From my personal experience, $50k to $1m is do-able, dun even need additional investments from income and dun need 13 years oso. But it’s way too early for Eugene to say bcuz: 1. Experience - From his portfolio all in SGX, it’s fair to say he hasn’t even stepped into the real world of investing. 2. Investing and trading is not maths - The journey from $50k to $100k is not the same as from $500k to $1m. There is diff in strategies, psychology, stress, etc etc. For the younger folks thinking it’s just as simple as doing the calculation on excel is not visualising hard enuf. 3. Crisis management - For Eugene’s age, it’s fair to say he hasn’t been thru much market corrections, and how to navigate a significant drop in portfolio value. There’s a lot of humble pies waiting for ppl who oversimplify the goal.
agree having a day job keeps the sanity n pressure from needing to outperform in investment. Greed often leads to over exposure to risks. Decision to buy or sell should be based on whether there are better opportunities, if there isn't then no harm holding. Time in market is more important than timing the market
initial stage active income is more powerful than investing. (i mean investing not trading. this require total different skillset and psychology .) as investing is about gaining in terms of percentage. investing only became more and more powerful when the amount getting bigger.
Why would one have 50k at age 20? Angpao money is just parents money as you only get angpao from others when your parents give it to others. I have negative 150k net worth until 26 when I graduate. 7 years to 1.15m starting with zero (hence nothing to compound) is nigh insane
Very few asset class can provide and sustain 25% yield for 10 years. Even if they do these are very rare and highly volatile assets like cryptocurrencies, rare individual tech stocks, and very high risk venture and private equities, and hedge funds with aggressive investment strategies.
I retired before 40 - passive income from dividends & collect rental monthly I was lucky to own few good SG stocks in 2000s I gave birth to baby boy in 2005 and bought my first property in 2006 with full cash. My property above millions today - do I consider a MILLIONAIRE now? haha
From my personal experience, $50k to $1m is do-able, dun even need additional investments from income and dun need 13 years oso. But it’s way too early for Eugene to say bcuz:
1. Experience - From his portfolio all in SGX, it’s fair to say he hasn’t even stepped into the real world of investing.
2. Investing and trading is not maths - The journey from $50k to $100k is not the same as from $500k to $1m. There is diff in strategies, psychology, stress, etc etc. For the younger folks thinking it’s just as simple as doing the calculation on excel is not visualising hard enuf.
3. Crisis management - For Eugene’s age, it’s fair to say he hasn’t been thru much market corrections, and how to navigate a significant drop in portfolio value.
There’s a lot of humble pies waiting for ppl who oversimplify the goal.
🥧
When I was in my:
-20, I had 2.
-30, I had 20K
-40, I had 200K
-50, I had 2000K
-60, I had 20000K
Did a quick calculation, at 7% rate of return, need to invest 3460 every month to hit 1m in 13 years. 25% is in dream only, not sustainable
thats why kelvin said only in bubble times, you see mavricks coming out in market telling everyone he is investment god.
agree having a day job keeps the sanity n pressure from needing to outperform in investment. Greed often leads to over exposure to risks. Decision to buy or sell should be based on whether there are better opportunities, if there isn't then no harm holding. Time in market is more important than timing the market
initial stage active income is more powerful than investing. (i mean investing not trading. this require total different skillset and psychology .)
as investing is about gaining in terms of percentage. investing only became more and more powerful when the amount getting bigger.
💯
Why would one have 50k at age 20? Angpao money is just parents money as you only get angpao from others when your parents give it to others. I have negative 150k net worth until 26 when I graduate. 7 years to 1.15m starting with zero (hence nothing to compound) is nigh insane
Millionaire by networth or millionaire in terms of liquid savings/investment (without counting CPF)?
When he hit 33, 1 mil will be worth only about 700K actual value
Does the 1 million include CPF savings?
Very few asset class can provide and sustain 25% yield for 10 years. Even if they do these are very rare and highly volatile assets like cryptocurrencies, rare individual tech stocks, and very high risk venture and private equities, and hedge funds with aggressive investment strategies.
I retired before 40 - passive income from dividends & collect rental monthly
I was lucky to own few good SG stocks in 2000s
I gave birth to baby boy in 2005 and bought my first property in 2006 with full cash.
My property above millions today - do I consider a MILLIONAIRE now? haha