Channel news Asia reported 2 days ago that the number of rich in Singapore is on the rise. It was reported that "The number of millionaires here rose by 4.5 per cent last year to about 105,000, according to the latest World Wealth Report from Capgemini and RBC Wealth Management." This means if we take a population of 5.5 Million in Singapore, there is one millionaire in approximately every 52 people. These millionaires are defined as having US$1 Million or more in investable assets.
Young people in Singapore are influenced by the prosperity of the nation and want to be part of the rich and successful bunch of people. However, many get themselves into trouble by venturing into the unknown. This can be dabbling in stocks, starting an unfamiliar business or lured by high returns investment schemes. The question is: what is real and what is myth?
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