As a millennial, one of the most talked-about topics today is building generational wealth, particularly through crypto. Every now and then, a TikTok video would appear on my For You Page (FYP), detailing how some individuals managed to multiply their holdings by several thousand times, chasing the next big “alpha” investment. Success, as it often seems to be defined, revolves around hitting the coveted 8-figure mark. Having such an amount would be a dream for many—perhaps reflected in our national obsession with lotteries like 4D and TOTO.
However, beyond the pursuit of money—especially with the festive Lunar New Year season upon us—I’ve been reflecting on the different types of wealth that contribute to a fulfilling and meaningful life.
While financial wealth is undoubtedly important, it is by no means the only measure of success. It’s easy to get lost in the chase for more, but true wealth encompasses so much more than just the numbers in your bank account. Over time, my perspective on wealth has expanded to embrace various other forms of it—forms that I now consider just as valuable, if not more so.
The Wealth of Life
1) Health is Wealth
In 2024, I played Pickleball for the first time, the sport of the year at Providend. Thinking it was an easy-to-learn sport with a low barrier to entry, I decided to teach my family how to play as well! What followed was an unforgettable time of bonding as we discovered just how little ball sense we had. We laughed at our awkwardness and mourned the loss of a few stray balls that ended up stuck in trees (true story).
This experience taught me that health is not only about physical fitness but also about the relationships we nurture and the memories we create. It’s easy to overlook the vital role well-being plays in maintaining these connections. By staying active and engaged—whether through sports or other activities—we not only improve our physical health but also strengthen our bonds with loved ones. Health becomes a foundation for everything else we hold dear.
If you haven’t already, I highly recommend trying a new sport or activity with your family. You might be surprised at how much it boosts both your health and your relationships.
Featuring my work family at our Pickleball Tournament in November 2024.
2) Wealth of Togetherness
Family has always been a cornerstone of wealth in my life. My grandmother stays closely connected with her siblings, and every year, on the first day of Chinese New Year, some of them gather for a major family reunion. This cherished tradition serves as a powerful reminder of how essential togetherness is to building true wealth.
My extended family of three generations—my grandmother and her siblings, my mother and her cousins, and me and my cousins.
Even as our family grows, I’m incredibly grateful that everyone still makes the effort to come together annually. The time spent with relatives—exchanging stories and creating new memories—is a form of wealth that transcends monetary value. The simple act of prioritising family gatherings, whether for holidays or just because, goes a long way in fostering lifelong relationships. These shared moments are irreplaceable, and the bonds we create are the kind of wealth that lasts for generations.
3) Wealth of Experience
There’s something uniquely enriching about exploring a new city with loved ones or even rediscovering an old city with new company. Traveling together as a family often brings out both the best and the most challenging sides of our relationships. But despite the occasional squabbles, we’ve made it a point to travel together at least once a year—whether it’s to immerse ourselves in nature, experience new cultures, or simply broaden our horizons beyond Singapore’s borders.
We had to include our dog, Mochi, in our family photo in Japan.
These trips have become much more than just vacations; they’ve transformed into experiences that deepen our relationships. Traveling with family forces you to step outside of your daily routines and see the world—and each other—in new ways. These shared experiences are not just about sightseeing; they’re about connecting, learning, and creating memories that will last a lifetime.
4) Financial Wealth
Of course, I can’t conclude without addressing financial wealth. While no one can deny that money plays an important role in life, there’s also a saying that “money isn’t everything.” Many of us spend more than half our lives working, hoping to build a better future for our families. But building wealth isn’t just about accumulating financial assets—it’s about ensuring that we provide for the people we love.
At Providend, we first take the time to understand your life goals, and then your financial goals will then be one of the ways to reach those life goals. As a trusted adviser to our clients for over two decades, we take the time to understand your personal story before crafting a financial plan tailored to your family’s unique needs.
We don’t chase the fleeting “alphas” of the market; instead, we advocate for a long-term, low-cost, and diversified portfolio approach, to reach the life goals that are most important to you-what we term as your non-negotiable life goals, in the most reliable way possible.
If any of these values resonate with you, we’d love to partner with you on this lifelong wealth-building journey.
Conclusion: Building Wealth Across All Areas of Life
As you think about how to build wealth, remember to take a holistic approach. Invest in your health by staying active and engaged with those around you. Strengthen family connections by creating traditions that bring everyone together. Broaden your horizons through shared experiences that deepen relationships and expand your worldview. And, of course, ensure long-term financial security to create a legacy for your loved ones.
By focusing on all these four dimensions of wealth – health, family, experience, and financial security, you’ll build a foundation for a fulfilling and meaningful life, one that you can pass down through the generations.
What kind of legacy do you want to leave behind? It’s never too early—or too late—to start.
This is an original article written by Ang Hui Shi, Associate Adviser at Providend, the first fee-only wealth advisory firm in Southeast Asia and a leading wealth advisory firm in Asia.
If you are interested in joining our Providend Associate Adviser Programme, visit our careers page to find out more.
For more related resources, check out:
1. Health Span – The Missing Piece in Retirement Planning
2. 4 Key Lessons Learnt in Legacy Planning
3. Discovering Your “Ikigai” with Providend’s Philosophy
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