Becoming a millionaire by age 40 sounds like an ambitious goal, because many think that it requires a fat paycheck right out of school or amazing stock-picking abilities. However, true wealth can actually come from small, disciplined financial decisions made consistently over time. Before hitting seven figures, break it down into bite-sized, smaller milestones, like the first S$10,000. Achieving the first five-figure sum is the hardest part when you first start out, but it builds the foundation needed for long-term wealth.

Why the First S$10,000 Matters So Much

Accumulating your first S$10,000 requires everyday discipline, like skipping a few expensive weekend cafe brunches or holding back on phone upgrades just because a new model was dropped. This boundary builds important muscle memory. Upon achieving S$10,000, you transition from saving to investing. Your capital can now be deployed into the market to provide you with another stream of passive income alongside your salary. When this happens, you also fundamentally change how you view money....