$6m by 55 is on the high side. Your combined current income and net worth is quite typical of dual income graduate couples in their mid 40s, and most would accumulate $5m by 55 if they do not make any big expense along the way (eg. spending on overseas university fees for their children). I know of some who managed to achieve $5.8m at 55 but that is only because their combined income was $500k pa when they were 50. They were saving $400k pa combined with passive incomes. By the way these people only drive Jap cars.
How did you arrive at the $6m projection?
Quote:
Originally Posted by Unregistered
I earn $190k pa, net worth $1.7m. Wife earns $120k pa, net worth $0.7m. We live in a condo in D21. We are in our early 40s. Our assets are our condo home, stocks, cash and cpf. We will continue saving and increasing our stocks. We should reach a net worth of $6m in total when we reach 55 years old. Then we retire. |