Singapore’s hawker centres are unlikely sources of investing wisdom. There are 110 such establishments on this island. Every day, over three million people savour a wide range of dishes. Choices range from roti prata to Hokkien mee.
Hawker centres make Singapore one of the world’s cheapest cities for eating out. A plate of chicken rice costs $4, almost half the average hourly wage in Singapore. In London, an average meal costs $8, which is half the average hourly wage in that city.
Exchange traded funds (ETFs) are a financial innovation that has made investing as cheap as chicken rice. Investors can hold an index fund which trades like a stock. The typical management fee could be as low as 0.02%.