggregator sites) to the Economist about this article they have put out. The local mainstream media has, unsurprisingly, made a big deal out of the Economist's alleged "sneer" and Shan's "hitting back" in such force. An actual review of the supposed offending "exhibit" in question (instead of relying on hearsay or a third party's piecemeal reporting of the same) is apposite to assess parties' differing positions. Having read the Economist's article, I am in two minds about Shan's reaction and "hitting back". On one hand, I fully agree with him that the UK (at least in the last decade of Tory leadership) has really come rather unstuck, unfortunately. The inflation (a random Novotel in London now easily costs more than 400 GBP a night - almost double what it was before Brexit) and the petty (and unsolved) crime rate are valid "hits". Unfortunate, really, for a country that only a century ago was the pre-eminent superpower. Yet on a closer look, I'm not sure this clapback was even warranted. The problems with the UK in the last decade are fortunately or otherwise, well documented on the internet, including but not limited to the Daily Mail. What was the point of the "hit back"?And for the alleged "sneer", some parts of the article appear to be implicit acknowledgment to the PAP's strengths over the years. In fact, almost an entire paragraph lists the expected positive aspects of LW, stating: "Promisingly, two years ago Mr Wong led a consultative initiative, known as Forward Singapore, that sought opinions among citizens about such issues as raising taxes on the rich and strengthening social welfare. The mild-mannered Mr Wong is more relatable to Singaporeans than most of the governing elites. The guitar-strumming, self-confessed nerd brought up on an East Coast housing estate did not go to any of the elite schools that thepaphigh-flyers often judge themselves by. To many, that is a plus." For the Economist to say this is practically almost a glowing review of LW as Singapore's next PM.What the article clearly does do is that it has somehow decided to make certain comments or observations and single out Shan directly, which the latter ostensibly has taken issue with and characterised them as a "sneer' against Singapore in general. In fact, much of Shan's "hit back" at the Economist seems to be quite a bit of a condescending sneer (one may even argue that it is petty behaviour) itself to the UK. Is that the most appropriate conduct for a Law Minister of Singapore? I don't believe so. In comparison, I don't recall any news in our mainstream media about similar "hit backs" when the government representatives of a particular country has at times made negative comments directed at Singapore.EDIT: The "exhibit" can also be found at https://archive.is/GRHBs for those who encounter a paywall on the Economist URL.

4