In this hurried world, people easily get caught up in rushing from one thing / place to another. Likewise, in their personal finances, they want their wealth to grow quickly. They see their neighbors have cars, they go out and buy themselves one. They see their neighbors have a BMW, they upgrade theirs to a BMW too - if they cannot pay in full, they take loans.

Some things do need time to blossom. Take children for example. A child needs 21 years to become a full fledge adult and another 3 to 4 years to become economically productive. By the time they start to be financially independent of you, they could be in their late 20s or even 30s - running their own households. The other is wealth. Wealth also needs time to build up. The earlier you start saving and the longer you save, the bigger your wealth will grow.

I find that slow and steady savings do work. There is no need for complicated and risky investments. And one of the best and most secure way of building up your wealth is through the CPF. Consistent savings and Time are the magic ingredients.

Currently in our mid 50s, my wife and I have more than $1M each in our CPF accounts earning a yearly interest of $34k each. If we live frugally, we could just live off the CPF yearly interest. From 65, we expect to have another $48k combined payout from our CPF Life each year.

Any dividend and rental income we get along the way will be our bonus to spend for holidays overseas.