For those who have reached their net worth of $1M mark and above; where did you make your FIRST $1M in your net worth.
(1) All saving including CPF from your earned income or salaries
(2) Profits from business entities
(3) Net investment gains from properties
(4) Net investment gains from stocks
While many personal financial investment bloggers love to chant on investing, investing and investing; how many of them really make their FIRST $1M from stocks?
Posts
Wah $1m dream so far away...
ReplyDelete$10k first maybe can hahaha
...
ReplyDelete5. From inheritance or give.
6. From lottery
7. From scamming or cheating
@late 40.
ReplyDeletevia
1. Gain from properties
2. CPF
1. Gain from enbloc property
ReplyDelete2. Job
3. CPF
This comment has been removed by the author.
ReplyDeleteCW,
ReplyDeleteYou are the few "millionaire next door" who didn't reach it through property in Singapore ;)
Anecdotally, its property for the majority of Singaporeans.
Just look at the resale prices of HDB 5 room in mature estates. Actually, being an "asset millionaire" in Singapore is quite "common"; once you've gone private property ;)
Those who bought HUDC and en-bloc to private are the super lucky ones!
But HDB 2 bites of the cherries also not so far behind. Capital gains of $500K and above not unheard of ;)
Stocks? Lots of sound and fury in percentages. In money terms, most of the portfolio "growth" comes from earn more and save more.
The more honest and transparent bloggers will reveal their monthly or yearly capital injections ;)
If one can earn and save $50K per year, we can be a millionaires in 20 years' time. Why risk -50% drawdowns in 1997, 2000, 2008 to switch the goal of investing to "I breakeven one day if I hold long enough"?
The real reason?
People don't want financial freedom at 65; they want it at 35 ;)
Investing is speculation.