Invest 101, Life Stages / Personal Finance

The Average Singaporean Dream: The Realistic Version Of The Traditional 5Cs

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Many of us who grew up in the 90s are familiar with the 5 Cs—Cash, Car, Credit Card, Condominium, and Country Club. These represented the material aspirations of many Singaporeans three decades ago. While cars and condominiums remain coveted by some today, it’s fair to say that not everyone in Singapore still strives for these goals or can realistically afford to achieve them.

In a twist, we thought exploring a more relatable and attainable version of these traditional 5 Cs that the average Singaporean might aspire to today would be fun.

#1 Passive Income (Not Cash)

The average Singaporean today may prefer to have a steady stream of passive income rather than aspiring to accumulate lots of cash. This could come from property rental income, dividends from stocks, bond coupon payments, high-interest savings accounts, or even the reliable CPF LIFE monthly payouts.

Passive income allows Singaporeans to enjoy greater financial freedom without relying on active work. While many might still choose to continue working, the real appeal lies in having the option not to—a luxury that, in itself, brings peace of mind.

Read Also: 10 Popular Ways To Generate Passive Income In Singapore And Whether It Is Worth Investing In Them?

#2 A Fully Paid Up HDB Flat (Instead Of A Condo)

While owning a condominium is still a dream for many Singaporeans, the reality of rising property prices has made it increasingly out of reach for most. Even for those who can afford to upgrade to a private condominium, it may not always be the wisest financial move, especially if it puts undue strain on their finances.

A more realistic and equally commendable goal for the average Singaporean is to fully own their HDB flat—ideally a four-room or larger unit. These flats, typically around 1,000 square feet, come with three bedrooms, two bathrooms, a living and dining area, a kitchen, a yard and a utility room. Such a space is more than sufficient for a family of four or five, providing not just shelter but a comfortable place they can truly call home.

A fully paid-up home also offers a sense of security and peace of mind, giving us the freedom to enjoy our home without the pressure of debt. It is a cornerstone of financial stability and independence for many Singaporeans.

#3 Redeeming For First/Business Class Tickets (Instead Of Just Owning Credit Cards)

There was a particular fascination with owning credit cards in the past. At a time when not everyone qualified for one, having multiple credit cards was often seen as a status symbol, even if cardholders didn’t need to spend beyond the annual fees (which were usually waived anyway).

Today, however, credit cards are no longer about impressing others. Most people use them strategically for the rewards they offer. One of the most sought-after perks is earning miles with every purchase. These miles can then be redeemed for luxurious business or first-class air tickets.

While the average Singaporean may not be willing—or able—to pay several thousand dollars for a first or business-class ticket, we can still experience premium travel by redeeming the miles we’ve accumulated. It may take a few years to collect enough, but the dream of flying in style is certainly within reach for many Singaporeans.

#4 Driving A Car (Not Owning A Car)

As the cost of car ownership in Singapore continues to rise due to escalating COE prices and ARF taxes, owning a car may no longer be easily attainable for the average Singaporean. However, access to private transport remains essential for many, whether for visiting family during festive periods, providing more convenient daily transportation for young children or elderly parents, or simply driving to Johor to enjoy the favourable exchange rate and lower cost of goods and services.

While buying a new car might be out of reach for some, there are alternative ways to secure private transport to drive a car. Car rental services offer the flexibility of using a car without the commitment of ownership, and the used car market provides more affordable options for those still keen on having their vehicle.

Read Also: 5 Things To Know Before Buying Pre-Owned Cars In Singapore

#5 Community (Not Country Club)

As a young person growing up in Singapore, I never quite understood the allure of country clubs. Even in the 90s, there was no shortage of excellent restaurants where one could enjoy a good meal. And if you wanted to work out or go for a swim, there were plenty of private gyms and swimming pools around.

It wasn’t until I got older (and perhaps wiser) that I understood why people joined—and continue to join—country clubs. And no, it’s not just because they want to play golf.

Country clubs offer more than just recreational facilities and amenities. In the past, they served as places where members could entertain clients and business partners, or connect with other like-minded individuals. Membership often granted access to an exclusive community, which was a significant draw for many.

While country clubs aren’t as prestigious today as they once were, the desire to belong to a community remains strong, even for the average Singaporean. This sense of belonging drives the popularity of events like F1 and movements such as HYROX. It’s not just about enjoying the races or staying fit—though people certainly do—but rather, the appeal lies in being part of something larger and not feeling left out. People also sometimes travel because they want to be able to experience something that their friends have done.

Beyond material possessions, the average Singaporean today craves deeper connections and experiences that foster a sense of belonging. Whether attending shared events, joining hobby groups, or being part of a movement, people are increasingly seeking ways to connect with others on a personal and communal level.

Read Also: The New 5Cs: Why The Singapore Dream Is No Longer About Credit Cards, Country Clubs & Cash

Photo Credit: Image by Faizal Sugi from Pixabay

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