Investment Banker Says £25,000 Is All You Need To Be Happy

That's if you live in London, where the cost of living is ridiculous compared to here in sunny Singapore.

Where a £3 sandwich was the cheapest thing I found for lunch while I was on holiday there after graduation in 2001.

Which means all you really need in Singapore to be happy is to make perhaps S$25,000 a year.

WHO 'DAT?

That man is a certain James Montier, global equities strategist at Dresdner Kleinwort Wasserstein, and author of several books on behaviourial finance.

(I remember calling him a year or so ago to ask him for an interview with the network I am working with - he flatly declined, saying he does NOT do interviews.)

He of course earns a six-figure salary, but that does not necessarily mean what he says is not valid.

COME ON, IS HE SERIOUS?

In a report meant for institutional investors, Montier cautions against worshipping money. The gist of it: humans get accustomed to material possessions very quickly. The curse, or blessing, depending on how you view it, of hedonic adaptation

Which says that you might get all woozy after buying that Tag Heuer watch you have been eyeing. At least, initially. But then, the watch gets scratched, or that irritating colleague of yours gets a Phillipe Patek and just starts laughing at your Tag.

THEN, HOW AH?

So instead of pining after that sports car, he suggests that one focuses on building memories. Go for that concert. Embark on a trip. The experiences you have from these activities are more likely to stay with you for life.

Is he right? There is no way of finding out unless you try it out for yourself. Too bad there is no money back guarantee though!