If you were to work for 50 years of your life and then consolidate all your earnings in your entire life just to see if you’ll be able to earn a million dollars, you would be able to achieve it with an average income of $20,000 per year, even without investing. As you can see, that is an easy sum to achieve with an annual income of $40,000 if you save 50% of your pay.
I’ve always wondered how it would be like to be a millionaire. Watching Leonardo DiCaprio fanning his money away in The Wolf of Wall Street always seemed to be a tantalizing thought. If I did really have that kind of money though, I’m pretty sure that I wouldn’t wanna do that and would continue to keep it in my bank account to accumulate more interest :p
Is being a millionaire all that great? Maybe. It would probably be the first milestone for my journey to financial freedom. But could I retire with a million dollars at Age 40? Nah, I must be dreaming. It would only signify the beginning of my journey, and maybe indicate to me as a form of assurance that I have been on the right track.
There is this article from The Business Times that stated that the percentage of millionaires in Singapore is close to 2%. So by definition, if you have 500 friends in Facebook, you already know 10 millionaires! You could even be one of the 10, I wouldn’t be surprised. I would probably have way more to learn from you than whatever information you can get out of this blog.
Would I want to be one of your 10 friends one day? You bet.
But like the wise words from The Hollies, it’s going to be a long, long road~~~
May not quite be the perfect song to describe the situation, but I’m feeling nostalgic today. :p
