In my previous blog, I mentioned about how to become rich in Singapore. One of my readers, Eric, replied that most Singaporeans faced the “need” to be “rich” now rather than in their fifities. While I agreed that most youth nowadays want instant gratification and quick results, I cannot agree that being rich is a “need”. Rather, the desire to be rich is a “want”, rather than a “need”. It is important that readers differentiate the difference between needs and wants. I shall proceed to elaborate.

In life, we can have many “wants”. We can desire for new and bigger cars. We can for desire designer-style apartments. We can desire to have a European honeymoon. Nothing wrong with these desires. But it is important to note that these are not essentials to our life. They are merely “wants” rather than “needs”. For example, if you need a car for certain valid reasons, …