So Far, And Yet So Far…
Finally, CFA Level 1 Exam is behind us! Let’s hope that we won’t need to go through the same thing all over again for December 
So back to our regular programming here: net worth! Recently I took another look at my current net worth, which has been going up and down thanks to currency fluctuations, but has been generally going up. The problem is, it’s still too far. I’ve been working on this for about a year now (I started this whole thing August last year), and I’m still short of S$4,307,334. That’s a LOT of money to be made in the remaining 9 years!
Now, if I were Warren Buffett working during the years between 1965 to 2007, getting a return of 21.1% on my money year after year (a feat in the past that Buffett himself said: “can’t be duplicated or even approached“), then… I’m pretty much set. Just work hard, be good, live well beyond my means for 9 years, and this 5m10y project will become reality!
With a much more realistic return of 5%, though, I need to put in roughly SGD400k (US$250k) a year to hit my target. Which is wayyyyy above what I earn in an entire year!
Ahhh. So far, and yet so far.
January 14th, 2010 at 5:23 pm
I stumbled on your website googling for CFA posts. Good luck to you in the remaining 9 years! You did well in your first year…I’m assuming you started at nearly zero?
Up until recently, I also believed I’d be stopping at 5mil, hopefully before age 45. But as my net worth is going in reverse due to real estate declines, I’m trying to convince myself that I can retire with 2m, in which case I’d be halfway home.