By guest contributor Gerald Tay

Years ago before the passing of my late multi-millionaire grandfather, I had the fortune of frequent conversations and debate on investment and wealth with him. Although I missed him after his passing, his simple teachings had taught me many vital lessons on wealth.

Is it important to know your Net Worth?

Me: “Do you know your Net Worth and how much are you worth today?”

Grandfather: “I don’t know and I don’t care.”

Me: “I don’t understand. Why don’t you care and want to know your Net Worth? Isn’t that what defines you and makes you so rich today? ”

Grandfather: “Young man, how do you grow a healthy apple tree that can produce many juicy apples for you?”

How to grow an apple tree

I know my grandfather will always give an anecdote to his teachings.

Me: “You need to first ...