SINGAPORE: In the early 2000s, achieving the 5Cs—cash, car, credit card, condo, and country club membership—was considered, in Gen Z’s terms, ‘the ultimate flex.’ This checklist symbolized the height of success for many and was called ‘the Singaporean Dream.’ Today, however, this dream no longer carries the same weight.
In a Reddit discussion, many locals openly admitted that instead of fixating on the 5 Cs, they are now focusing on more meaningful goals, like achieving financial independence and early retirement (FIRE). The topic arose when a Reddit user posed the question, “Are Singaporeans still obsessed with chasing the 5Cs?” “My observation among those I know is that even though there is a minority who does, most are not hardcore chasers of the next nice condo, conti car, luxury bags and watches etc,” he added. “Some people may job hop for better pay but still value other non-material stuff like work-life balance, family time, friendships, vacations, hobbies, etc.
That’s what I see, but I’d like to hear from a wider range of opinions.” In the comments section, many Singaporeans agreed that the 5Cs have lost their appeal. They pointed out that country clubs have been irrelevant for years and that nearly everyone now owns a credit card—even those with low income.
The housing prices have also surged since COVID-19, with any decent-sized condo costing around more than S$1 million, making it unlikely that most people aim to own one. “Most are.
