How much are you earning per annum?

Actually, net worth of $6m by 55 is a low target. We will invest $200k pa (from our annual savings) in stocks, which is expected appreciate in value (capital gains) by at least 8% pa (my long term track record). The dividends (yield of 5% pa) will be saved. I am good at investing so this is possible. For those who are not good at investing, they achieve only 2% pa dividends yield and no capital appreciation.

Originally Posted by Unregistered

$6m by 55 is on the high side. Your combined current income and net worth is quite typical of dual income graduate couples in their mid 40s, and most would accumulate $5m by 55 if they do not make any big expense along the way (eg. spending on overseas university fees for their children). I know of some who managed to achieve $5.8m at 55 but that is only because their combined income was $500k pa when they were 50. They were saving $400k pa combined with passive incomes. By the way these people only drive Jap cars.

How did you arrive at the $6m projection?

The window of opportunity to pick up stocks at discounted prices is opening up! The US is stopping the QE and stocks around the region are crashing.

If you can pick up baggers you may hit your targets earlier or lose it all.

Get ready to dip into your war chest.

Originally Posted by Unregistered

Actually, net worth of $6m by 55 is a low target. We will invest $200k pa (from our annual savings) in stocks, which is expected appreciate in value (capital gains) by at least 8% pa (my long term track record). The dividends (yield of 5% pa) will be saved. I am good at investing so this is possible. For those who are not good at investing, they achieve only 2% pa dividends yield and no capital appreciation.

Age: 33, married with a kid.
My wife and I are retired as I inherit $8m from my grandparents and earn about $4m thru sub-sale of condo from 2008 till 2012.
$5m invested in stock with annual dividend return of about 5-8%.
$3m set aside in bank for tour spending average of $60k/year.
Annual expenses is about 30% drawn out from annual dividend earned. I take public transport because I don't need to rush.
Projected to rch $15m in 30 years by reinvesting the dividend earned.
Staying in a freehold 9 bedrooms landed property in Jurong worth $6m.

Are some of these posters for real? Even if they inherited millions etc am not interested, as it has no learning value for regular people

I'm 44 while my wife is 38. I earn $120k pa as a working professional while my wife is a housewife, taking care of our 3 year old twin kids. We live in a condo in Chua Chu Kang which I bought in 2005 for $500k. Due to the good economic growth and the well managed economy, my condo appreciated to $1m today. I am very happy with this. I still have $100k in outstanding loans to clear over the next 20 years. I am richer today than 7 year ago. I love our government for making my property value grow because my property is for my retirement.

My CPF and cash savings is now about $400k. I hope to grow this until 65 when I retire. We plan to sell our condo when I retire and me and my wife will retire in our terrace house in JB. We will convert our cash to RM and expect to have RM5m cash for us to retire with.

Originally Posted by Unregistered

Age: 33, married with a kid.
My wife and I are retired as I inherit $8m from my grandparents and earn about $4m thru sub-sale of condo from 2008 till 2012.
$5m invested in stock with annual dividend return of about 5-8%.
$3m set aside in bank for tour spending average of $60k/year.
Annual expenses is about 30% drawn out from annual dividend earned. I take public transport because I don't need to rush.
Projected to rch $15m in 30 years by reinvesting the dividend earned.
Staying in a freehold 9 bedrooms landed property in Jurong worth $6m.

lol why the hell do u wanna stay in Jurong when u guys are so rich

You have a good retirement plan. RM5m is a lot of money. I am also doing the same. I am living in a HDB flat in a matured estate near the city. It is paid up and now worth $850k. In 10 years time when I retire, I will sell it and plus my savings, I will have about RM4m to retire. I will go to Malacca as I have some family members there.

Originally Posted by Unregistered

I'm 44 while my wife is 38. I earn $120k pa as a working professional while my wife is a housewife, taking care of our 3 year old twin kids. We live in a condo in Chua Chu Kang which I bought in 2005 for $500k. Due to the good economic growth and the well managed economy, my condo appreciated to $1m today. I am very happy with this. I still have $100k in outstanding loans to clear over the next 20 years. I am richer today than 7 year ago. I love our government for making my property value grow because my property is for my retirement.

My CPF and cash savings is now about $400k. I hope to grow this until 65 when I retire. We plan to sell our condo when I retire and me and my wife will retire in our terrace house in JB. We will convert our cash to RM and expect to have RM5m cash for us to retire with.

Married couple, 46 & 49, with 2 beautiful teenage kids.
Combined annual income, $150k.
Home is a condo worth $1.1m with outstanding loan of $500k.
Owns a European car, loan left $30k.
Holidays spending, twice a year, $12k.
Annual expenses, $120k.
Annual savings, $30k.

We are in the middle class group, struggling to survive in this modern life, full of high expectations. We are actually among the less well off as many of our friends and family members earn $300k pa (combined couple income).

23 going-on-24
Investment banking analyst
120K (ex bonus)

Income wise, your household is in the middle middle income group. But your lifestyle - staying in condo (I am guessing a 2 bedroom one), conti car and twice yearly holidays, is that of an upper middle income household. Keeping up with the Joneses is not a good idea. Better to set aside more buffer for emergencies. They have a bad habit of springing up on you without notice.

Saving $30k pa means you will need at least 6 - 7 years of saving before you can pay up for another car! At 46, 49 already there isn't that much time to build up a solid nest egg.

On the other hand, I know of many upper middle income people who are very frugal. Some of them will swear by their HDB flats - they are happy staying in the same HDB since they got married even though their incomes have increased many fold. Many prefer Jap cars for their reliability. The most extravagant car they are willing to spend on is the Camry or Jap MPV. Their watches are practical Casio watches. If they have multiple properties, they are not telling. They don't boast. But we know they earning at least $300k pa for the position they hold.

Originally Posted by Unregistered

Married couple, 46 & 49, with 2 beautiful teenage kids.
Combined annual income, $150k.
Home is a condo worth $1.1m with outstanding loan of $500k.
Owns a European car, loan left $30k.
Holidays spending, twice a year, $12k.
Annual expenses, $120k.
Annual savings, $30k.

We are in the middle class group, struggling to survive in this modern life, full of high expectations. We are actually among the less well off as many of our friends and family members earn $300k pa (combined couple income).