Personal finance is a lifelong journey that evolves through new life stages and challenges. My perspective on personal finance transformed entirely when my first child was born, which coincided with the early days of SingSaver.
Suddenly, financial planning wasn’t just about me; it was about creating a secure foundation for my family. In addition, the uncertainties of building a business forced me to rethink every aspect of my financial approach, from budgeting to managing risk.
I had to quickly learn new skills, like setting up health and life insurance for my family, building an emergency fund that accounted for a child’s needs, and planning for long-term goals such as putting them through school.
Balancing personal financial stability while building a startup from scratch was an intricate and demanding challenge, but it taught me an invaluable lesson: personal finance is not a static effort. It demands flexibility and the ability to adapt to life’s shifting circumstances.
This experience reinforced my belief that personal finance is an ongoing process of evolution. Life doesn’t come with a manual and neither does managing money. It’s about making informed choices, staying curious, and adjusting to the unique challenges each stage of life presents.
How to invest $1,000,000
With $1,000,000, I’d approach the opportunity through three key lenses: investing in myself, identifying undervalued opportunities, and prioritising my children’s future.
I believe the best investment is in oneself, so first, I’d channel a portion of the funds into personal growth, whether through acquiring new skills, pursuing advanced education, engaging in executive coaching, or exploring emerging disciplines.
Beyond formal learning, I’d seek out unique experiences that enrich my perspective. Could I have an hour or lunch with an inspiring CEO or industry leader? Could I travel to new parts of the world, immersing myself in diverse cultures and ideas? These experiences are not just about personal enrichment—they expand my vision, enhance creativity, and sharpen decision-making, all of which are invaluable in life and business.
Second, I’d invest in undervalued opportunities with strong potential. This might mean supporting promising businesses, exploring niche markets, or acquiring assets where intrinsic value exceeds current perception. These investments wouldn’t just aim for returns, but reflect a thoughtful balance of risk and long-term growth.
Finally, I’d prioritise my children’s future—whether through their education or shared experiences. Creating opportunities for them to explore the world, learn, and grow would be a deeply fulfilling use of these funds, ensuring that my investments today also contribute to their tomorrow.
The potential of AI
Artificial intelligence is the most exciting and transformative technology since the smartphone, and it is poised to impact everything. Modern AI can enhance every part of our lives and improve it. Whether it’s healthcare, finance, retail, or entertainment, there’s no industry or application that AI won’t enhance.
What makes it so powerful is its versatility. It is not just about one breakthrough product; it’s about making every product, service, and system smarter and more efficient. From streamlining operations and personalising customer experiences to driving innovation in areas like healthcare and education, AI is becoming an essential building block for progress.
At MoneyHero Group, we are actively investing in AI to improve how people manage their finances. Whether it is helping consumers find the best financial products more quickly or making the user experience more intuitive and personalised, AI is core to how we are shaping the future of personal finance.
Looking ahead, the integration of AI into everyday life will continue to deepen. It’s not just changing how things are done—it is expanding what’s possible. While the potential is limitless, we are only at the beginning of this transformation.
What about bitcoin?
Cryptocurrency, especially Bitcoin, is a fascinating yet volatile asset. Often referred to as “digital gold”, Bitcoin has established itself as a store of value, but its price swings can be dramatic. If you are thinking about investing, here are a few points that you may want to consider.
First, assess your risk appetite. Crypto’s volatility may not suit everyone. Prices can soar but also drop sharply. Personally, I use the “sleep test” to guide my decisions—if holding an asset keeps me awake at night, it is not right for me. As a long-term store of value rather than a speculative asset, Bitcoin has passed that test for me.
Second, be clear about your motivations. Are you buying Bitcoin because you believe in its long-term potential, or are you chasing short-term gains? In my view, Bitcoin is an alternative asset class that aligns with a vision of financial decentralisation and scarcity.
Lastly, always consider the downside risks. Crypto space is still emerging and can be influenced by regulatory changes, market sentiment, and technological developments. Only invest what you’re comfortable losing, and ensure any investment is part of a well-diversified portfolio.
