Rich Getting Richer

I refer to the article in the Sunday Times ‘Some guys have all the luck’. It describes how 3 guys have won big prizes, a million dollars from the ‘Be a Changi Millionaire’, a new BMW X1 and a 900sq feet condominium, all through their good fortune when they participated in their respective contest. That got me thinking, is it right?

The definition of right is vague, some would say yes – because they legitimately participated in the contest and were lucky enough – but on the other hand is it the case of the rich getting richer? The man, who won the million dollars from the Changi contest, is pictured as humble and pragmatic, who went for an affordable fish porridge dinner with his family after winning – nothing wrong in that, I always enjoy local fare but keep in mind that he hasn’t gotten the money yet. He doesn’t want to leave the impression (on his children) that money is easy to make – like all good parents seek to do. However, I’m skeptical if it is possible. The spirit is willing but the flesh is very weak, with greater spending ability, the greater the temptation to spend. I would think that the reason why we don’t spend is the fear of not being able to afford something or the constant worry of the greater needs of the future, which might cost us a hefty sum. Take for example the huge sum we need for retirement alone, about two to three millions per person I last checked, so much for the ability to retire.

The article goes on to say that he probably intends to upgrade his three-room condominium and Honda MPV in the future when prices go down – another logical move. But now the ideas of spending starts popping out of thin air. He and his wife are intending to bring their 2 children on a long awaited planned trip to Europe, now with the money it will be much easier, but he said that “my children have never been to Europe”. His children are 12 and nine, but most kids that age have not stepped out of Asia before, let along myself in my mid-twenties. But he validates himself but saying that he and his siblings come from a generation which had to get their hands dirty in the workshop, helping their parents to earn money – they now operate a hardware business. Well most people in that generate did that because the life in Singapore was not that of current comfortable status. But wait a minute, he’s a business man who flies frequently, stays in a condominium and drives a big car – now he has won a million dollars!

So maybe the question should be is it fair? Well life is not fair and in this capitalistic world, where the spur for growth is driven by personal gains, such contests are needed. So if there is someone to blame, I would blame corporate enterprises, they encourage spending which is necessary for economic growth but perpetuates the notion of the rich getting richer. All these contest require the participant to spend a certain amount and that would entitle them to a lucky draw chance. So it is not surprising that the winner is someone who is able to spend, just like the winner in the previous draw, and I guess for the next one as well. How sad!