I started work in September 2003. Achieved my 1st million in liquid net worth (excluding flat and car) in May 2019. That’s almost 16 years.
In contrast, the route to $1.5 million took only another 3 years. Based on my projections, I am on target to accumulate $2 million in 2025 and $3 million by 50 years old in 2029. This means 6 years for the 2nd million and another 4 years for the 3rd million.
Seems amazing isn’t it but it’s just simple math. I earn more over the years. With a larger base, my passive income increases accordingly. More money means more compounding and ultimately more money – a virtuous cycle.
People say the 1st million is the hardest. Maybe there is some truth to this.