\n<\/p>\n
In the time since he retired, his biggest test came last year. He had a health shock that began with swollen feet and landed him in hospital after he fainted. He underwent 15 surgeries and was hospitalised for 62 days.<\/p>\n
He said the hospital bill came to S$146,000, costing more than his flat. But he had insurance coverage and chose the most basic ward, Class C, which meant an 80 per cent subsidy.<\/p>\n
\u201cWe only pay 20 per cent. But 20 per cent is still a lot,\u201d he said. \u201cTwo per cent was my MediSave, and 18 per cent was the insurance.\u201d<\/p>\n
While he \u201cdidn\u2019t pay a single cent\u201d out of pocket, he knows he will need to spend on his future healthcare and living costs.<\/p>\n
\u201cI want to use my money to get a maid when I can\u2019t take care of myself. And obviously, if the maid isn\u2019t good enough, I want to go into a nursing home,\u201d he said.<\/p>\n
\u201cNursing homes aren\u2019t cheap, so I don\u2019t know how much they\u2019re going to cost by the time I need (one).\u201d<\/p>\n
Lau has built a life designed to survive uncertainty. It is not an approach that will work for everyone.<\/p>\n
Writing on Facebook after his interview went viral, he acknowledged that his low-cost lifestyle is \u201ctotally opposite\u201d of almost everyone else\u2019s life in Singapore. \u201cI\u2019ve kept my secret from the public for two decades,\u201d he wrote.<\/p>\n
But he thinks his lifestyle is also \u201chigh fun\u201d, with free or cheap hobbies. And given the financial worries of today, he has shared his story.<\/p>\n
\u201cWorrying about money isn\u2019t fun. The cheapskate lifestyle is the best way to make it extinct,\u201d he declared.<\/span><\/p>\n