Thursday, January 12, 2017

Staying in First REIT or marrying just for the sake of marrying?

I must be getting old. I'm starting to get intrusive questions such as "Got girlfriend or not?", "How come you no girlfriend?", "Why are you still single?", and "Have you considered finding a girl and settling down?" In a few weeks' time, I'll once again be on the receiving end of the same old fusillade.

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


  1. Hi UN,

    Haha, when cupid shoots arrow at you, you want to siam also cannot siam :) Yeah, no need to marry for the sake of satisfying others, unless they can sponsor your cost? :)

    If they ask you why you don't have gf, you ask them to intro bf to you lah. Sure diam. If you're married and they ask you why no kids, just say you cannot get it up. Sure diam :)

  2. UN : Hahaha, very clever topic from a very serious theme about marriage and retirement. Keep going and personally think that find happiness is much more important than finding wife :-)

  3. UN, nice and interesting read.

  4. Good post!

    "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?"

    Hahaha I always laugh at this kind of logic.

    It might be cheaper to live in a nursing home or hire a helper rather than have a wife/kids. Call me sour, but I feel that chances of finding a good wife is not so high.

    1. I don't think you are being sour. I think you are being realistic given the scenario we face today.

      I share the same sentiments, though if a suitable Mrs Unintelligent Nerd candidate comes along, I wouldn't mind putting a ring on her finger. But I'm not keeping my hopes high.

  5. First Reit is positing for growth in Indonesia. They have a strong sponsor and the management is very strong. First Reit has consistently reward me with good dividends.

    1. Yup, I'll accumulate more if Mr Market allows for it :)

  6. First Reit is positing for growth in Indonesia. They have a strong sponsor and the management is very strong. First Reit has consistently reward me with good dividends.

  7. Haha, you may meet your Mrs at the First Reits "Hotel" Love is never too late :P

  8. Hi UN,

    How are you? Hope all is good.

    I do not agree that we should marry for the sake of marrying because often the marriage may turn out to be a mistake. It is better to be mentally and financially ready.

    However, I am quite traditional and reckon that marriage and children-bearing should be something joyful and not as something stressful that the contemporary society is treating them to be. This is an issue of this age in this world.

    For a man, to be a good husband and father is definitely more difficult than to be a good investor. And it is going to be 30, 60 or 100 folds more fruitful if you can seek to be a good husband and father, rather than just to seek to grow your wealth via investments.

    I had seen many examples of this in my personal life with those so wealthy but lack the wisdom of relationship management within their own life/home.

    Spending some time to understand more from those who had a good marriage may be a good way to motivate! Always look upon to those who show positive results/fruits and seek! The reverse is detrimental.

    Just my humble thoughts.

    Yes, Seek!

    1. Hi Rolf,

      It's good to hear from you again. You MIA from quite some time already.

      Yes, I agree with you that being a good husband/father is much more difficult than being a good investor.

      As of now, I don't have any "target" so to speak, so I'm just improving myself further. If have, have. If don't have, don't have. Just letting nature takes its course. :)

  9. Hi UN,

    When I first saw your title I was wondering what is the link between First reit and marrying. Your post so cute la.
    Anw can consider making full use of Gov's $$, now there's SDN credits valid till Mar.

  10. Hi Rainbowcoin,

    Wah, also got this type of lobang . Didn't know about that.

    Can consider joining their activities :P