Apparently, a simple and logical explanation of my situation never goes through:
1). I have no permanent job (see here)
2). I have to "leverage up" to do my Masters first before I can get a permanent post
With such an insecure cash flow, it would be prudent to establish myself first before searching for a life partner. I still have to pay $200 a month for my Nikko AM STI ETF Invest Saver plan (I'm almost there; my annual dividends will soon be able to cover it). I've yet to look through my insurance policy and would most likely get additional coverage. This means more capital injections into my portfolio to cover the insurance premiums. In the meantime, I foresee paying for the premiums from my own pocket.
But no! These people could not take no for an answer. They try to persuade me with all sorts of reasons to get hitched. Today, I will attempt to consider an alternative solution to one of the common queries they pose: "If you don't get married, there is no one to take care of you when you grow old. So when are you going to get married?"
There are a lot of assumptions underlying that clause. It assumes that your offspring will surely become your personal dividend machine once they leave the roost. Other commercial bloggers have underscored that this assumption rests on flimsy grounds. Yes, yes, you may be a good parent, but you never know how your child will turn out in life later on, much less whether are they able to support you with a stream of "perpetual dividend" income for retirement. Anecdotally, I've seen good parents whose kids mixed with bad company and came to an unfortunate end.
Another facet of the clause implies that spouses are guaranteed to be supportive of one another. If the husband is down because of poor health in old age, the wife would be the ideal carer and vice versa. This presupposes a super solid loving relationship, where one cares for the other more than themselves. Ironically, the 2 individuals who continually field the above question to me suffer from a poor marriage, "enduring" their respective spouses with spite aplenty in their relationship. So much for support. -.-
Undaunted, they told me to marry because I'm of a marriageable age. And they want it fast! I sure ain't going to marry just for the sake of marrying. I've yet to meet Mrs Unintelligent Nerd. If I meet her, good. If I don't meet her, I could consider First REIT's nursing homes for my care arrangement instead (since I'm a unitholder :P).
First REIT has three nursing home properties in Singapore: 1). Pacific Healthcare Nursing Home (Bukit Merah), 2). Pacific Healthcare Nursing Home (Bukit Panjang), and 3). Lentor Residence.
A cursory search on Pacific Healthcare's website does not detail the charges for staying in either their Bukit Merah or their Bukit Panjang Nursing Homes. If you "seek more information", you are told to contact them.
In contrast, the Lentor Residence website is slightly more detailed.
The nursing home provides: 1). assisted living, independent living, 2). nursing home care, and 3). day care, social care.
What are the charges like? Are there any subsidies?
A minimum of $1200 per month. Okay, my distributions from First REIT is sure not going to be able to cover the monthly charges of being a resident of First REIT. >.<
What about the government subsidies? Subsidies given are based on Household Means Testing (HHMT) by MOH. As you can see in the image below, the amount of subsidy given is contingent on the Household Per Capita Monthly Income. The information could be found here.
I've also found out that all 3 nursing homes under First REIT are classified as Private Nursing Homes which are under MOH portable subsidy scheme, in a MOH article dated December 2007 (strange, can't find any more recent articles). See this link for the article. Do note that the article is found through Lotus Eldercare's website and not through MOH's website. In it, there is a breakdown of the cost by Nursing Homes in Singapore. Owing to the date of the article, I wouldn't be surprised if the information detailed is outdated.
Sooooo, staying in First REIT or marrying some random girl just for the sake of marrying? I'll do neither. :P