Is Singapore a country worth living (part 3/ last part)

After knowing about all the major aspects about living in Singapore in part 1 and part 2, it now becomes easier to judge whether Singapore is worth living. I believe it depends on your situation.

  1. If you already have a Singaporean PR:
    • Yes, Singapore will be a great place to live.
    • You can start to think about settling down, buy an HDB and raise your family.
    • Singapore is only two-hour-flight away from Vietnam so it’s not only easy for you to visit your parents and friends back home but also for them to come see you as well, especially when you have a baby.
    • After living in Singapore for several more years under PR, it’s possible to apply for citizenship which brings significant benefits:
      • You have higher priority in the queue for buying HDBs, applying your kids to public schools, etc.
      • You pay much less for education and medical expense compared to a PR or a foreigner.
      • You pay much less when renovating your HDB.
      • You have access to one of the most powerful passports in the world.
      • There may be more but these are what I know as of now.
    • The downside is that you have to contribute to the CPF every month, about 15-20% of your salary. You cannot withdraw and can only use it to buy an HDB, a car, or some investment products. It’s not a problem if you decide to live in Singapore for long terms. It will only become a problem when you decide to leave Singapore and revoke your PR status, you will get your fund back but you will be added to the Singapore black list, which will make it harder to apply for PR again should you change your mind.
  2. If you’re an undergraduate:
    • Yes, Singapore is worth living, but maybe for a short term while studying.
    • After graduating, it will be tough to find a job in Singapore because the job market is extremely competitive, and not every company is happy to sponsor visas for a foreigner. They would rather hire a Singaporean instead.
    • If you cannot find a job before your student visa expires, you have no way but to leave Singapore.
    • If you can find a job, you are in a good ship. Now you can read the next point.
  3. If you’re a working professional:
    • Yes, Singapore is worth living, but nothing is permanent.
    • As I mentioned in the previous article, it’s extremely hard to obtain a PR these days. You can work here for 3-5 years and then try your luck applying for a PR but if it’s not approved, you may feel stuck.
    • Due to the volatility of the market, there’s a chance that you may lose your job some day. In that scenario, you have to either find another job immediately or have to leave Singapore within a month. That’s a big uncertainty to live with.
    • You may not want to invest in anything in Singapore for the long term like buying a condo, a car, investing in stocks, etc. because you know that some day you will have to leave.
  4. If you have kids or plan to have kids:
    • Maybe. You need to consider carefully.
    • Singapore has one of the most advanced education and medical systems in the world so raising your kids here is a big gift for their future.
    • However, it comes with a huge cost.
      • The cost of delivering and raising a baby is expensive in Singapore.
      • It’s hard for a foreigner to apply his/her kids to a public school because the priority goes to citizens and PRs first. Hence, many foreigners have no way but to send their kids to private schools instead. The tuition per month there may exceed your rent and will minimise your saving.
    • In case you lose your job or move to another country, your kids have to say goodbye to their friends and teachers too. That can be disheartening and disruptive to their learning.
  5. If you plan to come back to Vietnam in the future:
    • Yes. Singapore will be a great place to learn and earn.
    • Since you will be able to save a lot of money in Singapore, you can start to invest back to Vietnam: buying properties, apartments, investing in various products, etc. Basically, you can build your nest in Vietnam for your early retirement.
    • Because of your experience working abroad, when coming back to Vietnam, you have a higher chance to hold a more senior position in a company which will further boost your career and impact.
  6. If you plan to immigrate permanently to a foreign country (other than Singapore):
    • Yes. Singapore is still a great globalised environment to live and work.
    • You get to meet people from all parts of the world. You gain more perspectives and make more international friends.
    • Your English will become better. You won’t have much trouble moving to another English-speaking countries like US/UK/Australia/New Zealand/Canada.
    • Working in Singapore also gives you more credits and can potentially help you land a job in another country.
    • You have a sufficient saving to support your immigration adventure, to start your new life in a new country.

How about me?

To be honest, I’m not comfortable sharing my future plan as of now.

I hope by reading about all of these situations, you will have an answer for yourself.

Please feel free to ask me any questions.

Related Posts

Is Singapore a country worth living (part 2)

Is Singapore a country worth living (part 1)