Its actually not that impossible.

When I was an undergrad, I had to take loans for my tuition and hostel fees. Upon graduation and once I was gainfully employed, I started paying off the loan. Added to this, I was renting a room to stay and commuted to work everyday.

Along the way, I was pretty careful in the way I spent money and diverted much of what I had left over into investments instead, some with mixed results - but the important point is, I learnt. My friends were having a ball, wining, dining and holidaying in Europe and US i.e. investing in their lifestyle, whilst I led a much more modest & disciplined lifestyle and invested in income generating investments.

Today, at 40, I am happy to say that I can "retire from formal employment" and live off my investments, if required. My family and I stay in a landed property in district 10, own 3 investment properties, have more than $1 mil in our bank account, stock & unit trust portfolios, own 2 continental cars of which 1 is a convertible, are members of country clubs and best of all, we have no bank loans. We still eat at hawker centres besides the usual fine dining establishments and take an average of 3 holidays abroad each year as a family.

The idea is to save and invest as wisely as you can when you are young - the temptation to spend & enjoy is always there. Then, when you reach a certain stage of your life when you have more and are more comfortable, you can start having a more lavish lifestyle.

Nobody owes us a living. Its all a matter of choice and balance. Rome wasn't built in a day. Patience, discipline and sacrifice are indeed virtues. Everyone wants to have their cake and eat it, but that's not possible unless you have rich parents who are willing to finance you or have a very high paying job at a young age. For most, its really a matter of choice. At the end of the day, hard work, sacrifice & perseverance are necessary pre-conditions but not a guarantee for success. Well, luck and timing play a part too - but as the saying goes, fortune favours the prepared mind.