‘You don't need to be a stock market expert to get rich' — Young Singaporean millionaire reveals how solving problems of others with AI led to his first million

Independent Singapore

8 hours ago

SINGAPORE: Ask most people what it takes to be a millionaire today, and you'll probably hear a mix of 'build an app,' 'invest in crypto,' or 'get lucky in tech.' However, for one young Singaporean millionaire, the real answer is a lot more grounded: solve the problems of others.
In a candid street interview with Asian Boss , Kevin Quah, a startup business co-founder and CEO of Tictag, a data-centric artificial intelligence (AI) company, peeled back the hood on what it actually takes to build a million-dollar business — and spoiler alert: it wasn't a trust fund, or market timing wizardry.
'I'm not a stock market expert,' he said, adding that what financially worked for him most was building something useful and meaningful, such as connecting AI with real-world, everyday needs, including empowering senior citizens, people with disabilities, and underprivileged communities. From law to launch: A major career pivot
His path to wealth started with something that looked like a detour. Initially trained in law, he did what many might consider unthinkable in a culture that prizes professional stability: he left!
'I decided I didn't want to chase the entire law rat race. I respect lawyers — my wife is one, and she's a great one — but I knew it wasn't for me,' he said. 'That was when I decided to pursue my passion in tech and AI,' Kevin further shared the reasons for his career pivot.
The big turning point also came when he realised he couldn't fulfil his vision within the constraints of a previous AI startup, probably led by someone else, so he and his co-founders decided to break out and build something of their own — not mainly for money or prestige — but more to leave a legacy.
'We wanted to find a way to connect AI with the common person and people who had disabilities or were underprivileged. We wanted to do that with AI, and we felt that we couldn't necessarily do that within the confines of the previous startup, so we set out to do our own thing and also like to build something of our own so, in a sense, maybe find a way to leave a legacy,' Kevin explained his vision. First million, no magic — just mindset
You might assume Kevin made his first million through smart investing or a viral product. Nope. It was just a mindset. Specifically, the kind of mental shift you have when you're no longer collecting a stable paycheck.
'There's no more salary. You can pay yourself a pittance to survive, but at the end of the day, the only way to grow now is not to ask your boss for a raise, but it's literally to go out there and hunt for deals. Hunt for people who will believe in you and hunt for people who will join you and help you grow this company.'
That sense of ownership and urgency, he says, was what truly accelerated his company's growth — and, by extension, his wealth. Money habits that actually matter
Despite his wealth, Kevin is no fan of reckless spending or flex culture. His parents drilled one lesson into him early on: live within your means.
'One thing that my parents have always told me is never to spend beyond your means. I've always kept that in mind. Never, never leave your credit card bills unpaid. Don't try buy something that is well beyond your status in life,' he recalled what his parents had advised him, adding that he still lives by that principle.
When asked on camera about budgeting, he admitted that though he's not much of a strict budgeter, he's far from careless. 'My wife forced me to say yes [about him budgeting], but no (he doesn't do budgeting), not really,' he laughed. 'I'm a techie, so when there's something really, really cool in the tech world, I can't resist. But I have to be careful with how we spend as well. So, again, never spend beyond means.' How to play smart in the credit card game
He also plays smart in the credit card game by using different cards for different types of purchases to maximise cashback and air miles.
'Firstly, if you're not using a credit card, that's probably a mistake. And secondly, if you're using the same credit card for everything, that's also probably a mistake,' he says. 'You're not going to maximise how much cash back or miles you get because every credit card has a limit. I do have multiple credit cards that I use for different occasions,' he added. The millionaire skill set you actually need
In a world where AI is transforming (and often threatening) the job market, what does he think young people need to stay competitive?
Two things: communication and problem-solving.
'Many hard skills can be augmented or almost entirely replaced by AI. So, it's super critical for people to retain the ability to talk to each other, to convince, and to negotiate,' he advised.
He was also quick to add that even AI tools like ChatGPT aren't magic bullets unless you know how to use them well.
'People start to lose the ability to problem-solve when they think that everything can just be solved for them through AI, but even when you're prompting ChatGPT, you must ensure that that prompt always goes in the right direction. If the answer isn't what you expect, you need to modify that and make sure whatever it's spitting (hallucinating) out to you sounds good, and then, after that, you fix whatever it has spitting (hallucinating) out to you as well,' he explained. If he lost it all (his wealth & success) today, what would he do to rebuild it?
Kevin said, 'Firstly, I would be humble. I would reach out to the network I've built over the years and see if there's something I can contribute to, at least get a living wage. And then, through that, hopefully I can build up my experience within that company, even without seniority, contribute quite a bit, and then at some point get back to doing what I do best, which is starting something cool and carrying on and building it up.' See also 7 Ways To Child-Proof Your Home Before Your Baby Arrives
So it's obvious that Kevin is not banking on luck — just experience, relationships, and resilience. And when the time is right, he'd start something new again. What about owning all that flashy stuff?
You'd think with millions in the bank, he'd be zipping around in plenty of flashy stuff, right? Well, not really. 'The most common misconception is that when you start a company like a startup, you immediately flush (get rich). That's never been the case. There's a long, long, long journey you must take before you get to the point where you're driving a BMW around,' Kevin shared the hard and painful truth of a startup business. Millionaire insights: Stay grounded, stay useful
For anyone dreaming of becoming a millionaire, Kevin's advice isn't about finding shortcuts, but rather solving problems. It's about staying focused on what matters and building something worthwhile for everyone to benefit from, so by solving real problems, the money will then follow.
So, no indeed, you don't need to be a stock market expert to make it big, but you do, indeed, need vision, purpose, grit, humility, and a willingness to start from where you are right now — even if it means building quietly while everyone else is trumpeting their so-called 'get-rich-quick' wins.
Kevin Quah's journey is proof that in today's AI-fuelled world, wealth is no longer reserved just for investors. It's also for problem-solvers, communicators, and those brave enough to leave the well-trodden path behind.
He didn't rely on investing and trading skills to succeed. He built something meaningful, stayed grounded, and placed his bet on people. And that, it turns out, is still the smartest investment of all.
And also, 'Yes, you can still become a millionaire even if you're working 9 to 5' — 30 y/o Singaporean shares how he got rich, yet doesn't own a car, and still takes public transport