The taxi driver who took me to the airport was recently retrenched. He worked as a technician in a large beer company that merged with another company. His service was not needed as the other company also had a technical department.
His daughter worked as a flight stewardess with a budget airline. She is 24 years old and earned a monthly income of $3,500 inclusive of flying allowance. This was higher than the father's pay with 20 years of technical experience.
I was quite surprised that flight stewardess can earn so well. Perhaps, their earnings is for a short period. When they are older, they are grounded and will lose their flying allowance.
His son, who is younger, also plan to be a flight steward after completing polytechnic.
I advised the taxi driver to tell the two children to save a part of their income (and not spend all of the income). They should also avoid investing in a life insurance policy that locks up their savings for a long term and give a poor return.
I am sure that the father will find it difficult to pass my advice to them. They are likely to join 30,000 young people each year who lock up their hard earning savings to earn a poor return - while the insurance companies make humongous profits.