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Originally Posted by Unregistered
How do ppl accumulate so much net worth? So many posts of net worth in around 3 - 5m mark but with income of less than 250k. I am in my mid 30s earning around 400k a year. Savings around 200k a year. Income only reached this level about 4 / 5 years ago. Hence net worth is only around 1m. Feel that I'm stuck in the rat race sometime as I don't have enough to retire yet I can't quit as it took a lot of hardwork and sacrifice to reach where I am despite the fact that I never like my job. Such a chore sometime to wake up in the morning and drag myself to the office.
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It's largely from property investment. However, property prices are now among the highest in the world rivaling London and New York so the future in property investment may not be as lucrative. I started earning $400K in my late 30s, but by the time I was near 50, I had $15m in assets, a mixture of escalating salary earnings (reached $1m) and rising passive income (over $300K now). My primary residence and other assets like cars etc are worth $8m, so my income generating assets are only around $7m. The key thing is being able to sustain in your lucrative job by dragging yourself into the office every day. Don't give up as all high paying jobs are difficult and painful. Hang in there for 10 years like me and you will be well taken care of. Keep investing your savings. When I earned $400K, I saved $200K like you, but when I hit $1m, I saved $700K. I just ploughed it into properties, high yield blue chip stocks and bonds. I've now sold all my properties in Singapore and spare cash is all in the market. Overall yield is about 5%