In today's Singapore of the Twenty-first century, Families and individuals alike are becoming increasingly affluent. Parents of today can afford the best Supertutors on the market for their little ones and they also can give their children the very best that life has to offer. Affluent parents want the very best for their children and a growing number are sending their children for holiday workshops which focus on Saving and Investing for children and how to run a mini business.

There are some techniques that Affluent parents have learnt that works very well in training their young ones into becoming upcoming Entrepreneurs and even investors. While other kids are taking a daily or weekly "Allowance" from their father, Mr Chia an Affluent investor who owns land holdings around Asia and also the father of two boys aged 8 and 11 gives them each a "salary". The boys are given a "job" which involves activities like daily monitoring of the stock prices for their "Boss" Dad and alerting him when prices fall below or exceed a certain price.  They are also tasked in planning the family's budget and receive "Bonuses" and " Commissions" for outstanding task completion which results in the family making a Profit.

Mr Chia explains with a chuckle that this was how his own father had raised him and this simple system not only creates a keen motivation in his sons to succeed, the boys also learn very early on that there is no free lunch on this earth and that they can only have as much as their own performance allows. This has created in his boys a deep sense of self motivation to succeed as the boys realise that the better their performance and the more responsibilities they incur should Dad "Promote" them, the higher their "Salaries".

Already his elder son, Jian Yuan runs an online store, breeds and sells hamsters to pet stores and have invested some of his own savings into local stocks using his dad's account. He owns blue chip counters like SingTel, Keppel Corporation and Sembawang Industries.  Jian Yuan explains that investing in Blue Chip stocks is like buying a Magic wallet. This wallet he explains, produces a Magical coin or dividend every year which adds to his "income" and enables him a higher quality of life as he escalates his networth by reinvesting his "Wealth".

When asked if Mr Chia feared if his Sons may make a mistake and lose all their savings, he grinned and told us that it would be the best if mistakes are made when his sons were young. "Mistakes tend to be less expensive and besides they will have drawn a huge lesson and conclusion from every mistake enabling them to increase their knowledge about investments."  Mr Chia pointed out, " Besides at this stage all they have is their own Ang Pow money and a few years of "Salary", imagine being 60 and losing all you have?"

Experts agree that investing and saving is best started and cultivated when young. Teachers we interviewed explain that early childhood is the best time for parents to create winning habits in their little ones by making the task they want to teach as fun as possible. Perhaps that the very reason, Mr Chia told us Successful people don't stress themselves over money but rather treated life as a fun game of Monopoly.

The above is written by a local writer Alvin who has written numerous articles for children magazines and educational features. He operates various tuition centres around Singapore and teaches children the skills to overcome challenges in school. He can be reached at magikmansg@gmail.com