I think what he probably meant was that a 7% annual return is not that easy to achieve lah. dont take it too hard. but i do think he has a misconception about millionaires. There are many millionaires in Singapore. Just look at this BT article. over half a million of locals are millionnaires. It's no big deal man.

s://.businesstimes.com.sg/wealth-investing/robust-increase-in-ultra-wealthy-individuals-in-singapore-and-globally-in-2021