im 21, going 22 this year

currently undergrad in nus, year 1 undergrad to be exact (had to serve 2 years in NS)

worked part time jobs (in the past) and gave tuition (for a few years, still giving tuition now in uni) started investing in my teens

stocks 81k
cpf 6k
insurance (bought by my parents) current value 80k
cash 60k

btw, im just a average joe, live in a hdb flat (owned by parents). no property under my name to boot. dont own a car too (imo waste money)

Very impressive.

how can i buy stocks?

based on my understanding of trading rules, u need around 5x deposit for trading account unless linked to your parent.

earliest age is 18.

u must be a warren buffet in making if u didnt had help to achieve s$140k liquidity n still as undergrad

Thanks everyone for your comments. Made me realize how small my $2.2m net worth is in Singapore. I guess I have to save more from my small $100k pa income. Maybe I have to sell away my car and take the MRT to work. If me and my wife can save $50k a year from our combined $180k pa income, then in 20 years, we can save another $1m. By then my properties should be worth $5m and generate at least $200k pa in rents. This should be sufficient when we retire.

Yes that is the sad truth. At age 50, you don't really have that much working mileage left unless you are the boss. Looking to work another 20 years (you will be 70 by then) and to accummulate another million is a stretch. Selling away that car and taking public transport is a good idea. People are already hitting $ 200k by their late 30s to early 40s.

But your properties will be your saving grace unless the gahmen introduced more measures to tax your second and third properties heavily. Coupled with periods of low or no rentals, (because there will be many completed units flooding the market), best to save more & prepare for rainy days. At $100k pa and assuming 3 months bonus, your monthly pay is just $6,700. It does not go far.

Dont talk cock lah, that kind of asset and money not enough, then many in sg would have dropped dead already. greed.

Heartlander
 

Dear Sir,

Dun get us wrong.$2.2m is not a small sum.U have achieved something significant.U do not have to be so drastic in taking action like selling car,etc.Life is so unpredictable thus cherish the things u have rather than things u do not.In any case,life is more than just net worth right?

Cheers!

Hello guys!

This year I will be 48, I earn $135k pa while my wife earns $100k pa.

We live in a big terrace house and renting out my HDB flat and two condos.

Our net worth is only about $6m. Hope to reach $10m by 65 years old when I retire.

Plan to travel the world when we retire. By then our passive income should be about $500k pa.

How did you manage to accumulate so much net worth with the modest income you and your wife got?