I have been reading, both online and offline on strategies which one can use to make a million of dollars, that is become a millionaire in our Singapore society. A million dollars is $1,000,000 and while one can save to achieve this million-dollar goal, for many with an average income say $4,000, it will take many years, especially after one deducts his or her monthly expenditure.
If one earns $4,000 and saves half of his or her income (which will work out to be $2,000), it will take that person about 42 years to achieve a million of dollars in his bank account. If that person starts young, he will be around 60 years old to achieve a million dollars in savings. However, we must not forget that in an average Singaporean’s lifetime, there will be large purchases needed, e.g. to buy a house, the education of one family, ......
