A thought recently occurred to me as I watched the 10th SG60 ad in a row on my TV (it’s that time of year). How did Singapore, a literal fishing village with barely any resources—turn into a global finance hub, a tech-savvy metropolis, and one of the most connected places in the world?
The only answer that came to me was that Singapore pulled off a financial masterclass of its own. It was all long-game thinking, smart use of what we had, and knowing when to play it safe or bold.
So I wondered: could we take a few of those nation-building lessons and apply them to something like our personal finances? This piece pulls together six money lessons inspired by how Singapore was built. They’re simple, smart, and surprisingly relevant—even if you’re not trying to run a country.
How Singapore Got Rich—And 6 Things You Can Learn From It
- Monetise geography—even when you don’t have resources
- Design for collective resilience, not individual optimisation
- Invest in soft power, not just hard assets
- Stay small and nimble before you scale
- Get rich with the system, not in spite of it
- Outsource risk, own the reward
1. Monetise geography even when you don’t have resources
When Singapore became independent, it had few natural resources—no oil reserves, limited land, and an unreliable water supply.
But it had one major asset: location. Strategically positioned along vital shipping routes, Singapore built one of the world’s busiest ports, developed Changi Airport into a leading aviation hub, and became a gateway for international business. It used geography as leverage, and scarcity as strategy.
Rather than focus on what it didn’t have, Singapore focused on how to position what it did.
| Personal takeaway: Don’t chase assets—monetise your position. Maybe it’s your niche skill, your network, your timing. What you have doesn’t matter as much as how you’re positioned. |
2. Design for collective resilience, not individual optimisation
Singapore didn’t build its success by focusing only on top performers. It invested in systems that supported everyone. This meant accessible housing, affordable healthcare, reliable transport, and quality public education.
These foundations weren’t glamorous, but they made everyday life more stable and gave people room to grow. The goal wasn’t to produce a few outliers. It was to raise the baseline for all.
That approach created long-term social trust and reduced the cost of inequality. By making sure more people were secure, Singapore made itself more resilient to shocks.
| Personal takeaway: Your emergency fund isn’t just for you. It’s for your parents, partner, kids. Resilience = shared security, not just personal survival. |
3. Invest in soft power, not just hard assets
Our country didn’t just invest in infrastructure. It invested in perception.
Reputation as a clean, well-governed and forward-thinking nation has helped attract global businesses, talent and long-term capital. Trust, built over decades, is a key reason why Singapore punches above its weight on the world stage.
This soft power doesn’t show up in concrete or steel, but it influences how others engage with the country. It’s what turns policy decisions into sustained momentum.
| Personal takeaway: Beyond income and assets, cultivate your reputation. Your reliability, network and professional brand often open more financial doors than raw skill. Opportunities follow credibility. |
4. Stay small and nimble before you scale
Singapore didn’t jump into large-scale, capital-heavy projects without testing the waters first. It ran policy pilots in selected towns, trialled new initiatives in controlled phases, and used feedback loops to refine its approach.
Whether it was public housing, education reform or infrastructure, Singapore took a measured approach—one that allowed it to learn quickly and scale what worked.
This method didn’t just minimise failure. It made progress more sustainable. By starting small, the country bought time to adapt and improve, avoiding the sunk costs and political fallout of failed big-scale projects.
| Personal takeaway: Test before you leap. Before taking on a major investment or big life purchase, try scaled-down versions: freelance before quitting to run a business full-time; try a budgeting method for three months before redoing your entire system. Experimentation reduces costly errors. |
5. Get rich with the system, not in spite of it
Instead of leaving individuals to figure it out alone, Singapore created policies that helped ordinary people build wealth alongside the country.
The CPF system tied retirement and housing savings to employment and wage growth. HDB home ownership allowed Singaporeans to benefit from rising property values as the economy expanded. When the nation grew, so did the personal balance sheets of its citizens.
The systems weren’t perfect, but they worked because they created alignment. Citizens who participated in these schemes were rewarded with stability and long-term gains. In short: you didn’t have to beat the system—you just had to understand it and work with it.
| Personal takeaway: Learn the rules—then use them. Maximise tax reliefs, subsidies, employer top-ups, and policy windows. There’s money lying around in public schemes. Pick it up. |
6. Outsource risk, own the reward
Singapore didn’t run its own airlines or telcos out of government ministries. Instead, it held ownership through Temasek while letting these companies operate commercially. Singapore Airlines, Singtel and DBS were run as performance-driven businesses, accountable to markets and shareholders.
Meanwhile, GIC managed national reserves globally to reduce exposure to local risks and concentrate on long-term returns.
This strategy allowed Singapore to benefit from national assets without micromanaging them or being overexposed to sector-specific volatility. Ownership stayed, but operational risk was handed over to systems designed to manage it better.
| Personal takeaway: You don’t need to do everything yourself. Use index funds to get broad exposure, insurance to transfer financial risk, systems like CPF LIFE to handle income planning. Let smart tools and structures carry risk for you—so you can focus on growing steadily, not reacting constantly. |
Closing thoughts
Our nation’s story is a masterclass in doing a lot with a little. It didn’t wait to be resource-rich or risk-proof before making progress. Instead, it focused on positioning, trust, shared resilience, and long-game thinking. The result? A country that turned strategy into strength.
The same applies to personal finance. You don’t need wealth to begin. Just clarity about what you already have and how to use it well. Maybe that’s your network, your credibility, your ability to test before scaling, or your willingness to play the long game through public systems.
Start there. Borrow what works. Build around what lasts. That’s how Singapore did it. And it’s how you can move forward, too.
Enjoyed this article? Share it with your friends and family!
About the author
Having been writing for a little over 10 years, KC has flexed his pen in a variety of industries—think automotive, fitness, entertainment, and finance. He’s ultimately on a mission to prove that any topic, no matter how serious, can be made fun.
Off-duty? It’s all about food, drinks, parties, and gaming marathons.