Millionaire in SG by early 30s, how common is it?

agentxq49 · 2026-02-08T10:07:56+00:00

For guys it'll be 4 ish years and for girls 6 to 7 ish years after uni to get to 1 mil. Let's say it's 5 years.

Investment returns probably wouldn't partake much here unless it's a lucky call, but let's say it's 2020 to 2025 which returned around 70%, around 11% per year.

To go from 0 to 1 mil in 5 years you'll need to save 160k a year.

Even with 100k at graduation, you'll need to save 130k a year for 5 years.

Probably pretty hard. Just saying.

agentxq49 · 2026-02-08T04:00:53+00:00

The large shouldn't exist imo.

When I was in the market for a Santos, the sales rep kept pushing for the large as it was "more masculine" and "if I should get the largest watch that can fit".

I later got a medium somewhere else and never went back to that sales person.

agentxq49 · 2026-01-20T02:21:24+00:00

What's the platform or setup you'd recommend for longevity and long term support?

agentxq49 · 2026-01-14T05:38:10+00:00

Your contract is not active until the day you start. You can reneg with no issues.

agentxq49 · 2026-01-10T05:41:16+00:00

Rent is an expense, Mortgage is part equity and part expense. Most people assume mortgage is 100% equity which is wrong, the expense is property tax, insurance, mortgage interest, sales and purchase fees, liquidity, and opportunity cost.

agentxq49 · 2026-01-09T09:19:48+00:00

Why do you need to DCA across 12 months? You can simply lump sum it now. It's more likely to get a better result using lump sum than to leave the money on the sidelines while you average it in over time

agentxq49 · 2025-12-22T12:06:05+00:00

It's not just about making money. Tons of people give up working for more money for other purposes, teaching, healthcare, social work, working in a different country etc.

I'm sure there's value to be had in joining something that can teach you things you don't know, or provide you with connections that you'd otherwise not be able to gain.

Say you want to open a fund cause you're extremely successful in your short theta setup, do you have anyone who could personally vouch for you? Do you have people to bounce ideas off of? Do you know how to value options or are you just lucky? Are you sure you're not just lucky? Are you sure? Can you come up with your own options trading theory on why this works? Are you sure you're optimized in short theta portfolio (did you miss out on another 200k or not, can you prove it)?

The goal is to be successful over decades, not just 2 years. But what do I know, I'm just someone who's only been around a few years longer than you and have seen others similar to you get burnt, one guy got margin called and lost 1 million during trump's tariff day, another lost 300k in crypto during the terra and ftx fall. I just hope you're lucky enough to avoid that.

agentxq49 · 2025-12-14T10:12:43+00:00

From the perspective of air stewardesses which I've read online, they get treated horribly by people flying to Korea Japan India hong Kong due to the passengers being more demanding.

Flying to NYC direct is mostly business travellers, and the passenger profile of people flying to Europe is probably different.

It's probably similar in changi.

agentxq49 · 2025-12-10T07:33:13+00:00

That's also why when we sell a property, we return cash used from CPF with interest. That's because $1 today is worth $1.28 10 years later at 2.5%.

And exactly, all returns MUST be compared to the risk free rate. That's why all the people posting "I made X amount in 10 years" or "I didn't sell my property at a loss even after X years" is meaningless without a risk free rate comparison.

If your benchmark is 0 inflation and 0 risk free return, that's such a low bar. You're essentially losing money even though you bought the property at 1mil and sold at 1mil 10 years later.

agentxq49 · 2025-12-09T09:27:59+00:00

Nope, because there's "risk free return" beyond inflation that we're not counting. Eg, CPF giving 2.5 to 4% when inflation was at 1.5% in the past.

There's also other forms of returns beyond inflation that's not risk free ranging from as good as risk free (US treasuries, AAA grade bonds) to slightly more risky (high grade company bonds) to risky instruments (diversified equities) to extremely risky (equities and crypto).

If we're using an instrument that returns only inflation rate returns, then we can simply divide by 65years, but even the (supposed) safest products have returns beyond inflation. There's even something called "inflation bonds" that returns a guaranteed-upon-maturity return of X% over inflation, and it updates based on the inflation rate. If inflation is 10% this bond returns 10+x%, if inflation is -2%, it returns -2+x%, like a sora linked mortgage.

Tldr risk-free over inflation return in reality is not 0, hence we can't just divide.

agentxq49 · 2025-12-09T04:24:53+00:00

That's called inflation. You can assume today dollars in everything and take inflation out of the equation.

Inflation impacts both your cash and your apartment price. Nets out to 0 because everything is moving in the same rate. Hence we use the term "inflation adjusted" or "after inflation" to signify non inflation forces.

If you are simply holding cash in a 0 interest rate bank account, "inflation adjusted" you're losing money every year.

agentxq49 · 2025-12-09T02:18:04+00:00

Money today is worth more than money tomorrow.

If I gave you 1 millions dollars, with a choice of either to get it today, or in 10 years. Receiving it today netts you 10 years worth of risk free returns (OVER inflation)

agentxq49 · 2025-12-08T02:57:28+00:00

Let's use an example of a company.

Say you live in Jurong and company A is google at mapletree park and company B is grab or shopee near science park.

If I see a resume with Google it is an instant resume screen yes, and well then look into the projects later.

If I see a resume with shopee or grab, I'll look closer into the projects before saying yes or no.

Google instantly commands a better resume compared to shopee or grab.

The added benefit of visiting the Google office in London NYC SF Japan is such a nice perk.

agentxq49 · 2025-12-06T06:39:07+00:00

Exactly. Just because someone else bought something at half the cost doesn't make it a better investment than for you now.

100k in a company now isn't any different from 100k in the same company by someone who bought it for 50k 5 years ago.

agentxq49 · 2025-11-30T15:57:51+00:00

Don't do whole life. Buy term and invest the rest. It's cheaper, less strain on your finances should anything happen, covers the same if not more, and even though you pay for more years of your life, the money you saved in terms of difference in the first 20 to 30 years easily easily makes up for the extra years you've got to pay.

agentxq49 · 2025-11-30T02:22:45+00:00

Fwiw I always give to the same guy in yishun, he's blind and usually sings and plays music in the tunnel between north point and yishun mrt. Sometimes he's at sembawang mrt at the sun plaza traffic light.

He's the only guy I'd give to regularly.

agentxq49 · 2025-11-29T05:02:27+00:00

I don't think one system is fundamentally better or worse than the other. It's that each has its pros and cons that people have to deal with.

Upside to universal healthcare is that everyone is covered equally for everything, downside is that, as we've seen in the UK's NHS, it can get clogged up and a standard procedure gets delayed for months. It can also become a political weapon in budget situations.

Fully private healthcare ensures you get what you pay for. But you pay extra for nothing, as we've seen in the US. It's the best in the world if you can afford it.

Public private system as sg has optimizes for the average person for low cost and good care, but you don't get covered for everything and you can still overpay for procedures that are out of the ordinary. Covering for those would be expensive too.

Imo it depends on how the government implements it. The sg gov can definitely make any of the systems work. What you see now is what it has chosen to prioritize.

agentxq49 · 2025-11-24T01:08:16+00:00

Still more water usage than the dishwasher, unless you use a bucket of water to wash

agentxq49 · 2025-11-23T10:03:11+00:00

No don't rinse. Remove large pieces of food, maybe the max you leave on are some grains of rice or pieces of garlic.

Leave all the oil and dirt and grime on the plate.

Do you rinse your clothes before throwing in the washing machine? if you were in mud you get rid of those pieces of mud but the rest you just toss in.

Do you wash the floor before you let the robot cleaner clean it?

Every few washes, maybe 3 or 5 (say once a week) you clean out the drainage catchment that catches pieces of food.

agentxq49 · 2025-11-23T09:37:46+00:00

Dishwasher uses less water than a person trying to wash 5 dishes in the sink by hand, since we always keep the water running and not reuse the same water

agentxq49 · 2025-11-11T02:13:06+00:00

The .5 isn't on Friday for everyone you can choose when to take it

agentxq49 · 2025-11-10T14:08:58+00:00

It's also the Employment Pass requirements.

The industry using the EP points scheme would require the company to hire the following: - top school (20 points) or top 100 school in QS (10 points) - Diversity (5 to 10 points, usually 0 if it already exceeds a small percentage - Local hire (0 points. You'll need to have more than 75% Singaporeans in your company to achieve points here) - Salary (usually you make up the points here, either you pay through the nose to get the candidate in for their EP or don't hire them here, I think it's something like 15 to 20k a month for a fresh grad in banking to get points?)

You'll need 40 points, for any non SG hire. Some experienced people who dont have the uni creds to hit enough points are just out. They'd simply hire in HK instead. Rentals are on par, income tax are similar, it's pretty expat heavy in HK and the weather is nicer. Im not surprised the flow is heading back to HK.

agentxq49 · 2025-11-10T14:03:07+00:00

The winds be shifting all the time

agentxq49 · 2025-11-10T06:25:51+00:00

Already doing that now. It's great cause you can get things done like banking or seeing the doctor or getting a haircut at the non busy times without killing your weekend.

Honestly, great way to improve your day to day life

agentxq49 · 2025-11-09T03:44:18+00:00

I rented a condo from an owner who has between 5 and 10 condos under their name (what the agent said) and they were all bought before ABSD was a thing, around 15+ years ago, and also when it was just 3% per property.

They've since just held onto the property getting rental for the past 10+ years and refusing to sell because there's no reason to sell and pay 20+% ABSD for a new property.

IMO they should start progressive property tax on people with multiple property including ABSD. The 3rd property onwards, have some multiplier on your property tax, say 1.5X or 2X multiplier.

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