10:50 what life is about? Ask ourselves when we hit roadblock in our life. 13:35 Learn from young people. Future trends. Build eco system around them. 16:57 Untapped market. 18:33 Relationship you make doesnt bear fruits immediately. Once deepen hard to break.
Wah! A good place to be with. Quiet. Asian will catch up very slowly. I have started my family business long time ago. I need to liquidate all the collectibles and assets. Worth over US$15m (2 generations). Others are viewing me solo starting a family business. Many locals think I am not working and view me as unemployment. I never try to explained to them. Let them think what they like.
Thanks for sharing. Actually how does family office get paid? What's the revenue streams? And how can family office compare to private wealth banking who can also offer tailored products, lower interest rates, succession planning etc.?
Matthew 6 Treasures in Heaven 19 “Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. 20 But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also. 22 “The eye is the lamp of the body. If your eyes are healthy,[c] your whole body will be full of light. 23 But if your eyes are unhealthy,[d] your whole body will be full of darkness. If then the light within you is darkness, how great is that darkness! 24 “No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money. Do Not Worry 25 “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? 26 Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? 27 Can any one of you by worrying add a single hour to your life[e]? 28 “And why do you worry about clothes? See how the flowers of the field grow. They do not labor or spin. 29 Yet I tell you that not even Solomon in all his splendor was dressed like one of these. 30 If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you-you of little faith? 31 So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For the pagans run after all these things, and your heavenly Father knows that you need them. 33 But seek first his kingdom and his righteousness, and all these things will be given to you as well. 34 Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own. Q
TBH, Family offices doesn't really add much of a value because they don't really have the expertise on growing wealth through investments which is the bulk of the main job for the family. Mostly they outsource investment to hedge funds and PEs. UHNW can just go direct to the hedge funds and PEs directly. Why bother paying these family offices (middleman) services?
Hmm...talking about this at a time where the existing capitalist system is reaching its end stage? Too many rentier class don't (need to) work as their accumulated capitals were expected to work for them...their capital were suppose to be able incentivize and employ the young.... however the younger generation is increasingly weary of the present stage of the capitalist system that they are in and does not want to participate in the rat race.....worst if they revolt. The capital forest they are in are full of giant trees leaving very little sun light for the young dwellings below...burn down the forest and start all over again? Or invent the great Reset....own nothing and be happy!
Easy to make money when you have money. The later generations earned their wealth simply be being born into the right family. The government should redistribute this wealth via the estate tax and invest this money so that every child can have a better opportunity to be the best that they can be regardless of familial wealth!
@@user-co4zy4jb3m Lots of capitalist economies do not have 0% estate tax. Why should people get rich just by being born into the right family? Wealth should be earned. That is the true essence of capitalism.
@@cathhl2440 The rich can still enjoy their wealth. If is their latter generations we are taxing. If they don't like it then they can find other places to live. Lots of places have even lower taxes than Singapore today.
