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Old 03-02-2018, 12:32 PM
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"..... We will eventually downgrade when our children grow up so probably need not take 25years..."
Reality is more like this, as the children grow up, they will need more space. They are not likely to get married till they are in their late 20s or even late 30s. And some never marry. It is a fact that many adult and working children are still living with their parents.

Also being in a stable job doesn't guarantee continued employment. I have been working with the same company for over 32 years - a good example of a stable job. Yet, I have seen many colleagues leave their "stable" job. Some lucky ones leave the job for "greener" pastures, but many quit because of the stress or because of reasons beyond their control.

One moment you could be in the limelight, get good projects and attention from top management. Next moment, management team changed, and a new favorite employee takes your place and you start to fall, and then the only graceful thing to do is to leave. The job is still there and stable, but its not for you.

The secret to a secure financial future is to live within your means. Buy assets that generate income for you, instead of spending on liabilities- such as a fancy car, expensive time-share holiday chalets, big homes to stay in when a smaller would do just as well.

My wife and I do not earn good salaries as we are not in finance, but by practicing the above "tricks" diligently, my wife and I have amassed a networth of $7M+. At this point, our assets are practically self sustaining. We have been reaping and enjoying the fruits of this disciplined life when we turned 50.
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