S'pore's millionaire club, are you in it?

[rosemummy]

MMM:

UncleLim:

Top lawyers and bankers earn way way more than $10k a month !!

Actually $10k is not alot nowadays. The new norm is $20k and above.

Actually, the pay for lawyers had been dropping. During my parents' generation, an average lawyer can easily make a million a year. These days, most are getting less than half that.

$20k is not all that much these days. For bankers, the more important component in the compensation package is bonus, not basic pay.

[dfanwy]

It is true that the Rich will become richer and the poor will become poorer. But, it is not because the amount of money they have with them. It is their mindsets. Statistics has shown that many rich people may turn poor, and many poor people become rich.


If you want to be a millionaire, start with a millionare mindset…and if you cannot change yourself, at least start with your children.

[WeiHan]

I know someone who worked for roughly 10 years on an ordinary graduate engineering job with starting pay of roughly S$2800 per month. He saved some of the money every month and merely invest in stocks all over the world. Today merely 10 years later, he has S$800,000. All the money is from saving from his only job and investment return.


What do you think of this?

[dicky]

WeiHan:

I know someone who worked for roughly 10 years on an ordinary graduate engineering job with starting pay of roughly S$2800 per month. He saved some of the money every month and merely invest in stocks all over the world. Today merely 10 years later, he has S$800,000. All the money is from saving from his only job and investment return.


What do you think of this?

Presuming he never gone through the crisis of job loss like we do.... Not too bad...

Everyone have their own formula for wealth creation, that cannot be 100% emulate by others. Every path or choices had their own pains and gains.

So no comments other than happy for him...

[WeiHan]

dicky:

WeiHan:

I know someone who worked for roughly 10 years on an ordinary graduate engineering job with starting pay of roughly S$2800 per month. He saved some of the money every month and merely invest in stocks all over the world. Today merely 10 years later, he has S$800,000. All the money is from saving from his only job and investment return.


What do you think of this?

Presuming he never gone through the crisis of job loss like we do.... Not too bad...

Everyone have their own formula for wealth creation, that cannot be 100% emulate by others. Every path or choices had their own pains and gains.

So no comments other than happy for him...

No. He has no job loss etc...His job is rather stable though not high flying. His salary increases moderately over the years and reached 5k only recently. However, he is rather thrifty and never spend much on luxurious items like cars etc....Probably half of his salary was spend on his family expenses...What do you think is his investment return?

[dicky]

Some can live on less, some cannot… Have seen more successful cases, and less successful ones…


There isn’t a need to compare. Life is not a race… It’s about your life and wealth expectation and whether you have met them…

[UncleLim]

verykiasu2010:

since you have kids, you can still be in law

Failing that, the alternative to riches is to become an \"outlaw\" ! :evil: :evil:

[babystickyfingers]

rich man may not necessarily be happy man but then of course, we cant live without vitamin M....

[UncleLim]

babystickyfingers:

rich man may not necessarily be happy man but then of course, we cant live without vitamin M....

You are right there. Not many people are naturally equipped to live with abundant wealth they have accumulated (or inherited). One needs to have that wisdom to have money and be happy as well.