The big moments in a Singaporean's life tend to come with big price tags. A wedding, the down payment on a first flat, a home renovation, a car and its Certificate of Entitlement (COE), a child's university education, or a once-in-a-lifetime trip — these are the goals that shape...

A S$10 million portfolio is comfortable enough to be financially independent in Singapore. At a 4% withdrawal rate it could generate roughly S$400,000 a year before tax (an arithmetic illustration, not a guaranteed return) which is far more than most households here will ever spend. The harder question is the...