At the end of the day we all have to be realistic. I have seen this nonsense spouted by many people about how all you need to get rich & retire early is to get a stable job, save and invest wisely.
The fact of the matter is that in order to retire early comfortably and hit millionaire status outside of the home you stay in requires special actions like inheritance, start own business, very high paying job, some high risk speculation or top notch consistent investment returns. Doing things the normal way will result in a normal outcome, basically enough money for a decent retirement at age 62.
I ran a few different scenarios in our financial calculator on some typical Singapore family scenarios and it proofs the above thinking.
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Originally Posted by Unregistered
So now the story of your wealth change from returns of 5% - 10% & prudent savings to you were "lucky or blessed" and manage to make big profits from properties and a restaurant?
You claimed earlier in a nonchalant way that "There is no secret actually.Properties,blue chips,fixed income and trust funds generate the cash flow for me." Now the story appears to be that you took a big gamble and leveraged aggressively during a downturn and also dabbled in some form of entreprunership / angel capital.
Even if that's the case why mislead others into thinking that somehow by saving wisely and investing prudently one can retire with 6k passive income and millions of assets by 40? It is obvious that the bulk of your wealth comes from heavily leveraged property speculation & entreprunership / angel capital, it has little to do with blue chips, fixed income or trust funds like you claimed earlier.
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