What the great wealth transfer means for Singapore’s single-digit millionaires
As with the rest of the world, Singapore’s baby boomers are beginning to hand over the torch. As a country with one of Asia’s (if not the world’s) highest savings rates, the previous generation is passing on substantial wealth to our millennials. This is amplified by Singapore’s ageing population, and it’s set to make big […]
Bonds for Single-Digit Millionaires: What You Need to Know
Single digit millionaires tend to have more types of bonds to choose from; either because you’re accredited, or have enough capital for less mainstream options. But if you’ve gone your entire life without understanding more than “buy-units-in-a-bond-fund” this can get confusing. Here’s a general snapshot of various bond types, because there’s no end to innovation […]
Common mistakes when getting a home loan in Singapore
Mortgage loans are a painfully complex mess of terms and conditions. It doesn’t help that most bankers and brokers are as engaging as watching grass die, when it comes to explaining the whole mess. Rather than give you the usual hours-long talk about mortgages, here are the main areas to focus on – the mistakes […]
How we went from riches-to-rags due to dad’s loansharking
From his childhood to his teen years, ML lived the good life. From designer sportswear, to his own car at the age of 21, it seemed like his family fortune could only grow. But his father kept a secret from the family: for several years, a portion of their wealth had come from loan shark […]
My children will not be inheriting my properties; here’s why:
For most Singaporeans, the dream is to have a property – ideally something fancy like a freehold bungalow – to pass on to their children. For Ms. KV however (she prefers that her name not be disclosed), her portfolio of properties won’t be going to either of her two children. Instead they’ll be sold, and […]
Is P2P lending a good idea for single-digit millionaires?
Don’t like equities and want absolute returns? Besides bonds, one possible option is P2P lending. The proliferation of these platforms in Singapore offers an interesting alternative to investment markets; and it can be appealing to investors who like predictable returns, but find bonds too cumbersome. But before you jump into it, consider if the implications […]
Self-care strategies for single-digit millionaires
Personal finance goes beyond numbers and charts. Unlike a company with an accounting department, we’re human beings with emotions, biases, and personality quirks. One of the key factors that interfere with investing and saving, however, is stress. Whatever its source, stress levels can cause even the most prudent investor to slip up, and turn toward […]
How to be rich without becoming evil: ethical and impact investing
Single-digit millionaires may not be at Bill Gates levels of philanthropy yet; but that doesn’t mean they can’t make a substantial difference. I’m not talking about donating a pricey piano or a library to your old school either: as a single-digit millionaire, you have portfolio options that can make a real difference to the world […]