Being ‘kiasu’ is Singapore’s strong suit: Kiyosaki

Robert Kiyosaki, author of the best-selling financial self-help book "Rich Dad Poor Dad", said that being "kiasu" might be the reason why Singapore is so successful today.

In an interview with Yahoo! Singapore on Saturday, he contrasted this "scared to lose" mentality in Singapore with the mentality of other countries.

"That's really what Singapore's strong suit is — kiasu. It's in your blood. You know in Mexico, they don't have kiasu, they have Mañana, which is 'Do it tomorrow' and in Hawaii, they have 'Ain't no big thing' and they don't get anything done," he said.

Speaking at the National Achievers' Congress 2012 at the Singapore Expo, Kiyosak however, warned against complacency.

"Singapore is rich and happy at the moment and that's not good. America was like that at one point in time," he said.

When asked how to avoid getting complacent, the financial guru said, "That's why I think of myself as poor and I keep working. That's why I never think of myself as rich. I'm always in the process of getting richer."

Kiyosaki then went on to talk about how many people need a change of mindset from simply earning money to pay their bills to increasing their assets and cashflow.

"Focus on what you want to expand. If you focus on assets, your assets will expand. What people do, is they focus on expenses so expenses expand. It's like the law of psychology, you've got to change what you focus on."

At his two-hour seminar, where he spoke before 3,800 people, Kiyosaki also talked about the difficulty in getting really rich in Singapore as compared to America.

"The trouble with Singapore is it's a small country, limited land, five million people, smart and rich. That's a bad combination. That means in Singapore, you've gotta be really smart and really ambitious," he said.

The bright side, according to him, is that Singapore is great for business because of its "secure environment" and "secure infrastructure".

"If I were in Singapore, I would be in business, not real estate," he said. "Safety is a very important factor in money production. If you don't feel safe, you can't produce."

Commenting on the world's current economic situation, he concluded, "We have never been in this situation before. The world has never been in such a precarious situation. Anybody who says they know what's gonna happen is crazy cause at any moment, something can happen."

UPDATED (4 June: Number of attendees corrected to 3,800 people)



More From Yahoo! Finance Singapore

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Wall Street opens slightly lower as oil falls Reuters - 6 minutes ago

    REUTERS - U.S. stocks opened slightly lower on Tuesday as weak oil prices weighed on energy stocks amid fading hopes of a deal to limit oversupply. The Dow Jones industrial average was down 16.4 points, ... … More »

  • US stocks fall on lower oil, weak trade forecast AFP - 8 minutes ago

    US stocks opened slightly lower Tuesday with petroleum-linked shares retreating on news suggesting a deal of major producers to limit oil output was less likely. Dow member Chevron lost 0.7 percent and ... … More »

  • Britain's Johnson: Rude poem was not brought up in Turkey
    Britain's Johnson: Rude poem was not brought up in Turkey Associated Press - 10 minutes ago

    Visiting Turkey, British Foreign Secretary Boris Johnson said Tuesday that his hosts had not brought up the controversy caused by a rude poem he composed mocking Turkish President Recep Tayyip Erdogan. ... … More »

  • Saudis, Iran dash hopes for OPEC oil deal in Algeria
    Saudis, Iran dash hopes for OPEC oil deal in Algeria Reuters - 19 minutes ago

    Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources said the group and non-member Russia were still trying to bridge differences between the kingdom and Tehran. … More »

  • RUBBER-Tokyo futures prices after evening session September 27 Reuters - 24 minutes ago

    Following are prices for Tokyo rubber futures at the end of the Tokyo market's evening session on Sep 2016. Contract Day Volume Evening Volume * Oct 170.0 21 169.2 8 * Nov 164.0 30 163.8 7 * Dec 163.5 ... … More »

  • Wolseley to cut up to 800 jobs in tough British market Reuters - 38 minutes ago

    Wolseley, which makes about 80 percent of its profit in the United States, said the 80 branch closures would take two or three years, resulting in restructuring charges of about 100 million pounds. Half its shareholders are UK investors. … More »

  • US home prices rose modestly in July Associated Press - 49 minutes ago

    U.S. home prices rose modestly in July, pulled up by strong gains in Portland, Seattle and Denver, a private index says. The Standard & Poor's CoreLogic Case-Shiller 20-city home price index rose 5.1 percent ... … More »

  • Global markets - Europe's bank angst sours U.S. debate rally
    Global markets - Europe's bank angst sours U.S. debate rally Reuters - 55 minutes ago

    Worries about Europe's banks wrenched stocks into reverse on Tuesday and halted a surge in Mexico's peso that followed Democrat Hillary Clinton's victory over Republican Donald Trump in the first U.S. presidential debate. Europe's mood soured as … More »

  • Europe's bank angst sours U.S. debate rally
    Europe's bank angst sours U.S. debate rally Reuters - 58 minutes ago

    Worries about Europe's banks wrenched stocks into reverse on Tuesday and halted a surge in Mexico's peso that followed Democrat Hillary Clinton's victory over Republican Donald Trump in the first U.S. presidential debate. Europe's mood soured as … More »

  • Philippines suspends 20 mines for environmental violations Associated Press - 1 hour 3 minutes ago

    Philippine officials on Tuesday recommended the suspension of 20 more mines, mostly nickel producers, for environmental violations, threatening to tighten supply from the world's top nickel ore exporter. ... … More »

  • 'Operational upset' at Shell's Bukom site - spokeswoman Reuters - 1 hour 15 minutes ago

    SINGAPORE/OSLO (Reuters) - An incident at Royal Dutch Shell's (RDSa.L) manufacturing site at Pulau Bukom in Singapore on Tuesday resulted in flaring with dark smoke at one unit but it has since subsided, a spokeswoman said. Shell declined to give … More »

  • European stocks falter amid Deutsche Bank, trade worries
    European stocks falter amid Deutsche Bank, trade worries Associated Press - 1 hour 18 minutes ago

    European stocks faltered Tuesday as investors worried over Deutsche Bank's outlook, a big decline in oil prices and a sharp downgrade in global trade predictions. The reaction in markets to the first U.S. ... … More »

  • Goldman Sachs' top Southeast Asia investment banker to leave-sources Reuters - 1 hour 21 minutes ago

    The head of Goldman Sachs' investment banking division in Southeast Asia, Michael Smith, is set to leave the bank, two people familiar with the matter said on Tuesday. Based in Singapore, Smith is a partner at Goldman and also heads the bank's … More »

  • Britain's first U.S. shale gas delivery arrives in stormy Scotland Reuters - 1 hour 41 minutes ago

    Britain's first shale gas delivery from the United States sailed into a heated European political debate on fracking on Tuesday and immediately ran into its first practical problem - the Scottish weather. The huge "Ineos Insight" tanker had entered … More »

  • Shell: Fire forces closure of key oil pipeline in Nigeria Associated Press - 1 hour 44 minutes ago

    Shell says a fire has forced it to close a key oil pipeline feeding Nigeria's strategic Bonny Export Terminal, which militants attacked last week. The ongoing challenges are losing oil multinationals billions ... … More »

  • NATO says Aleppo attacks 'blatant violation of international law'
    NATO says Aleppo attacks 'blatant violation of international law' AFP News - 1 hour 51 minutes ago

    NATO head Jens Stoltenberg said Tuesday the "morally totally unacceptable" bombardment of the Syrian city of Aleppo broke international law, and urged Russia to take genuine steps to restore a ceasefire. "The appalling attacks on Aleppo have shaken … More »

  • StanChart refers alleged corruption at Indonesian firm to authorities
    StanChart refers alleged corruption at Indonesian firm to authorities Reuters - 1 hour 53 minutes ago

    Standard Chartered (STAN.L) has referred allegations of impropriety at an Indonesian power company that the bank's private equity arm invested in to the appropriate authorities, the bank said on Tuesday. The Wall Street Journal earlier reported the … More »

  • Turkey dismisses 87 spy agency staff over failed coup
    Turkey dismisses 87 spy agency staff over failed coup AFP News - 1 hour 54 minutes ago

    Turkey has dismissed 87 staff from its spy agency over alleged links to the failed July 15 coup, state media said Tuesday, in the first purge of one of the country's most powerful institutions. National Intelligence Organisation (MIT) has suspended … More »

  • Oil prices slip as hopes for a deal in Algiers fade
    Oil prices slip as hopes for a deal in Algiers fade Reuters - 2 hours 11 minutes ago

    Crude oil futures fell on Tuesday as optimism faded for an output-limiting deal from an oil producer meeting in Algeria that has so far failed to yield any agreement to curb one of the worst supply gluts in history. Saudi Arabia on Tuesday dashed … More »

  • AOL chief Tim Armstrong on the ‘concerning’ Yahoo hack and how he’s convincing workers not to leave post-acquisition
    AOL chief Tim Armstrong on the ‘concerning’ Yahoo hack and how he’s convincing workers not to leave post-acquisition Business Insider - 2 hours 14 minutes ago

    John Lamparski/Getty Images AOL chief executive Tim Armstrong … Continued The post AOL chief Tim Armstrong on the ‘concerning’ Yahoo hack and how he’s convincing workers not to leave post-acquisition appeared first on Business Insider. … More »

  • German companies share success stories of their Malaysian ventures Business Times - 2 hours 17 minutes ago

    BERLIN: German companies have given the thumbs-up to the incentives rolled out by Malaysia, saying they have provided support to their investment story abroad. Jan J.Schmidt-Krayer, who is managing partner of Schmidt + Clemens, said the tax … More »

  • Germany blocks WhatsApp data transfers to Facebook AFP - 2 hours 19 minutes ago

    German data protection authorities on Tuesday said they had blocked Facebook from collecting subscriber data from its subsidiary WhatsApp, citing privacy concerns. Facebook and WhatsApp promised in the ... … More »

  • WTO cuts 2016 world trade growth forecast to 1.7 percent, cites wake-up call
    WTO cuts 2016 world trade growth forecast to 1.7 percent, cites wake-up call Reuters - 2 hours 19 minutes ago

    The World Trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States. The new figure of 1.7 percent, down from the WTO's … More »

  • Schaeuble stirs interest rates debate ahead of Draghi visit
    Schaeuble stirs interest rates debate ahead of Draghi visit Reuters - 2 hours 24 minutes ago

    German Finance Minister Wolfgang Schaeuble called on Tuesday for urgent structural reforms to spur growth to end the era of low interest rates, a day before lawmakers will grill ECB President Mario Draghi about his loose monetary policy. In a guest … More »

  • Singapore urged to get tougher on money-laundering
    Singapore urged to get tougher on money-laundering AFP News - 2 hours 25 minutes ago

    Singapore must take more aggressive action against complex cross-border money-laundering including prosecuting individuals and seizing illicit proceeds, a global financial crimes watchdog said Tuesday. The Paris-based Financial Action Task Force … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.141+0.003+2.17%
    N21.SI
    3.99+0.03+0.76%
    Z74.SI
    0.155+0.003+1.97%
    AFC.SI
    0.740.000.00%
    BS6.SI
    0.275+0.010+3.77%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.133+0.020+17.70%
    5PF.SI
    0.19+0.03+15.85%
    AWI.SI
    1.48+0.16+12.12%
    S91.SI
    0.198+0.020+11.24%
    M14.SI
    0.60+0.05+9.09%
    AZA.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.255-0.110-30.14%
    AZT.SI
    0.56-0.18-24.32%
    5VJ.SI
    0.395-0.070-15.05%
    K1Q.SI
    0.162-0.028-14.74%
    BGO.SI
    0.122-0.020-14.08%
    569.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3599-0.0003-0.02%
    USDSGD=X
    1.5259-0.0044-0.29%
    EURSGD=X
    1.7649+0.0021+0.12%
    GBPSGD=X
    73.8180+0.094+0.13%
    SGDJPY=X
    5.7004+0.0011+0.02%
    SGDHKD=X
    3.0319-0.0023-0.08%
    SGDMYR=X
    9,524.7754-54.0469-0.56%
    SGDIDR=X
    4.9027+0.0009+0.02%
    SGDCNY=X
    1.0414+0.0028+0.27%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,332.30-11.80-0.88%
    GCZ16.CMX
    19.28-0.32-1.61%
    SIZ16.CMX
    93.08-1.37-1.45%
    ^XAU
    2.17-0.03-1.27%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.10-0.03
    ^FVX
    1.55-0.04
    ^TNX
    2.28-0.05
    ^TYX