Many factors can undo Singapore success story

As we mark 50 years of independence, we should be thankful for the clean, responsible and efficient leaders we have had all these years.

One can appreciate the good work done for Singapore when comparing it with the mess that pervades nations with less competent governments.

While the Singapore Government’s achievements are known worldwide, our leaders have also acknowledged older Singaporeans’ contributions to the country’s success story.

They were not rich but resilient, frugal and hard-working; putting food on the table for their families was a priority. Left out of the education loop, they ensured their children attained the best and highest level of academic qualifications possible.

Younger generations of Singaporeans have a better life. Hence, they are less thrifty, more prone to job hopping and have a higher propensity to being materialistic.

Peer pressure subjects them to a culture of conspicuous consumption and conformity to keep up with the latest trends. The challenge is to change mindsets and encourage efforts to moderate spending habits.

A rising consumerist attitude and indifference towards the value of money could derail a nation’s success and economic well-being.

Events unfolding in Greece are a consequence of its citizens living beyond their means for years. That could happen to us too.

Our Generation Y are better educated and more tech savvy than their parents. Sufficient tools are readily available for acquiring knowledge, including sensible money management techniques.

The drive to put that into practice, however, is a different issue.

For a start, they should consider allocating a portion of their income as savings for emergency needs and for their retirement nest egg. Believing that retirement is too far away to think about is unwise.

The prosperity and peace we enjoy must not be taken for granted. Many factors can undo years of good work. For example, the street protests and student uprisings witnessed in Hong Kong and the Arab Spring are recipes for failure.

So far, our Government has decisively handled potential attempts to sow discord. Identifying and isolating Hong Lim Park for protesters to air grievances under a controlled approval process was a stroke of genius.

Singapore is a tiny island-state with no natural resources but its strategic geographical location and people in government blessed with foresight. No leadership is perfect, however, because leaders are only human.

Offer constructive criticisms or opposing views if we must, but by legal and proper means.

At the same time, we must remain vigilant and not be deceived or lured into being used as instruments to bring down the government.