SINGAPORE – Money is a powerful tool. It provides us security, choices and the ability to care for those we love. Yet, a person with $10 million but no time, health, or relationships may be wealthy on paper but poor in life.
Psychiatrist David Teo tells the audience at The Straits Times InvestMe dialogue on July 18 that a healthy relationship with money is not determined by how much we have. Rather, it is about whether it helps you live according to your values rather than by fear, comparison, or the need to prove ourselves.
Alfred Chia, CEO of SingCapital, says the danger is that social media constantly shifts our definition of enough, and we start comparing ourselves with the most successful 1 per cent and conclude we are behind.
Having enough is not about reaching a particular number, but a psychological state where money no longer determines our sense of worth.
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Experts stress building strong financial foundations – adequate insurance, emergency savings, and disciplined budgeting – while leveraging CPF as a core, risk-free pillar for retirement security.
Beyond numbers, ST Invest editor Tan Ooi Boon say true wealth comes from investing in yourself – your skills, income, and long-term growth.
Ultimately, financial success is not about keeping up with others, but about aligning money decisions with your own life goals.
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