Your Wealthy can never last through 3 generation. Thats what many people said to the Wealthy people.

Is this just the plain truth or a myth?

Throughout they years, we have seen people from humble background stood up and transform into a muti-millionaire and pass down his empire to his son and things were going very well and smoothly.

And the problem start coming in, the moment the empire is passed on to the 3rd generation.

Problems with cashflow, creditors start knocking at the doors, and suddenly competitors start taking away all the sales that was yours...

It might sound like a typical plot from those TV serial, but thats just what really happen in real life as well.

Many analyst have placed the reason for the downfall as lack of education and experience for the younger generation.

Many people born in the rich family were so pampered that they did not experienced how it was liked to be thinking of how to saved more money.

They were not trained to have the mindset of the rich. They were given the opportunity to spend every now and then.

Nobody teaches them to be frugal, to give back to the society and train to look as problem in disguise.

All these lessons are learned only if you rise up from a humble background,and sad to say, the lessons were slowly lost as the empire is passed down from generation...

In fact, we should be glad to be living in Singapore, where the government from young has forced all those values into us, expect that we were not educated to use these into our advantage.

In school, we often have to 'clocked' a certain hours for charity work. And every year, we will need to do donation, or go to charity homes for spring cleaning, helping with the old or needy people.

Even though it was mandatory, but this if properly educated and understooded, it was meant to be giving back to the society or even help out the needy. Its a value that you must have as a wealthy person.

Which wealthy person would be looked up to, if you are a stingy person and you keep all the money to yourself, and not only that, you would do nothing to help even an old lady who have fall down in front of you?

The second value is implement the moment GST is put in the society. To many people, they see it as a cost, something which the government is increasing the burden.

Little do they know, GST is actually something which can forced you into thinking logically instead of emotionally.

Think about it for a while, does you pay GST for a saving account you open in the bank, or do you need to pay GST for starting a saving plan, even best, do you pay GST for deposit money in your CPF or investing your CPF?

Isnt that suppose to be a signal from the government?

We are charged GST based on what we spend not saved. So this society has actually make us to be more frugal, in the sense that forced us to saved more, and make us spend on those items we need just to survive. In other words, the whole policy is actually made in a way to get people to be a saver then a spender.

But sad to say, the 3rd value, looking problems as opportunity in disguise is a very hard subject to be learned, and it almost impossible to teached.

But feared not, if you know how to look at things in a light way, then congraluation, you have taken the first step to this hard to learn lesson.

End of the day, if you still believe you are living in a very harsh society, please remember the fact that the grass is greener on the other side. Rather than running away from problems, why not faced it and overcome it?