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Old 29-03-2017, 05:36 AM
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Quote:
Originally Posted by Unregistered View Post
You need to define what is "successful".

My take is that you dont need to be "successful" to attain some wealth, you just need the following (or to be more precise, to attain a $1m by your 40s):-

1. Upon graduation, start work immediately in a company that pays you a decent salary (eg. $4k pm)
2. Do not have any employment gap. That is, work continuously from 23 or 25 to your 40s.
3. Save at least 25% to 40% of your salary each year.
4. Get married early, and to a working wife. Here, you will realise why "1 + 1 > 2". Here if you both work, you will find that you can save much more, take less loan etc..
5. Enjoy the subsidies and grants of a BTO
6. Invest your savings

My and wife did all the above 6 steps and our networth hit $2.5m when we were in our early 40s. We dont consider ourselves as successful in any way. If I had remained single I doubt I could even accumulate $1m in my 40s.

When we were in our late 40s, we were able to just survive on one salary, meaning we could save the other person full salary every year!

Now in our mid 50s, we are able to survive on just our passive incomes, meaning both our salaries are saved!
Well done!
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