How much is your income and savings? From your savings annually, you should be able to estimate whether you can achieve $10m in your working lifetime.
To hit $10m by 55, you have to grow your net worth by $410k each year. Are you achieving that now? It is good to aim high, but don't stress over it. $8m is also good enough.
With $8m, we are literally having a perpetual money making machine churning out $250k - $300k passive income annually while we relax one corner. It is a happy problem of deciding what to do each month with the money coming in. We usually end up reinvesting the money.
Quote:
Originally Posted by Banking professionals
Age 39 and 37
Landed property less loan: $1.9M
Cash and stocks: $800K
Unit trust and endowments: $200K
Cpf: $100K
Car value less loan: $50K
Overseas property: $350K
Total: $3.4M
Still far from our retirement target of $10M
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