7 Personal Thoughts on Hitting the Half-Millionaire Mark

covertbriar

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Wanted to pen down my quick thoughts on hitting this milestone, as I figured this would be interesting for those who have similar financial goals.

1)I was super excited when I crossed this number during my monthly reconciliation process.

2) That excitement lasted for just 1 day – life continued to be the same. I wake up, brush my teeth, feed my baby, eat the same food, work and chat with the same people, watch TV, spend time on my hobbies, and go to sleep.

3) I was much more excited as I reviewed this blog and realized that my assets have grown ~$200k in less than a year (see my financial milestones posts). This made me realized a few things: a) I always felt that my financial condition was not changing when I was looking at my numbers on a day-to-day basis; b) but with a longer time horizon, the perspective became clearer. It is a long game of discipline, boring but critical, and when done consistently overtime, the results do show.

4) I started projecting forward on my next milestones. Well, what can I say, I am human – always looking forward and always planning for the next steps. Never satisfied. Never enough.

5) I start to really wonder what I would do when I hit my FI number. “Will the one more year syndrome kick in?”, “Should I hit a bigger number to FATFire?”

6) Still felt equally worried about losing my job, despite the huge cushion I have built.

7) With 6, started dreaming more on what should I really do if I do get fired. Something that feeds the soul more than feeding the bank account.

In all, felt really grateful and privileged to be in this position.

Godspeed and stay ****ed.
 
congratulations! altogether now!!! HUAT AH!!!
 
in before ze many 8-digit high net worth multi millionaires who roam this forum :biggrin:
 
Congratulations but you still have a while to go before you achieve financial independence. You'll arrive at that point when you hit the $3 million mark.
 
500k SGD is nothing, whether it includes the HDB apartment or not, CPF or not.

Once upon a time, I was very happy when I hit the 300k mark and thought can retire already. Starting salary only 1.8k for NUS grad from sought after faculty and still must deduct CPF somemore! Those bloodsuckers! So, suddenly got SGD 300k feel very shiok. Walk also got different style, but the bubble was quickly blown...

3 million SGD (free cash) mark may be required in Red Dot, but if in say JB or KL, then 2 million SGD is more than sufficient:

- cluster house in Eco Spring, MYR 1.1 million or SGD 360k

- honda city sedan, MYR 80k or SGD 26k

- house renovation, MYR 150k or SGD 50k

- cash and investments, SGD 1.6 million or MYR 4.8 million @ 3% = approximately MYR 12k per month for living expenses

- MYR 7k per month should suffice for living expenses for two, MYR 5k per month or MYR 60k say SGD 20k per year for holidays planned expenses (change car every 10 years)

- Can make do with less if buy condo instead (less than one million MYR only in Medini can)

I am sure Thailand or similar also doable.
 
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