How single-digit millionaires can make the most of their wealth
Single-digit millionaires are in an odd place: on the one hand, you have access to financial products and opportunities the average Singaporean may lack. On the other, you’re not yet affluent enough to take on many of the bigger risks. This tends to require more personalised and dynamic financial planning. Here’s what you can consider: […]
Alternative approaches to luxury watch investment
At the risk of offending some people, I’m going to say that their buying luxury watches aren’t really an “investment.” It’s a consumerist move, to make people go aaaah at whatever’s strapped to their wrist. Don’t believe me? Ask your friends who have expensive watches. What’s the last one they sold for a return? In […]
Why gold bug single-digit millionaires should care about private vaults
Some of our single-digit millionaires are, purely by dint of statistics, gold bugs. Maybe you believe the global economy is coming a fiery end, and gold is the last bastion of civilisation. Or maybe you just like diversification, and being able to physically handle the gold is more satisfying than a gold ETF. In either […]
Coded Lux: Branded stuff you buy when you’re old money
Want to really blend in with old money, or the ultra-rich? Forget the Prada and Luis Vuitton and Gucci apparel. Those are more likely to mark you as a try-hard, rather than someone with the cultural sophistication to appreciate true artisans. The upper crust of society has always sought to differentiate itself from bourgeois tastes, […]
Can barbell strategies work for your investment portfolio?
Whether or not you’ve read Nicholas Nassim Taleb (of Black Swan fame), you’ve probably come across the barbell concept. The strategy has gained prominence ever since Taleb’s book, and the Global Financial Crisis in ’08 that visibly demonstrates his point about unpredictability, and existing financial biases. While the barbell concept is more nuanced than can […]
How to prepare your child to inherit your business
If you’re a single digit millionaire, you may not have the luxury of owning multiple businesses. Indeed, it’s quite common for those in this demographic to be fully invested in a single SME, or to have themselves inherited the family business. This means handing down the torch is a delicate process: you may be passing […]
Additional money concerns for single-digit millionaires before getting married
Single-digit millionaires may be above-average on the wealth rung; but as I often point out, it’s still far from being truly affluent and secure. When it comes to a messy divorce, a billionaire losing half their assets is shocking…but still recoverable. A single-digit millionaire losing half their assets is often a permanent disaster, especially if […]
Common threats to intergenerational wealth (and how to deal with them)
When it comes to passing down your wealth, single-digit millionaires are at an inherent disadvantage. Let’s be frank and say it right now: most banks don’t consider a single-digit million to be an exciting sum of money. It’s hard to qualify for full private banking, or the kind of top-shelf assistance that a full-blown family […]