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New Straits Times
3 days ago
- Health
- New Straits Times
MONEY THOUGHTS: Aspirational Wealth
HAVE you ever wondered why and how voids drive values? If we suffer from a scarcity of health or time, most of our days are spent fixating on those lacks or, if you prefer, the "voids" in our lives. However, once we have overcome those challenges, our season of want (regarding those essentials) ends and stress levels fall. Might this also apply to monetary wealth? Going back centuries, the semantic root for the English word "wealth" stems from old words for "well-being", namely "wela" and later "weal". This reinforces the idea of holistic wealth — that for us to be truly wealthy, all facets of our overall being should "be well", hence the focus on "well-being". Nonetheless, "wealth" today almost always refers to material or monetary plenty. All my life I have been fascinated by money's divergent effects upon people, families and even whole countries. Consider this: A severe lack of personal wealth means impoverishment, while having enough of it, often, supports a contented lifestyle. Tragically, though, too much wealth sometimes leads to arrogance; a smug, inconsiderate ignoring of the plight of the less fortunate; and possibly self-destructive behaviour ranging from individual drug and alcohol abuse, to nations waging war and building weapons of mass destruction. Conversely, great wealth in the hands (and portfolios) of good people can catalyse a cascade of bounty to the world at large. (Consider Bill Gates' goal to eradicate malaria — for elaboration visit — as just one out of millions of disparate initiatives worldwide by caring human beings to make life on Earth better for everyone.) FOR GOOD OR EVIL So, considering how wealth may be used for good or evil, it is obvious that it is a magnifier which enlarges a person's (or a company's or a country's) capacity to do good things or bad things. (Note: More than two dozen years ago, when my wife and I incorporated our small company, in April 2001, the name we intentionally picked for this business vehicle was RD WealthCreation Sdn Bhd.) At its crux, wealth today stems from rising productivity, commonly achieved by harnessing human teamwork and digital technology. If you're interested in my daily work as an LFP (a licensed financial planner) who focuses on retirement funding solutions embedded within a holistic financial planning practice, you can imagine how often I use the word "wealth" (too often to keep track) when consulting with existing clients, onboarding new ones onto my practice, speaking to public and corporate audiences about financial planning, and writing about this crucial aspect of human life. Yet even as I return time and again to the importance of building wealth, I always reiterate that money is NOT the most important thing in life. MEASURED IN TIME Most of us already know that. However, we often tend to forget that truth during our exhausting, exacting trek on life's upwardly inclined treadmill. That's why financial guru Robert Kiyosaki's assertion that true wealth is, ironically, not measured in dollar terms but rather in time, rings so true to me. You'll better appreciate Kiyosaki's incredible insight if you first mull over one piece of advice from the ancient Roman stoic philosopher Epictetus, who lived about 1,900 years ago, only a few decades after Jesus Christ traversed the dusty plains of Judea. Epictetus declared, "Wealth consists not in having great possessions, but in having few wants." His first two decades of life were as a slave in Rome during the reign of the mad emperor Nero. Now, please reread what Epictetus said, really focusing on his words. After that, we can circle back to Kiyosaki's assertion that wealth should be measured in time. To illustrate this, let's consider two men whom we'll call Adam and Zeke. Both have just retired and so no longer earn money from active labour. To simplify things further, we will assume they have both parked their respective nest eggs in a savings instrument that exactly matches their personal inflation rates. If Adam spends RM5,000 a month in his first year of retirement and has a starting nest egg of RM500,000, he'll run out of money — compensating for inflation — in 100 months or eight years and four months. And if Zeke spends RM20,000 a month in his first year of retirement, then even if he has RM1 million, his money will only last 50 months, or four years and two months. So, by Kiyosaki's interesting yardstick of measuring wealth in time — specifically the amount of time their money will last them, although Adam really has only half the money Zeke possesses, RM500,000 versus RM1 million, Adam is actually twice as wealthy as Zeke because his pile of wealth will last twice as long, eight years and four months versus Zeke's four years and two months. Do mull on that. Then spend the coming week figuring out how wealthy you are, not in terms of dollars or ringgit, but rather in time. Next week I will take things further and explain how we may generate infinite wealth (measured in years) even though our actual pile of wealth (measured in RM) is decidedly finite. Till then, do also focus on enhancing your overall well-being. © 2025 Rajen Devadason
AFP
7 days ago
- Health
- AFP
Bill Gates' trip to Singapore falsely linked to 'vaccine mandate' claims
"Singapore passes law to mandate vaccines and jail the unvaccinated -- days after Bill Gates' high-level visit," reads a May 12 post by an Australia-based Facebook page with more than 9,000 followers. The post links to an article with the same headline on "The People's Voice", a dubious website which AFP has repeatedly fact-checked for amplifying Covid-19 misinformation. The site has also previously claimed Gates and the World Health Organization (WHO) were "forcing vaccination", which AFP has debunked here. "Just as Bill Gates and the WHO's Tedros Ghebreyesus wrapped up high-profile visits with the nation's top leaders, sweeping changes were quietly pushed through the country's legal system—changes that now make it a crime to refuse mandatory government vaccines," reads the article, calling the timing "impossible to ignore". Image Screenshot of the false Facebook post, captured on May 29, 2025 Other posts claiming Singapore would mandate vaccines also appeared on X, Facebook and TikTok. But Singapore's Ministry of Health told AFP the claims are false. "Singapore has not passed any laws on vaccinations after Mr Gates' recent visit to Singapore," the ministry said in an emailed statement on June 3. re on May 5 to announce his philanthropic Gates Foundation would be opening an office in the country (archived link). The Straits Times and Forbes also reported the announcement (archived here and here). Low likelihood of vaccine mandate A number of the false posts referenced Sections 47, 65, and 67 of Singapore's Infectious Disease Law (archived link). The provisions state that the director-general of health may direct "any person or class of persons not protected or vaccinated against the disease to undergo vaccination" when "an outbreak of an infectious disease... is imminent" and "it is necessary or expedient to do so for the securing public safety". "The authorities must show these two requirements are satisfied before they can impose any vaccine mandate," Eugene Tan, an associate professor of law at Singapore Management University, told AFP on May 29 (archived link). Penalties for failing to be vaccinated under the amendments would include a fine of up to 10,000 Singapore dollars (around US$7,760) and a prison term of up to six month for the first offence, while a second offence would see the punishment doubled. Tan said the penalties, however, would only apply when a vaccine mandate is in place, though the "likelihood of such a scenario is very low". He added that the statutes within the law make a blanket vaccine mandate "highly exceptional because they are severely intrusive and people cannot be compelled to be vaccinated". More of AFP's reporting on health misinformation is available here.
Yahoo
7 days ago
- General
- Yahoo
Bill Gates' trip to Singapore falsely linked to 'vaccine mandate' claims
"Singapore passes law to mandate vaccines and jail the unvaccinated -- days after Bill Gates' high-level visit," reads a May 12 post by an Australia-based Facebook page with more than 9,000 followers. The post links to an article with the same headline on "The People's Voice", a dubious website which AFP has repeatedly fact-checked for amplifying Covid-19 misinformation. The site has also previously claimed Gates and the World Health Organization (WHO) were "forcing vaccination", which AFP has debunked here. "Just as Bill Gates and the WHO's Tedros Ghebreyesus wrapped up high-profile visits with the nation's top leaders, sweeping changes were quietly pushed through the country's legal system—changes that now make it a crime to refuse mandatory government vaccines," reads the article, calling the timing "impossible to ignore". Other posts claiming Singapore would mandate vaccines also appeared on X, Facebook and TikTok. But Singapore's Ministry of Health told AFP the claims are false. "Singapore has not passed any laws on vaccinations after Mr Gates' recent visit to Singapore," the ministry said in an emailed statement on June 3. The billionaire was in Singapore on May 5 to announce his philanthropic Gates Foundation would be opening an office in the country (archived link). The Straits Times and Forbes also reported the announcement (archived here and here). A number of the false posts referenced Sections 47, 65, and 67 of Singapore's Infectious Disease Law (archived link). The provisions state that the director-general of health may direct "any person or class of persons not protected or vaccinated against the disease to undergo vaccination" when "an outbreak of an infectious disease... is imminent" and "it is necessary or expedient to do so for the securing public safety". "The authorities must show these two requirements are satisfied before they can impose any vaccine mandate," Eugene Tan, an associate professor of law at Singapore Management University, told AFP on May 29 (archived link). Penalties for failing to be vaccinated under the amendments would include a fine of up to 10,000 Singapore dollars (around US$7,760) and a prison term of up to six month for the first offence, while a second offence would see the punishment doubled. Tan said the penalties, however, would only apply when a vaccine mandate is in place, though the "likelihood of such a scenario is very low". He added that the statutes within the law make a blanket vaccine mandate "highly exceptional because they are severely intrusive and people cannot be compelled to be vaccinated". More of AFP's reporting on health misinformation is available here.
AsiaOne
03-06-2025
- Health
- AsiaOne
Online claims about Covid-19 autopsy and vaccination laws are false: MOH, Singapore News
The Ministry of Health (MOH) has clarified false claims circulating on social media platforms regarding alleged Covid-19 autopsy findings and vaccination laws in Singapore. In a press release on Tuesday (June 3), MOH said that misinformation from 2021 — involving false claims that Singapore is the first country in the world to perform an autopsy on a Covid-19 body — has resurfaced. The message, initially spread through Whatsapp, also claimed that autopsy results revealed that Covid-19 does not exist as a virus but as a bacterium. MOH said that those claims are false, as previously clarified in 2021. "Singapore has not performed such an autopsy, and it is also not true that Covid-19 is caused by a bacterium," the release said. MOH also addressed new social media posts claiming that Singapore has enacted laws to mandate vaccines and jail unvaccinated individuals following Microsoft co-founder and philanthropist Bill Gates' recent visit to Singapore in May. "Singapore has not passed any laws on vaccinations after Mr Gates' recent visit to Singapore," MOH said, refuting the false claims. MOH reminded members of the public not to spread misinformation, and to visit for the latest information. [[nid:718575]]
Geek Wire
15-05-2025
- Business
- Geek Wire
Bill Gates' pledge to give 99% of wealth to global health foundation could leave climate in the cold
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE Bill Gates and Rodi Guidero, executive director of Breakthrough Energy, speak at the Breakthrough Energy Summit in Seattle on Oct. 18, 2022. (GeekWire Photo / Lisa Stiffler) Bill Gates' announcement last week that he would give 99% of his wealth to the Gates Foundation was a shot in the arm to the philanthropy's focal areas of global health, educational access and agriculture. But to some proponents of climate action, it felt like a slap in the face. For the past decade, the Microsoft co-founder has been publicly championing climate issues. He published the book 'How to Avoid a Climate Disaster.' He led the creation of Breakthrough Energy Ventures, a climate tech investment fund that coalesced support from ultra-wealthy investors worldwide. That effort grew into the Seattle-based Breakthrough Energy umbrella organization, which has hosted two climate conferences featuring global leaders, most recently in London last year. Global warming was among Gates' priorities, stoking enthusiasm and drawing interest to the planet's existential crisis as carbon emissions and temperatures keep climbing. Recently, his interest seems to have cooled a little. Earlier this year, Breakthrough Energy scrapped its U.S. climate policy team, its European team and employees working in partnership with other climate groups, as reported by The New York Times in March. A week ago, Gates shared that nearly all of his wealth — roughly $112 billion — would be donated over the next 20 years to the Gates Foundation, which will sunset in 2045. 'There is no way to read this but as negative,' said Susan Su, a Seattle-based climate investment partner at Toba Capital. Over the past three years, the deployment of low-carbon technologies has accelerated in the U.S. and elsewhere, addressing power production, transportation, infrastructure and other parts of the economy. Biden administration programs unleashed billions of dollars for innovation and clean energy jobs, and investors ponied up for new technologies. Charting Bill Gates' fortune, which he plans largely to give to his foundation. (Gates Foundation) Once President Trump took office in January, his team quickly began dismantling those efforts and shutting down longstanding programs for tracking, preventing or responding to climate change. The near elimination of U.S. government support makes overall progress on climate a much heavier lift. And while it's perhaps unreasonable to expect Gates to be a prominent catalyst on both global health and climate, his apparent step back nonetheless creates a gaping leadership vacuum. Su notes that the shift is particularly difficult given he hasn't provided a public explanation for the downsizing of his climate efforts. Important, impactful climate work definitely is 'still happening,' Su said, but the impression that Gates is less involved 'really hurts the ecosystem.' Anay Shah, co-founder and general partner for the climate investment firm Stepchange, is keeping the door open to Gates' climate engagement while acknowledging the significance of the foundation's news. 'If the [Gates] Foundation is going to be his major vehicle it seems less likely that we'd see a massive scale up in climate funding in the immediate future,' Shah said by email. 'The counter argument,' he continued, 'is climate affects everything, so indirectly he will continue to be addressing those issues.' A spokesperson for Breakthrough Energy told GeekWire in March that Gates' work will continue in climate. 'Bill Gates remains as committed as ever to advancing the clean energy innovations needed to address climate change,' the spokesperson said by email. 'His work in this area will continue and is focused on helping drive reliable, affordable, clean energy solutions that will enable people everywhere to thrive,' she added. Breakthrough Energy Summit 2022 panel, from left to right: Vijay Vaitheeswaran, global energy and climate innovation editor of The Economist; Jennifer Granholm, U.S. secretary of energy; John Kerry, U.S. climate envoy; Larry Fink, CEO of BlackRock; and Christoph Schweizer CEO of Boston Consulting Group. (GeekWire Photo / Lisa Stiffler) An SEC filing in July disclosed that Breakthrough Energy Ventures was raising a $839 million fund. A spokesperson confirmed at the time that a third fund was underway, but did not share details about timing or total capital raised. Gates is also a lead investor in TerraPower, a Seattle-area company that's building its first next-generation nuclear reactor in Wyoming and has intentions of deploying the devices internationally. In the Gates Foundation announcement last week, foundation CEO Mark Suzman addressed a question regarding the organization's support for climate-related efforts. 'In those areas like climate, our focus has always been in the areas of intersection where we think philanthropic capital can make the greatest difference,' Suzman said. The foundation over the years has supported innovation that aids subsistence farmers in Africa and Asia who live on $2.25 a day or less and are being hammered by floods, droughts and other disasters made worse by global warming. Suzman also said the philanthropy is paying attention to the climate-driven spread of diseases such as malaria. These strategies, however, are about responding and adapting to climate change, not preventing the warming. Gates is still speaking out on climate, calling on rich nations to reach net-zero carbon emissions. In a fireside chat earlier this month with Singapore's Ambassador for Climate Action Ravi Menon, Gates called out the need for action and proclaimed his continued belief in climate innovation. In a 2021 interview with GeekWire to promote his book, Gates made clear he believed that government support was essential in making progress. 'In the case of climate change, even the money that I have, if it was all applied in this direction — I put in $2 billion so far and I'll put in another $2 billion over the next five years — that's not enough to solve it,' he said. 'The role of high-risk investing and philanthropy and creating programs like [Breakthrough Energy's] Fellows and Ventures and Catalyst … is to start things out, but it's really government policy [that] has to carry this one.'
