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Wealth Creation With Property Wealth Planning

For those of you who are not familiar with Singapore, here are some interesting facts. Just 70 years ago, we were a third world country, war torn from World War II. When our British colonial masters left after the war, everyone predicted that Singapore would NOT survive. We had no natural resources (no oil, no gold, no water, no land- a tiny island of 720 km squared... 1 hour drive from one end to the other). We were made up of a population of uneducated immigrants from China, India and Malaysia. How did we transform from a tiny impoverished island into one of the richest countries on earth? It did not happen by chance! It happened because we had a visionary team of leaders who inspired a nation to dream big and to develop a culture of being the best in everything and anything. They had radical policies of making English the first language (when no one spoke it), they invested heavily into education, they made every citizen save at least 40% of the income every month, we modeled and implemented best practices from first world countries. We modeled the Swiss banking system. We modeled the British legal system. We modeled American and Japanese Business models and we modeled the Israeli defence system. Today, more than half of Singaporeans invest in the stock markets and own real estate. As a result, almost half the adult population is among the world’s richest 10% and the average citizen has at least US$300,000 in savings. What lesson can we learn from this as individuals? Even if you are born poor, with no natural talents or abilities, you CAN transform yourself to be more successful and wealthier than the people around you who may have been endowed with more innate talent and resources. Your success in life will not happen by chance. It will happen if you dare to dream big and beyond your current circumstances. It will happen if you develop a mindset of always wanting to be the best and to do your best. It will happen if you invest your time and energy into education and modeling the best skills, strategies and habits from role models around you. When I was 13 years old and read the history of my country, Singapore, it taught me these lessons and I decided to implement the same lessons in my own life. It is the Singapore spirit that I credited for helping me become a player in the world stage in my own career as well.

AK