<![CDATA[kids of rich parents - lucky or unlucky?]]>see this post from Adam Khoo's blog...


http://www.adam-khoo.com/67/are-they-lucky-or-so-unlucky/

During the last couple of days, I visited the house of one my very wealthy clients. He bought a waterfront bungalow at Sentosa Cove and invited me and my family over for a house warming/ Chinese New Year get-to together. I must say that the bungalows there are really beautiful and amazing but I think its crazy to pay $1,300 per square foot for a 99-year leasehold property. My friend purchased a 12,000 square foot house (with a berth and yaucht attached) for a cool $14 million +. This friend of mine makes his millions as the head of investment for a financial MNC powerhouse. He makes hundreds of millions of dollars for his company, so I guess paying him a $5m annual bonus is no big deal to them.

What I found even more amazing was that there were four luxurious cars in the driveway. He drove a black Lamborghini and bought his five a BMW 7-series. When I asked what the other two cars were for, he said that he bought his 21-year old son (studying engineering in NUS) a Mercedes Benz S-Class and his 19-year old daughter (studying in a local poly) a BMW 5-series. After chatting with him for a while, I found out that his two kids carried thousand dollar handphones and would not be caught dead eating at hawker centres. At first, I thought that his kids were damn lucky to be born in such a rich family and to have such a generous father.

However, after chatting with my wife on the way back and thinking about it for a while, it dawned on me that the two kids were in fact damn sway (colloquial term for ‘unlucky’) as their dad had just set them up for a life of debt and misery. First of all, it costs about $3,500+ a month to maintain those cars (petrol + insurance + roadtax + install) and each time you send it in for repairs, the bill will easily come to $3000-$4000. Because of the lifestyle they are used to, they will only feel comfortable spending $30+ on a meal at a restaurant.

Now, the dad does not own his own business. He just happens to work for an MNC, so he certainly cannot pass his job and his huge income to his two kids. And he certainly is not going to give them an allowance after they graduate, find a job and get married. At the rate the father is spending his money, his dough won’t last very long past his retirement.

So, his kids will have to graduate and find a job like anyone else. When they get a first job, how much can they get paid? Even if he has an honors degree from NUS, the most he can hope to get is $2,500/month. With a diploma, his sis can probably only get a job for $1,800. Once they drive that BM or that S-Class, do you think they will ever drive a Toyota? Unlikely. So they will probably use up their entire salary just to pay to maintain their cars (which is a liability by the way) and run up their credit cards to the max just to finance their restaurant meals, handphone meals and Prada/ Hugo Boss fashion wear. Before they reach 25, my prediction is that they will probably be heavily in debt and untterly misrable. So on second thoughts, I think they are really unlucky… What do you think?

hmmmm....

]]>https://forum.kiasuparents.com/topic/32932/kids-of-rich-parents-lucky-or-unluckyRSS for NodeSat, 16 May 2026 02:43:41 GMTWed, 07 Mar 2012 06:25:02 GMT60<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 06:22:05 GMT]]>Tsk tsk.. lazy boy, huh? :evil:


I mean, Lazy Song... :slapshead:

😉

Psst, I sing that song (Lazy Song) out loud when I ermmm..
siam housework.. no dinner on stove.. clothes piling on the sofa..
hubs comes back n go.. I'm fine with Maggi. 😂 On good days, he'll
quip, \"Let's go Mac D everybody!\"

]]>https://forum.kiasuparents.com/post/725955https://forum.kiasuparents.com/post/725955Thu, 08 Mar 2012 06:22:05 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 06:15:53 GMT]]>

buds:
pacetone:

[quote=\"Intermezzo\"]agree with you guys.. why jump to so many conclusions and make speculations with only a superficial knowledge of the family?


if a father is successful in life, and is able to pass the right qualities and personal experience to his kids, who is to say his kids won't be as least as successful as he is?

anyway i don't think it's very nice of the writer.. to be invited to his client's house and have dinner with them and then after that wrote in his public blog that he thinks the client's children are 'damn sway'.... is that good social etiquette??
end up making himself sound rather sourgrapes only..

Fully agree with you, he sounds really sourgrapes. With such superficial
inspection of the family, he makes such remarks. :roll:

Guess he wants to be a billionaire so freakin' bad.. 🤷

http://m.youtube.com/index?desktop_uri=%2F&gl=SG#/watch?
v=9hBFci9eKnA[/quote]Eh sista,

You a fan of bruno mars? Then u and DS sure :hi5:

DS current favorite song - today I don't feel like doing anything ..... :roll:

😉

]]>https://forum.kiasuparents.com/post/725949https://forum.kiasuparents.com/post/725949Thu, 08 Mar 2012 06:15:53 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 04:57:09 GMT]]>

pacetone:
Intermezzo:

agree with you guys.. why jump to so many conclusions and make speculations with only a superficial knowledge of the family?


if a father is successful in life, and is able to pass the right qualities and personal experience to his kids, who is to say his kids won't be as least as successful as he is?

anyway i don't think it's very nice of the writer.. to be invited to his client's house and have dinner with them and then after that wrote in his public blog that he thinks the client's children are 'damn sway'.... is that good social etiquette??
end up making himself sound rather sourgrapes only..

Fully agree with you, he sounds really sourgrapes. With such superficial inspection of the family, he makes such remarks. :roll:

Guess he wants to be a billionaire so freakin' bad.. 🤷

http://m.youtube.com/index?desktop_uri=%2F&gl=SG#/watch?v=9hBFci9eKnA

]]>https://forum.kiasuparents.com/post/725863https://forum.kiasuparents.com/post/725863Thu, 08 Mar 2012 04:57:09 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 02:31:58 GMT]]>

jtoh:
concern2:

[quote=\"LOLMum\"]once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????

Um, typo error there in bold, LOL Mum? I normally don't point out these minor typos, but when it means different thing then err.... 😆

I was wondering if it was a typo or if LOL Mum meant something completely different too. 😂[/quote]
:faint: , what terrible mistake..........

it should be guy............my bad....... 🙏 please forgive Lord.

]]>https://forum.kiasuparents.com/post/725743https://forum.kiasuparents.com/post/725743Thu, 08 Mar 2012 02:31:58 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 02:05:59 GMT]]>It isn’t illegal to engage in homosexual activities in Singapore anymore right?

]]>https://forum.kiasuparents.com/post/725710https://forum.kiasuparents.com/post/725710Thu, 08 Mar 2012 02:05:59 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 02:04:48 GMT]]>

jtoh:
concern2:

[quote=\"LOLMum\"]once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????

Um, typo error there in bold, LOL Mum? I normally don't point out these minor typos, but when it means different thing then err.... 😆

I was wondering if it was a typo or if LOL Mum meant something completely different too. 😂[/quote]Hmmmm.....is that legitimate??? :rotflmao:

]]>https://forum.kiasuparents.com/post/725706https://forum.kiasuparents.com/post/725706Thu, 08 Mar 2012 02:04:48 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 01:49:52 GMT]]>

concern2:
LOLMum:

once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????

Um, typo error there in bold, LOL Mum? I normally don't point out these minor typos, but when it means different thing then err.... 😆

I was wondering if it was a typo or if LOL Mum meant something completely different too. 😂

]]>https://forum.kiasuparents.com/post/725693https://forum.kiasuparents.com/post/725693Thu, 08 Mar 2012 01:49:52 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 01:47:45 GMT]]>

LOLMum:
once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????
:rotflmao: Girl marrying a rich girl?

]]>https://forum.kiasuparents.com/post/725689https://forum.kiasuparents.com/post/725689Thu, 08 Mar 2012 01:47:45 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 01:42:14 GMT]]>

LOLMum:
once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????
Um, typo error there in bold, LOL Mum? I normally don't point out these minor typos, but when it means different thing then err.... 😆

]]>https://forum.kiasuparents.com/post/725684https://forum.kiasuparents.com/post/725684Thu, 08 Mar 2012 01:42:14 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Thu, 08 Mar 2012 01:12:05 GMT]]>once you are used to a certain type of lifestyle, it is very hard to live a different one unless it is for the better.


so must get a rich spouse to keep the lifestyle or move a notch up (even better).

thus man who wants to marry a rich girl, must either be from an equally rich family, doing very well in his work, or know how to suck up to his future father/mother in law. but be prepared to get snide remarks from everywhere. so eq and iq must be high to survivie in this kind of environemnt. also cannot hanky panky in case got kick out and have evyerhting taken away. also cannot say \"NO\" to wifey. must walk 3 steps behind her.

for girl who wants to marry a rich gal, hmmm........... :skeptical: what to look out for????

]]>https://forum.kiasuparents.com/post/725650https://forum.kiasuparents.com/post/725650Thu, 08 Mar 2012 01:12:05 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 15:26:54 GMT]]>I prefer my dad to be rich anytime in Singapore…

]]>https://forum.kiasuparents.com/post/725542https://forum.kiasuparents.com/post/725542Wed, 07 Mar 2012 15:26:54 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 13:46:51 GMT]]>This one no rocket science le. Definitely lucky. Nature and nurture in kid’s favour. In life, that’s more than half a battle won.


More options. Don’t need to worry over basic needs. And likely parents ‘have ingredients’ to have what they have. Good genes (assumption) . If the parents are emotionally grounded, and not some nouvelle rich that still need to flaunt their wealth, the kids are likely to do well.

If parents are enlightened type with nothing to prove, these kids could venture into the arts, spearhead humanitarian efforts or get involved in creative pursuits. They have time to soul search without fear of starvation. So very lucky!!

]]>https://forum.kiasuparents.com/post/725471https://forum.kiasuparents.com/post/725471Wed, 07 Mar 2012 13:46:51 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 13:30:21 GMT]]>erm


I din expect my post to reach 3 pages within a day

anyway

this is my favourite post
[quote]I still want a rich dad.......no need to buy me luxury cars or thousand dollars handphone.......just have the following:
1. give me more pocket money so that I can save and keep for rainy days
2. set up an endowment fund for me, so that I can withdraw at end of X years with more money to spend
3. buy me a property that is rented out so I can collect rental income
4. set up a stock portfolio for me so that I can get dividends.

See, with all these, it is still lucky to have a rich dad.........as long as he guides the kid to be financially savvy instead of spoiling them rotten.[/quote]Whoever wrote it, you sure are $$mart!

]]>https://forum.kiasuparents.com/post/725462https://forum.kiasuparents.com/post/725462Wed, 07 Mar 2012 13:30:21 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 12:18:54 GMT]]>The article was written in Feb 2007 whereby prices of properties weren't that high. About $500-600 psf for a suburban condo then. Maybe that's why he was shocked at the price his friend paid.


Having said that, he must have kicked himself for not having the foresight like his friend whose property would have tripled in value. And , I will not think well of a friend who bad-mouthed me on his blog after having been invited to my CNY celebration. So much for EQ. To think he's conducting classes for raising blah blah blah... :roll:

]]>https://forum.kiasuparents.com/post/725410https://forum.kiasuparents.com/post/725410Wed, 07 Mar 2012 12:18:54 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 10:46:17 GMT]]>

Pen88n:
I still want a rich dad.......no need to buy me luxury cars or thousand dollars handphone.......just have the following:

1. give me more pocket money so that I can save and keep for rainy days
2. set up an endowment fund for me, so that I can withdraw at end of X years with more money to spend
3. buy me a property that is rented out so I can collect rental income
4. set up a stock portfolio for me so that I can get dividends.

See, with all these, it is still lucky to have a rich dad.........as long as he guides the kid to be financially savvy instead of spoiling them rotten.
:goodpost:

I like :celebrate:

]]>https://forum.kiasuparents.com/post/725362https://forum.kiasuparents.com/post/725362Wed, 07 Mar 2012 10:46:17 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 10:40:23 GMT]]>:lovesite:

I really like KSP, parents here are so smart and wise :imcool:

]]>https://forum.kiasuparents.com/post/725355https://forum.kiasuparents.com/post/725355Wed, 07 Mar 2012 10:40:23 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 10:35:55 GMT]]>

jtoh:
After reading the post, I have a rather poor opinion of Adam Khoo, assuming he's the author of the post. Why pass such comments and opinions on a public blog on a 'friend' who invited him to his house for CNY. Such a poor display of graciousness. I guess the author's not going to be invited for any more CNY gatherings. 😄

Actually I am unimpressed by his many English mistakes in the article. He might have some good points about the children's ability to survive but on a superficial level since he may not know the children well. And I agree with jtoh that one does not go to another person's private space and start to pass judgement after one visit.

]]>https://forum.kiasuparents.com/post/725352https://forum.kiasuparents.com/post/725352Wed, 07 Mar 2012 10:35:55 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 10:27:07 GMT]]>After reading the post, I have a rather poor opinion of Adam Khoo, assuming he's the author of the post. Why pass such comments and opinions on a public blog on a 'friend' who invited him to his house for CNY. Such a poor display of graciousness. I guess the author's not going to be invited for any more CNY gatherings. 😄

]]>https://forum.kiasuparents.com/post/725347https://forum.kiasuparents.com/post/725347Wed, 07 Mar 2012 10:27:07 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 10:01:10 GMT]]>

violin_lover:
KSP:

I think this report is a bit shallow. They didn't share how much the dad has in his bank. Maybe is enough for the 2 kids to live comfortably for their whole life. Their mthly 2.5k is just only for the petrol lah. This is not something new. I saw ppl driving flashy cars in poly, uni and workplace too. There are a few in my current office too. Young, fresh grads drive BMW. Sometimes i ask myself why i was not born in rich family.


Agreed. I don't really trust that Adam Khoo......

Same here!

And as for whether they are lucky or unlucky, guess could be either.

Even if they have trust funds and endowments set up to supposedly last them their whole life, it might still be easily squandered away / lost thru gambling/bad investments if the kids don't figure out how to make the money last / get jobs that can pay for their future.

like others have said, it also depends on how they are brought up. the fact that the dad did not bail out the daughter and she attends poly here instead of an Aust Uni might indicate something.

There could be slightly less rich folks (say living in Tanglin instead of Sentosa Cove) who spoil their kids who grow up with a sense of entitlement and no clue how to fend for themselves... think the world owes them a living... those will be in for a hard landing one day.

]]>https://forum.kiasuparents.com/post/725326https://forum.kiasuparents.com/post/725326Wed, 07 Mar 2012 10:01:10 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 09:24:50 GMT]]>

Pen88n:
I still want a rich dad.......no need to buy me luxury cars or thousand dollars handphone.......just have the following:

1. give me more pocket money so that I can save and keep for rainy days
2. set up an endowment fund for me, so that I can withdraw at end of X years with more money to spend
3. buy me a property that is rented out so I can collect rental income
4. set up a stock portfolio for me so that I can get dividends.

See, with all these, it is still lucky to have a rich dad.........as long as he guides the kid to be financially savvy instead of spoiling them rotten.
:goodpost:

plus the connections/network that Dad will have from being the investment head of an MNC...he can easily get his kids a job as private bankers regardless of whether they have an honour degree or just diploma..

]]>https://forum.kiasuparents.com/post/725302https://forum.kiasuparents.com/post/725302Wed, 07 Mar 2012 09:24:50 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 09:22:56 GMT]]>

Intermezzo:
agree with you guys.. why jump to so many conclusions and make speculations with only a superficial knowledge of the family?


if a father is successful in life, and is able to pass the right qualities and personal experience to his kids, who is to say his kids won't be as least as successful as he is?

anyway i don't think it's very nice of the writer.. to be invited to his client's house and have dinner with them and then after that wrote in his public blog that he thinks the client's children are 'damn sway'.... is that good social etiquette??
end up making himself sound rather sourgrapes only..
Fully agree with you, he sounds really sourgrapes. With such superficial inspection of the family, he makes such remarks. :roll:

]]>https://forum.kiasuparents.com/post/725300https://forum.kiasuparents.com/post/725300Wed, 07 Mar 2012 09:22:56 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 09:13:31 GMT]]>

verykiasu2010:
what is the writer trying to say in the article ? if that is really written by him, then there is lots of half truths in it and it betrays his lack of knowledge, being shallow.


1. the rich man could have salted millions$$ away in trust funds already, what is tens of thousand$$ in expenditure ? petty cash to him

2. car installments ?? :rotflmao: :rotflmao: , c'mon, he paid cash.

3. $1200 psf is expensive ? Dr Susan Lim just sold her Sentosa house for S$39mliion !! the $14m this rich man paid for the house could have reaped him another millions$$ of capital gain....shrewd investment .....wish I got in there when first launched at $700psf ...... years ago..

4. usually people in that kind of income bracket spend only \"spare cash\" in their daily \"necessities\" like Lambo and yatch ......

kekekeke... now you've got me depressed...

]]>https://forum.kiasuparents.com/post/725291https://forum.kiasuparents.com/post/725291Wed, 07 Mar 2012 09:13:31 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 09:12:10 GMT]]>agree with you guys… why jump to so many conclusions and make speculations with only a superficial knowledge of the family?


if a father is successful in life, and is able to pass the right qualities and personal experience to his kids, who is to say his kids won’t be as least as successful as he is?

anyway i don’t think it’s very nice of the writer… to be invited to his client’s house and have dinner with them and then after that wrote in his public blog that he thinks the client’s children are ‘damn sway’… is that good social etiquette??
end up making himself sound rather sourgrapes only…

]]>https://forum.kiasuparents.com/post/725288https://forum.kiasuparents.com/post/725288Wed, 07 Mar 2012 09:12:10 GMT<![CDATA[Reply to kids of rich parents - lucky or unlucky? on Wed, 07 Mar 2012 09:04:53 GMT]]>

Angelight:
IMHO, kids born into rich families are lucky if they have parents who are wise and prudent enough to teach them the values of thrift, hard work and a charitable heart.


I know of people who are from well-to-do families but they are thrifty and humble. So it really depends on the upbringing.
:goodpost:

]]>https://forum.kiasuparents.com/post/725275https://forum.kiasuparents.com/post/725275Wed, 07 Mar 2012 09:04:53 GMT