Congratulations on your big achievement! Not many people are debt free at your age. You are among the successful few who own their home outright and becoming a millionaire couple. There are people who own a $1.5m condo but loan $1m. These people will be slaves to their home whereas you own your home. If they lose their jobs, they will be in big trouble.
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Originally Posted by Unregistered
I earn $60k pa while wife earns $80k pa. Our four room flat, bought many years ago, is paid up and now worth $450k. Even though our earnings are not high, we are frugal and don't spend unnecessarily. We survived without a maid and buy only cheap cars to travel.
We are now already a millionaire couple as our total net worth (including our home) is now worth $1.08m. We are only 43, 42 years old. By the time we retire at 62, our total net worth will reach $2m. We will be a retired millionaire couple in 20 years time.
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