Am not the high flyers out here with 100k++ annual income. I am wondering if i can achieve a million with some high growth stocks / ETFs and prudent spending. I do not own a car, HDB BTO, frugal habits e.g do not eat breakfast buying 2nd hand things. Can my habits and investment get me to a million or i am just being delulu.
At least put a number on how much you can invest per month consistently. You can be median income but living from pay check to pay check won't get you to 1 Mill
This. Important to be realistic too and take into account most known expenses, especially the annual ones like premiums for shield plans
1m portfolio w capital injection into index etf over 20 years yes. For individual stocks, if you pick the right ones.
I think as much as we support index investing, we should be cautious about giving assurance or affirmation on expectations of returns, even if historical data suggests so. So I’d describe it as “likely”, instead of “yes”.
im taking as 6% return for 20yrs, with 1.5k that would mean 660K. Doesn't count salary increment, bonus and then dip buying. It will be crazy to think 10% pa returns
Does not eating breakfast = Frugal? I don't eat multiple meals a day but 1-2 meal high quality. 2nd hand? 2nd hand Hermes.. Need to be more specific. But not owning a car is already a huge frugal step
Buddy I'll die if I don't eat 2nd breakfast, or elevensies.
Eating less meals = higher clarity mind + function. That gives for higher capacity for financial plans. Dont be enslaved by food (nor money) That said cutting out meals and not eating nutritious food is not the way to FI. If anything, gotta take good care of the body to use the money. Never shortchange yourself by eating cheap trash to save money
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