Retire early with $1 Million OR keep working to $10 Million at age40?

A fresh grad who is supposedly earning a lot asked this question "Retire with one million at age30 OR ten million at age40 in Singapore?". What life advice is suitable?
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0:00 Introduction
1:17 High income occupation
3:27 Retiring at age30 with one million dollars
5:20 Aiming for $10m
6:58 Self esteem
8:10 My conclusion
#retirement #retire #financialfreedom
Article: investmentmoats.com/financial...
We do not make any recommendations on whether a security is a buy/sell as every investor has different investment goals and risk profiles. The presentation of ideas from Josh Tan and TheAstuteParent are strictly for education purposes. You are advised to perform independent research yourself or seek a qualified financial adviser. We will not be liable for any losses directly or indirectly from the material. Some of the referral links in the video summary are products and services personally used by Josh Tan and they may pay an affiliate commission or referral bonus.
It is not an endorsement of the product unless explicitly stated and we will not be liable for any losses. The content in this video and any promotions mentioned is accurate as of the posting date.
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About Josh Tan:
Josh holds a degree in Accounting from NTU. In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips.
As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.
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[@futurederrick]

There's always quality in your presentation

[@joshconsultancy]

Thank you for the high praise Derrick

[@damyeuful]

Very prudent advise. Enjoy the journey as time lost can never be replaced. Money can possibly be earned again as long as we have the will and drive

[@joshconsultancy]

Yes. Share the message for someone who should hear too

[@MaxGarmin]

Words of wisdom….thanks for the unsights….really enlightening.

[@joshconsultancy]

Thank you for the high praise @MaxGarmin

[@gracetay2710]

Excellent food for thought.

[@joshconsultancy]

Thank you and glad you liked it =)

[@BomBomm12345]

the irony in life is in our 20s to 50s.. we spend our time chasing money in exchange for time but come 60s and beyond.. we spend money in exchange for time to prolong life..

[@joshconsultancy]

Well said

[@tayjeeyew6718]

I believe that is life. Make ur decision wisely.

[@lohfk2172]

What a wisdom!

[@joshconsultancy]

Happy it was useful 🙂

[@kinboon3138]

Well said.

[@joshconsultancy]

Thank you. Share w someone who should hear too

[@SAMYMuslc]

Management consultants from MBB don’t earn 5digits for starting pay. 7-8 is possible

[@joshconsultancy]

7-8k is todays starting pay OR when year when you were graduating?

[@SAMYMuslc]

@@joshconsultancy todays starting pay

[@DonYang73]

I have a networth north of $10mil but i am still working. Singapore damn sad place, man….😢

[@joshconsultancy]

Maybe you enjoy ur work hence not retiring is ok :)

[@sek898]

will be tough to secure housing loan w/o income unless he/she settle for HDB and lead a frugal life

[@joshconsultancy]

If $1m and need home and retire from age30, yes the frugality part will be crucial

[@nswnsw6874]

A lot of these “skilled foreigners” are not really so skilled. Probably more skilled in “saying a lot but nothing at all.”

[@joshconsultancy]

oops...

[@liehuayoung1165]

With sgd10 million net worth do u think qualify the top 0.1%in singapore?

[@joshconsultancy]

Maybe not yet... but being top 0.1% wealthy isnt the life goal for most of us?

[@liehuayoung1165]

Correct,top0.1wealth isn't a life goal but just interested to know with my current wealth where do I stand as a whole in singapore.

[@magnetsg]

Retire at 30 doesn't not make sense. These people still work, they just do what they like to do.

[@bloggeraldwin]

when old nothing to DO only NEED to excerise to eat

[@jironghuang4895]

1m not enough. Reach for 10.

[@joshconsultancy]

Vote noted

[@tintan1688]

@@joshconsultancy I bet there not even many % "$100K cash in the bank" distribution population here at tender age of 20 to 40 years old. We are perhaps merely assets rich 1 million with property. Let us be realistic down to earth earn and save your first $100K cash and after which will be easier to accumulate wealth via perhaps investment etc. Agree with Josh don't aim that million blindly.

[@tedchandran]

Jai Hinduja. Don't lie down flat. Only consider to Retire with 1 billion, otherwise keep working.

[@joshconsultancy]

what! lol

[@TheHumbleChartist]

Interesting sharing

[@joshconsultancy]

Thanks THC

[@yipkf18]

Well said.

[@joshconsultancy]

Happy it was useful =)

[@yipkf18]

I remembered there is an incident of a doctor passed away very young at 40plus. He chased for wealth and only think money 💰.