Quote:
Originally Posted by Unregistered
If by age 31, net worth is 300K excluding cpf, by what age can hit 1M? Assuming returns on investment is at a modest 2.0%. Frugal lifestyle and saves 3K pm. |
At 2 % compounded returns over 20 years , you will get extra 151k from investments . Savings of 3 k per m will give you 36 k per year . In 20 years you will get 720k .
Making it over 1 m by 51 . However with inflation . The pv of that 1 m is only 670k thereabouts .