Quote:
Originally Posted by Unregistered
Needless to say.. at my age of late 30s now.. I have grown wiser and not doubt people when they dare tell me their earnings. I would rather want to find out more about how they did it.
So you see...the morale of the story is ... There's always a higher mooutain to scale.. if you cannot scale that moutain, it does not mean someone else can't.
|
Ok I'll bite. How did you achieve the above?
Here's what I can assume from above;
- you graduated with a masters at about 25
- your first job paid you $2k plus
- by early 30s you earned investment income of over $40k per month (c $500k per year)
I'm a property investor and my returns are usually 4 to 6% (6% only when I am very lucky with an expat tenant) for non landed residential. So my return without loan is about 5% and about 1% after deducting loan mortgage payments.
To achieve $500k pa on a cashflow basis, I need a property portfolio of $10m (no loan) or $50m (assume 80% loan). Please correct my numbers as appropriate.
So the most pertinent question in my (very open) mind is : how do you accumulate $10m or so in cash within 5 to 7 years in order to build your property portfolio?
And assume u are about 38 now, it appears that most of this wealth accumulation happened between 1999 and 2006 (when u were 25 to 32), a time period when the Singapore residential market was effectively flat to slightly down as a whole.
I am confounded, but curious.
________________________
The Millionaire Mentor