How much are you earning per annum?

Got any kids? If so, how many years for them to reach and complete uni studies?

Your situation same as ours when we were in our 40s (13 years ago). Then our networth was $2.4m.

I see no problem at all for you to achieve your networth goal of $5m by 65. In fact, I am confident you will achieve it by 55.

We are in our mid 50s, and working to hit $6.5m in networth before we reach 60.

With constant and steady savings and investment you will see the compounding returns coming in strongly from 50 onwards. This what we are enjoying now.

Our passive income has grown steadily from $50kpa at 50 to $120k pa now and we are pushing it to $150k pa by 60.

In meantime, dont forget to live and enjoy life. And it is definitely easier to be more carefree about expenses when you have built up a strong financial base. And strangely enough, you will also view work differently.

Originally Posted by Unregistered

Like my job. Pays quite well and stress manageable.

Me & wife saves 160k (cash +cpf) and 24k passive income. Net worth 1.8million.
42 & 43.

Intend to work till 65.... Should reach net worth of $5million...

There is no such thing as a perpetual motion machine. Every scientist and engineer knows that because you cannot create energy from nothing. Friction will slowly "destroy" the energy in the machine and cause the machine to stop eventually.

But in the financial sense, you could build a "perpetual" income machine. This is our model:

At 60, we have built up a networth of $6m

Taking away our primary home value ($1.5m) we have $4.5m to invest

But as we are already retired, we took out $1m to fund our expenses at $100k pa. This leaves $3.5m for investment.

Our $3.5m is currently placed in conservative investment instruments giving us only 3% return or about $100k pa.

After 10 years, at 70, we would have used up the $1m we put aside for expenses. But by then, our passive income would have generated another $1m for us.

Unfortunately the inflation (just like friction) will slowly eat away the value of the new $1m. It will not buy us as much as the current $1m. So unless our investment returns can beat inflation, we would not be able to have a perpetual income machine.

Lower middle income couple making only $152k pa. We are blessed with two wonderful children who love us very much as we spend a lot of time with them since young. We sacrificed by not taking up jobs that paid very well but stressful and require long hours at work, even working during weekends. We chose lower paying jobs which allow us to raise a good happy family.

We upgraded to a condo in 2005 and has paid up the condo. We are lucky as the price at that time was low. Today the condo is worth $1m.

We are now saving up as much as we can so that we can retire in ten years time at 55.

Don't be too concerned about how much you earn. Just live a comfortable, humble life. Those who earn more, let them be. Just be contented. Life is short to be so hung up about how much other people earn. If you have a home and can feed your family, you are already very fortunate. Millions of people around the world live in poverty and slums. You should be grateful. Don't be people who are not grateful, only know how to complain.

Originally Posted by Unregistered

Don't be too concerned about how much you earn. Just live a comfortable, humble life. Those who earn more, let them be. Just be contented. Life is short to be so hung up about how much other people earn. If you have a home and can feed your family, you are already very fortunate. Millions of people around the world live in poverty and slums. You should be grateful. Don't be people who are not grateful, only know how to complain.

How's it looking up there in your moral high horse?

You have actually done well, in fact very well. Your household income is actually very good, even though not as high as some people here. But most importantly, you have fully owned a condo. This is a big achievement. 80% of people live in public housing so you are among the top 20% living in private housing. Among those 20%, not many have paid up their housing loan. So you could be among the top people who own a paid up private property. You could be among the top 5% in the country.

Originally Posted by Unregistered

Lower middle income couple making only $152k pa. We are blessed with two wonderful children who love us very much as we spend a lot of time with them since young. We sacrificed by not taking up jobs that paid very well but stressful and require long hours at work, even working during weekends. We chose lower paying jobs which allow us to raise a good happy family.

We upgraded to a condo in 2005 and has paid up the condo. We are lucky as the price at that time was low. Today the condo is worth $1m.

We are now saving up as much as we can so that we can retire in ten years time at 55.

This is true. What is unfortunate is some youngsters are ungrateful. They enjoy very cheap BTO flats and yet they like to complain and complain. In many countries, it is difficult to buy the first property. Here, no problem at all. With so many grants given, buying a BTO flat is so easy for young married couples.

Originally Posted by Unregistered

Don't be too concerned about how much you earn. Just live a comfortable, humble life. Those who earn more, let them be. Just be contented. Life is short to be so hung up about how much other people earn. If you have a home and can feed your family, you are already very fortunate. Millions of people around the world live in poverty and slums. You should be grateful. Don't be people who are not grateful, only know how to complain.

Originally Posted by Unregistered

How's it looking up there in your moral high horse?

Very well, thanks for asking.

Originally Posted by Unregistered

This is true. What is unfortunate is some youngsters are ungrateful. They enjoy very cheap BTO flats and yet they like to complain and complain. In many countries, it is difficult to buy the first property. Here, no problem at all. With so many grants given, buying a BTO flat is so easy for young married couples.

These youngsters are spoilt brats. Their poor upbringing could be due to lousy parenting. Many parents are greedy to earn more money but they neglect their children. These children are brought up by maids. These parents can actually live comfortably with $100k pa of household income but they want to earn $200k pa. The children then become spoilt brats.

I thought this was quite a post #8318. Realistically speaking, even if you don't get all of it at one go, with number 3 to 6 being legitimate fears or reasons of working with difficult people, how do you balance this with the higher income you enjoy? Do you just stop or how much of it can you put up with?

1,2,7,8 demotivates morale too and like it or not not all of it is within one's control.

Originally Posted by Unregistered

You don't have to:
(1) wake up early in the morning and get stuck in the morning traffic jam,
(2) go home late at night when everyone in your family has slept,
(3) report everyday to a boss who you don't like and yet you try so hard to please,
(4) be scolded by your boss every other day,
(5) get involved in dirty office politics, (6) be humiliated by lousy year end review even though you have done well whereas the boss pets get good reviews even though they produce lousy work, etc.
(7) get your weekends burnt to finish up urgent work, etc.
(8) get high blood pressure, high cholesterol, high stress, depression, etc.

Be your own man.
Be free.
Be financially independent.