I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Sunday 17 January 2010

Who Want To Be A Millionaire?

The possible stages before becoming a Millionaire ..

Four Financial Progressive Stages

Asset Rich Millionaire

They accumulate enough wealth to become a millionaire; but by then they are near retirement and their wealth may be enough to see them through a decent retired life. They are unlikely to have the ability to take more risks to create more wealth. They tend to be very careful with their money as it will most likely to dwindle down with passing time. These millionaires are typical asset rich Singaporeans who have substantial CPF saving,  unit trusts, mature insurance endowment, and down-graded or sold their residential home after retirement.

[After post:
Comment from Laksa: I believe your Asset Rich Millionaire definition does not fit what you are trying to say. Asset rich millionaires could also be people who have plenty of properties and nothing else. Those are termed assets as long as it generates a positive cashflow and they may not be investment savvy.
Comment from CW8888: Not sure someone who have plenty of properties and still not considered as investment savvy. Maybe they inherited those properties so we have another class called Silver Spoon Millionaire]

Investor Millionaire

They create and build up massive wealth through various classes of investment including properties. They have vast knowledge, skills and experience in investing and able to continue create wealth even after their retirement but may be at a slower pace. They are shrewd investors during their lifetime.

No comments:

Post a Comment

Related Posts with Thumbnails