The Need to Invest

[Temperament]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

It's all on how prudent and determined is the family. Consider a graduate couple both start working at 25, each earning an average salary of $50,000 per annum over 15years, they should have earned a total of $1,500,000 when they are 40. Take $500,000 divide by 15 gives $33,333 a year of average spending, or $3000 a month. Is that too much or little?

Definitely too little at today cost of living. Especially if you have more than one kids and schooling too. Not to mention about occasional leisure outings. You and your family need to live the nows too. Though you have to invest for the future.