Do Singaporeans have an accurate sense of their wealth and well-being?

(July 31): When V Arumugam married in 1971, he was earning $200 a month working the front desk at a hotel. A few years later, his monthly pay increased to $500.

In 1980, he bought a three-room flat in Ang Mo Kio for about $18,000, which was funded with a loan from HDB. Today, the 71-year-old lives in another three-room flat with his 68-year-old wife.

The couple live modestly and are careful with expenses, but do not feel they want for anything.

---

Related Stories

• The wealthy will shield Asian banks from Trump tariffs
• Why wealth management needs a high-touch, high-tech approach
• Private investments remain attractive among investors in Asia: Cambridge Associates poll

---