To Strike It Rich, Start Out on Your Own and Do It Early
The front page story in Singapore’s largest circulation newsprint TODAY on 11 November covered a story on the growing ranks of Singapore’s rich. “So much money, so little time” stated that according to the latest World Wealth Report by Cap Gemini and Merrill Lynch, the number of millionaires in Singapore grew by 22.4 percent over the past year to hit some 55,000.
More importantly, there were two key points that emerged from the story. One, to truly get rich you need to embrace the risk of starting out on your own. Two, the increasing number of people who join the ranks of the rich are getting younger.
What does this mean to us then? I reckon the moral of the story is that to become no. 55,001 on the list you need to start out on your own, and do so early.
To read the TODAY article, click here.
Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.