Discovered a surprising fact from a Forbes blog post, titled Singaporeans Are The Fastest In The World To Become Millionaires:
While the popular belief is that the wealth of millionaires in Singapore has come from the dramatic rise in property prices over the years, that is only partly true. According to the survey, 72% of the wealth was made from personal investments, followed by 58% from property and 55% from savings through earning and bonuses (Respondents could choose multiple answers).
The conventional wisdom is that property is the investment to be invested in for Singaporeans (Random fact: We were once dubbed the “Silicon Valley of Property”. Cringe). However, the stats show that you just might have way better odds when it comes to personal investments.
What other Invisible Assumptions are you holding?