How to hit your number/1 million bucks

[FastFastCar]

I attended a course on retirement/investments planning yesterday and they gave me a calculator to punch in some numbers to show how much you need at the age you retire. The numbers are shocking. Let's say if you are 35 and intend to retire at 55, assuming an inflation rate of 4%, the numbers can hit 2.5 million or more.

 

Unlike the rest of you here, I don't think I can even hit 1 million, and I think that 1 million is a good figure to aim for first as 2.5 million is just impossible in my lifetime. Any of you can share how you hit your first million so that a young guy like me can learn?

 

Thank you.

[Chewbacca]

I attended a course on retirement/investments planning yesterday and they gave me a calculator to punch in some numbers to show how much you need at the age you retire. The numbers are shocking. Let's say if you are 35 and intend to retire at 55, assuming an inflation rate of 4%, the numbers can hit 2.5 million or more.

 

Unlike the rest of you here, I don't think I can even hit 1 million, and I think that 1 million is a good figure to aim for first as 2.5 million is just impossible in my lifetime. Any of you can share how you hit your first million so that a young guy like me can learn?

 

Thank you.

 

The number is stupid lar. I've people show me the number too.

 

They're assuming you still need to spend, like, $2k a month when you're 55.

 

First, you'll work till 60+, more likely.

 

Second, everything paid up, so you should use much less. You're old then, you have time: take taxi/MRT. Your property should be paid up (hopefully).

 

And since you have more time, start cooking yourself.

 

I expect to spend closer to $1.2k (today's rate, no inflation factored in) a month.

 

Finally, you should have kids. While you can't really depend on them, you can expect $300-$500 from them ba....

 

 

 

 

[SimonTan]

Basically it means the day you start to work,you must start to save every penny for retirement, no wife,no house, no cars,no kids, etc.

 

Life is great isn't it?

 

[FastFastCar]

The number is stupid lar. I've people show me the number too.

 

They're assuming you still need to spend, like, $2k a month when you're 55.

 

First, you'll work till 60+, more likely.

 

Second, everything paid up, so you should use much less. You're old then, you have time: take taxi/MRT. Your property should be paid up (hopefully).

 

And since you have more time, start cooking yourself.

 

I expect to spend closer to $1.2k (today's rate, no inflation factored in) a month.

 

Finally, you should have kids. While you can't really depend on them, you can expect $300-$500 from them ba....

 

Yes, I suppose they make alot of assumptions on the rate of inflation and assume you need at least 2/3 of your pre-retirement income, I agree with you on this. However, I feel that you cannot assume that everyone can work till 60+ as many people get retrenched in their 40s and may be out of a job. That's why I said the 2.5million figure in the calculator is too far away and I aim for 1 million first, any ideas you have to how to hit your first million?

[FastFastCar]

Basically it means the day you start to work,you must start to save every penny for retirement, no wife,no house, no cars,no kids, etc.

 

Life is great isn't it?

 

The trainer also showed that if you save $100 a month from 22 to 40 and not save anymore and let it compound to 62 you will have more than someone who starts at 35 and contribute $300 a month till 62. Interesting.

[SimonTan]

How bout old age medical needs?

Can any insurance covers unlimited payouts till one die?

 

How about the Porsche one promised oneself it will happen after retirement?

How about the Alaska cruise and European80days world trip one promise oneself it will happen after retirement?

 

 

[Verve]

run your own business 1 mil easy easy, will overtake throttle in no time at all.

 

caveat : must learn the ropes and pay school fees first

[Vhtfhwlego]

I attended a course on retirement/investments planning yesterday and they gave me a calculator to punch in some numbers to show how much you need at the age you retire. The numbers are shocking. Let's say if you are 35 and intend to retire at 55, assuming an inflation rate of 4%, the numbers can hit 2.5 million or more.

 

Unlike the rest of you here, I don't think I can even hit 1 million, and I think that 1 million is a good figure to aim for first as 2.5 million is just impossible in my lifetime. Any of you can share how you hit your first million so that a young guy like me can learn?

 

Thank you.

forex trading...

attended a course, was told 1 month you take 6% profit with calculative risk.

Average out, 1 month I take 5 or more transaction, if that 3 wins in a row, I will stop. If that I were to lose 1, I will try again.

 

8 years & 3 months later, I will be a millionaire.

Faster than yours

 

Book1forex.xls

 

 

[Mockngbrd]

i heard SMRT got a position freed up sure can get more den 1mil

[FastFastCar]

How bout old age medical needs?

Can any insurance covers unlimited payouts till one die?

 

How about the Porsche one promised oneself it will happen after retirement?

How about the Alaska cruise and European80days world trip one promise oneself it will happen after retirement?

 

Upgrade your shield plan and try to exercise more and eat healthy, this is my best advice.

[FastFastCar]

run your own business 1 mil easy easy, will overtake throttle in no time at all.

 

caveat : must learn the ropes and pay school fees first

 

Are you running your own business and care to share your personal experiences and how you make it succeed?

[Salmon]

My humble 2 cents

 

Save, save and save

Accept and learn from your mistakes (sometimes pride may lead to your downfall)

Buy only when you can afford

Be humble (like Throttle) - Showing off will only make you lose more

Invest, make your money work for you

Enhace your knowledge through learning new things

[FastFastCar]

forex trading...

attended a course, was told 1 month you take 6% profit with calculative risk.

Average out, 1 month I take 5 or more transaction, if that 3 wins in a row, I will stop. If that I were to lose 1, I will try again.

 

8 years & 3 months later, I will be a millionaire.

Faster than yours

 

So have you tried it and how's the progress? Do you know how difficult it is to take 200pips off the market? and your table shows a win lose ratio that even george soros can't match.

[Cllee]

I attended a course on retirement/investments planning yesterday and they gave me a calculator to punch in some numbers to show how much you need at the age you retire. The numbers are shocking. Let's say if you are 35 and intend to retire at 55, assuming an inflation rate of 4%, the numbers can hit 2.5 million or more.

 

Unlike the rest of you here, I don't think I can even hit 1 million, and I think that 1 million is a good figure to aim for first as 2.5 million is just impossible in my lifetime. Any of you can share how you hit your first million so that a young guy like me can learn?

 

Thank you.

 

Did u ask the expert or the speaker of the seminar have they already made the $1mil for themselves?

[Vhtfhwlego]

So have you tried it and how's the progress? Do you know how difficult it is to take 200pips off the market? and your table shows a win lose ratio that even george soros can't match.

JWT can!

Dont know who is the bugger...

All for show...

they trade only JPY..

[FastFastCar]

My humble 2 cents

 

Save, save and save

Accept and learn from your mistakes (sometimes pride may lead to your downfall)

Buy only when you can afford

Be humble (like Throttle) - Showing off will only make you lose more

Invest, make your money work for you

Enhace your knowledge through learning new things

 

This is good advice, as to the savings part, I save $2000 a month, but that is only $24000 a year, and it will take me 41.666 years to save 1 million, I don't think I can live that long to hit $1mill.

[FastFastCar]

Did u ask the expert or the speaker of the seminar have they already made the $1mil for themselves?

 

It was more of a financial planning workshop and not those seminars that proclaim that can make you a millionaire hence I did not ask.

[Gearoil]

I attended a course on retirement/investments planning yesterday and they gave me a calculator to punch in some numbers to show how much you need at the age you retire. The numbers are shocking. Let's say if you are 35 and intend to retire at 55, assuming an inflation rate of 4%, the numbers can hit 2.5 million or more.

 

Unlike the rest of you here, I don't think I can even hit 1 million, and I think that 1 million is a good figure to aim for first as 2.5 million is just impossible in my lifetime. Any of you can share how you hit your first million so that a young guy like me can learn?

 

Thank you.

 

For you...you're a hopeless case...thinking of fAsT MONEY LIKE YOUR NICK ..FAST..FAST ..LIKE IT WiLL faALL DOwN on you from the sky...

 

same like Sabbie...

 

Take it from me...young punk..

 

For the time that you will still have to run road...opps...I mean still plenty of time to run ..I mean a long long way to go...unlike the past..

 

It will be tough times and tough life ..like now to your future ...future

 

for you...

 

Cos 'toilet papers' even geting a 'B' won't cut you any slack... for success..

 

And don't come to talk back to me..

 

cos you're way out of my league here..

 

And I'm sure you never even catch up to where I 'was' ..when I was just in my 30s..