Wednesday, 18 May 2022

How Many Years To Become A Millionaire?


OK, a billion is too out of our reach...

Let's take a million Sing dollars then. 

How many years do you intend to achieve it?

Some don't mind 30 years slow and steady grind (tortoises?) - the CPF 1M65 voluntary savers?

Then there are the super aggressive achievers like those crypto youths (hares?) who became millionaires in less than 5 years (I'm sure there are some who took profits like those old fogeys who took profits before the 2000 Nasdaq crash or recent Tech rout).

That would leave the rest of us who are into equities or properties falling somewhere between 5 to 30 years to achieve our first million?

To some youths, a million can be too abstract... No worries! Don't feel left out.

I noticed a number of youths are playing this how I saved my first $100K (before 30?) flexing game...

Just remove the saved to include earned and saved. Wink.

Just the other morning, I was having breakfast at McDonald's when I overheard 4 civil defence NSF flexing their investments in Tesla!?

I'm impressed!


In case some of you are tempted to become too money minded, do remember money is just an enabler -  a tool.

We should be the master who wields this tool; not the other way round where money owns us and we the slave...


  1. Luna crash shows us how fast one can be De-millionaire.

    1. CW,

      It can happen to all other assets too.

      Just ask those (me included) who got zero bagger with equities :(

      Then there are those who found out the hard way why high yield bonds are called "junk" bonds...

      Properties, although seldom go to zero, the dollar amount lost can be quite devastating - even though the losses in percentages not that scary...

      For forex, we had our "Luna" moments too. A few years back, when the Swiss central bank stopped defending the EUR/CHF floor, quite a few forex brokers went bankrupt - never mind the many retail traders who blew up their trading accounts...

      Then there's Options where 2 years ago, one young 20 year old US youth, who traded on that "free" RobinHood app, killed himself when he thought he had lost hundreds of thousands...

      Even CPF, all we need is to fall to the charms of a Candy Seller who promises "free this, free that" during elections. Being a CPF millionaire in 20 to 30 years' time can be meaningless when with that million, all we can afford is a brand new HDB 2 room BTO!?

      How about Gold? It has never gone to zero for the past 5000 years. Yet, yield hogs still can find ways to lose everything by being suckered into those Gold trading scams...

      Its never the tools or vehicles; its the wielder.

  2. Smol,

    Can be instant multi-billionaire ... in rupiah. LOL.

    1. Spur,

      Or in Korean Won?

      And Vietnamese Dong?

      We don't need to know their financial history to quickly realise these countries must have experienced super hyper inflation in their past...

      The 1M65 movement will never stand a chance in those countries.

      I would think it would be hard to sell in Malaysia too... Imagine 20 to 30 years later, the Malaysia Ringgit to Singapore Dollar exchange rate is 6 to 1?

      On the flip side, I wonder the Singaporean 1M65 saver would be distraught if the MYR/SGD exchange rate 20 to 30 years would revert back to parity like in the 70s - 1 to 1?

      Who can predict what will happen 20 to 30 years down the road?

      Yet "Long Term" is exalted; while being in the here and now is thrashed in the financial freedom community....


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