4 reasons why it's OK you are never going to be a millionaire

There are 154,000 millionaires in Singapore, according to a report from last November.

That means 1 in 35 Singaporeans is a millionaire. Their number has jumped by 17 per cent from 130,000 in 2010 to the current 154,000. Becoming a millionaire in Singapore obviously isn't the easiest thing to do, but yet, it is many Singaporeans' dream to become one. Is the incessant chase after such a status worth it?

Sure, being rich opens you up to a world filled with tons of privileges and luxuries, but not being able to reach a million shouldn't make one's life miserable. On the contrary, it is OK even if you are never going to be a millionaire.

We at GET.com list the top 4 reasons why it's okay to not be a millionaire ever, simply because life has so much more to offer.

4 reasons why it's Ok you are never going to be a millionaire

1. Your success isn't necessarily tied to how much you make

Success in life comes in many shapes and forms. You don't need to have to make a million before you are considered successful. Set smaller financial goals or set different milestones altogether.

We all are probably our harshest critic and that can be a good thing if we know where to draw the line. Our success isn't necessarily based on how much we're making, so long as what we are doing brings joy to us.

Why it's OK you are never going to be a millionaire

  • There are 154,000 millionaires in Singapore, according to a report from last November. That means 1 in 35 Singaporeans is a millionaire.
  • Becoming a millionaire in Singapore obviously isn't the easiest thing to do, but yet, it is many Singaporeans' dream to become one. Is the incessant chase after such a status worth it?
  • Success in life comes in many shapes and forms. You don't need to have to make a million before you are considered successful. Set smaller financial goals or set different milestones altogether.
  • You really don't need to make a million just so you have a comfortable life. In Singapore, while education isn't free like in many other countries, the school fees from tertiary school to university aren't as exorbitant as say, in Australia or the top schools in America.
  • The same goes for decent healthcare. As long as you have adequate medical insurance, you don't have to worry about not being able to receive good healthcare.
  • Do the things you love, chase your dreams, travel round the globe, save the world, be a superhero, go on missionary trips or even commit yourself to regular volunteering - do whatever it takes to keep yourself fulfilled, healthy and happy.
  • Being stuck in the rat race willingly and consciously is a terrible thing if that is your one and only goal in life.
  • There's just so much more to living the moment than letting the obsession with getting rich hamper your day-to-day living, your health, your well-being.
  • Your true friends and family are going to be there for you whether you're rich or poor or anywhere in between. You don't have to prove how fat your wallet or bank balance is to anyone because those who matter don't mind.
  • We may live in a nondescript HDB flat that is far off the fancy spectrum but we may have a cosy home where we can always return to at the end of the day. Can't afford a new car? Well, there's always the MRT and taxis, even if they aren't perfect.
  • Sure, being rich opens you up to a world filled with tons of privileges and luxuries, but not being able to reach a million shouldn't make one's life miserable.

Nobody is putting a gun to your head to make yourself scrutinize your every step and development that you're making, how much you're earning compared to other people - so shut that inner voice in your head that keeps telling you how inferior you are compared to others.

As long as you give your best, you don't have to let destructive thoughts drown you.

2. You won't be deprived of good education and good healthcare

You really don't need to make a million just so you have a comfortable life. In Singapore, while education isn't free like in many other countries, the school fees from tertiary school to university aren't as exorbitant as say, in Australia or the top schools in America.

The same goes for decent healthcare. As long as you have adequate medical insurance, you don't have to worry about not being able to receive good healthcare.

3. Living life to the fullest doesn't require having millions

Do the things you love, chase your dreams, travel round the globe, save the world, be a superhero, go on missionary trips or even commit yourself to regular volunteering - do whatever it takes to keep yourself fulfilled, healthy and happy.

Being stuck in the rat race willingly and consciously is a terrible thing if that is your one and only goal in life. Life isn't just all about money, even though money is undeniably part and parcel of life. There's just so much more to living the moment than letting the obsession with getting rich hamper your day-to-day living, your health, your well-being.

Top 10 cities the world's super rich live in

  • Most foreign buyers from: UK
    Average age: 60
    Top industry: Finance
    Top hobby: Art
  • Most foreign buyers from: India
    Average age: 57
    Top industry: Finance, Banking & investment
    Top hobby: Real estate
  • Most foreign buyers from: China
    Average age: 58
    Top industry: Real estate
    Top hobby: Real estate
  • Most foreign buyers from: United Kingdom
    Average age: 58
    Top industry: Media, sports & entertainment
    Top hobby: Art & film
  • Most foreign buyers from: UK, Australia and India
    Average age: 56
    Top industry: Technology
    Top hobby: Technology
  • Most foreign buyers from: Domestic
    Average age: 64
    Top industry: Non-profit and social organisations
    Top hobby: Politics
  • Most foreign buyers from: Indonesia, China and India
    Average age: 59
    Top industry: Finance, banking & investment
    Top hobby: Real estate
  • Most foreign buyers from: Domestic
    Average age: 62
    Top industry: Oil and consumable fuels
    Top hobby: Hunting
  • Most foreign buyers from: Domestic
    Average age: 56
    Top industry: Industrial conglomerates
    Top hobby: Health & wellness
  • Most foreign buyers from: China
    Average age: 62
    Top industry: Textile, apparel & luxury
    Top hobby: Art
  • Although there are few ultra high-net-worth (UHNW) individuals based in Singapore, the amount of real estate owned by the super rich is significant.
  • Singapore's foreign UHNW property owners were found to be mainly from Indonesia, China and India.
  • Wealth-X credits Singapore's popularity to its low interest rates and stable political, social and economic climate. UHNW individuals also choose Singapore for the availability of good education and a safe environment for children. Furthermore, Singapore is a strong rival to Hong Kong as Asia’s financial hub
  • According to the report, more than 6 per cent of the world's UHNW population have relocated to a different country from which they were born.
  • As they take their businesses across borders, more UHNW individuals are also moving to the East. They are also choosing to buy property in famous and posh vacation spots.
  • Concentrated business environment, English proficiency and high living standards are among the reasons UHNW individuals choose to buy a home in a foreign land.
  • The average age of China's UHNW buyers is 52, and 89% of them have self-made wealth.
    Real estate is the most common hobby among China's UHNW.
  • Russia's UHNW buyers are also 52 years of age on average. The global average is 59.
    They prefer buying homes in niche locations like the Caribbean and Monaco. Their preferred hobbies are travelling and real estate.

4. Those who mind don't matter

Your true friends and family are going to be there for you whether you're rich or poor or anywhere in between. You don't owe anyone a living and you definitely don't have to prove how fat your wallet or bank balance is to anyone because those who matter don't mind.

Stop and smell the roses

YOLO (you only live once), so why make yourself so stressed over reaching the seemingly magical 7-figure sum?

We should be thankful and grateful for life and everything that it entails, even if it means we're never going to be a millionaire.

We may live in a nondescript HDB flat that is far off the fancy spectrum but we may have a cosy home where we can always return to at the end of the day. Can't afford a new car? Well, there's always the MRT and taxis, even if they aren't perfect.

And if you need any more consolation, the majority of us Singaporeans won't be millionaires, so we've got good company indeed.

Rich S'poreans prefer to stash their wealth in cash

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