In December 2020, I crossed S$1 million in net worth. It was culmination of grinding for years.
Early last month, October 2025, less than 5 years later, I cracked S$2,000,000 in net worth.
Let me tell you the scariest part. Absolutely nothing has changed.
I’m an average Singaporean. I hold a regular job, I didn't start with a silver spoon, and yes, I still eat cai png for lunch almost everyday.
While enjoying 'me' time, I still sit half naked in boxers on my couch watching YouTube, tune in to free streaming sites to watch laggy English Premier League soccer. I don’t wear a watch nor use the latest iPhone. No celebration nor parties.
This milestone isn't just about the number. It's about proving that the system—the one we all navigate in this expensive, beautiful city—can work. It took years of disciplined work, calculated risk, and frankly, obsessing over my meagre spending.
Most people think achieving $2M means liberation. For me, it means affirmation. Affirmation that the extreme, counter-cultural lifestyle I adopted—the one everyone told me was "too much" or "not worth it" - is the accelerator pedal to true wealth and freedom of choices.
The journey from $1M to $2M is different from the journey to $1M. The first million is about sacrifice and grit. The second is about leverage and discipline.
But here is the most important lesson I learned that will make this post different from all the others: The real secret to hitting $2M wasn't just working harder; it was making my money work exponentially harder than me.
Here are the 5 non-negotiable principles I used to double my net worth in record time, and why they are contrarian to what most people believe.
Principle 1: The CPF Supercharge—The Passive Money Machine
This is the most controversial pillar, but it’s the bedrock of wealth creation in Singapore: CPF.
Most people view their Central Provident Fund as a forced retirement savings account or, worse, "locked-up cash." I view it as a guaranteed, tax-free Guaranteed Investment Contract.
Here's my controversial take: Maximize your CPF Special Account (SA) as early as possible.
- The Power of 4%: Your SA gives you a risk-free interest rate of up to 4% per annum. Where else can you get that? When I started work, I aggressively top-up my SA to the prevailing retirement sum limit every single year using the Retirement Sum Topping-Up Scheme (RSTU). Not only does this lock in the 4% compound interest, but it also gives me a dollar-for-dollar tax relief on my income. After hitting the full retirement sum (FRS), your SA should be able to compound at a rate to catch up with the ever-increasing FRS to ensure that you could withdraw excess funds above FRS when you reach age 55.
- The Magic of Retirement: By treating my CPF as my fundamental retirement engine, I can free up my risk capital (the cash portion) to chase higher returns. It's the ultimate financial safety net, and I intentionally pushed the boundaries of its growth.
Principle 2: The REITs Anchor—Becoming a Singaporean Landlord
Once the CPF was humming along, I needed cash-flow investments. For me, that meant becoming a serial investor in Singapore REITs (Real Estate Investment Trusts).
Why REITs over physical property (especially in this market)?
- Low Barrier to Entry: I don't need $500K for a downpayment. I can buy a stake in a mall or a logistics hub for a few thousand dollars.
- Liquidity: If I need cash, I can sell my REIT units in seconds on the SGX. Try selling a condo in a hurry.
- Dividend Focus: REITs are legally required to distribute at least 90% of their taxable income, which translates to juicy, regular dividend payments.
My strategy was simple: Buy Blue-Chip, Diversified REITs on Dips, and aggressively DRIP (Dividend Reinvestment Plan). Every cent of dividend income went straight back into buying more units. This created a powerful snowball effect, turning my investments into my biggest source of "new money."
Alternative strategy of investment would be to consistently invest in S&P 500 exchange traded funds or the likes of highly profitable US stocks including the likes of tech giants NVIDIA, Microsoft, Amazon, Alphabet, Meta and so on. As the US stock market only heads up over the long-term horizon, investing in it can make your money compound and grow. I regret that I did not invest heavily in US stocks during the pandemic as back them, my focus was on growing dividends for cashflow and passive income.
Principle 3: The Unpopular Grind—Frugality as the Ultimate "Hack"
This is where the real work and grind comes in, and it's the part nobody wants to hear: You can't invest what you don't save.
I was frugal. Not "I only drink tap water" frugal, but intentionally anti-inflation frugal.
- Mindful Spending, Not Miserly Living: I still traveled, but I can use credit card miles and stayed in hostels or 3-star hotels instead of luxury hotels. I still ate out, but used hawker centres or food courts for 90% of my meals.
- The "Work More" Grind: Yes, I put in the hours at my main job to increase my income. I made sure I contributed to my company, grinded for pay increment every year, and strived to achieve promotion before my salary hits the ceiling cap.
- The 80% Rule: For the bulk of my wealth-building phase, I aimed to save and invest at least 80% of my take-home pay. This high savings rate is the ultimate financial cheat code. It's the only way to accelerate past years of potential lost returns.
This is the most unpopular move: for the past decades, I have capped my monthly expenses (food, utilities, transport, insurance) at below S$1,000.
You cannot beat inflation if you succumb to lifestyle inflation. By keeping my spending flat for 20 years, every single pay raise, bonus, and dividend I earned became pure, unadulterated investment fuel.
The Value Equation: I am not cheap; I pay for value. A $5 hawker meal that fuels my day and gives me peace of mind is better value than a $300 fine dining experience that brings temporary vanity.
Beating Inflation: My expenses are immune to inflation because my lifestyle is already at a "poverty level" that allows me to save an obscene percentage of my income. This high savings rate is the only way to accelerate from $1M to $2M.
Principle 4: Solitude is the Ultimate Financial Superpower
I am an anti-social introvert. I skip almost every gathering, wedding, party, and social obligation that costs money. I do not need friends. People think I'm anti-social and they are right. I think I live in my own world.
Time Arbitrage: Every evening saved from "hanging out" is time invested in researching my portfolio, reading, strategizing my investments, or simply getting high-quality “me” time.
Zero Obligation Tax: By avoiding social events, I skip the implicit tax of gifts, pricey dinners, clubbing, and keeping up appearances. That money goes directly into my investment account.
My solitude isn't a personality flaw; it's a massive cash injection into my net worth every month. You can't spend money if you’re happily at home in your boxers.
Principle 5: The Essentialist Career - Trading Passion for Fuel
Despite a strong interest in finance, I chose an Engineering/IT path in university. Why? Because my mother told me to choose a technical discipline in an essential service—one that is defensive and future-ready.
Security Funds Risk: My stable, consistent income from an essential IT role (even during the COVID-19 Circuit Breaker) was the rock-solid foundation that allowed me to be a more aggressive, long-term investor.
No Money, No Freedom: In this capitalist society, passion is a luxury. I chose to secure the money first to buy the freedom to pursue my passion later. My day job is the engine that consistently pumps cash into my portfolio.
The Ultimate Luxury: The Reclaming of Time
My journey proves that you don't need a high-risk startup or a massive inheritance. You need extreme discipline, strategic asset allocation (CPF + REITs), and the courage to ignore everyone who tells you to stop eating $3 food with tap water.
The greatest luxury is sleeping soundly knowing your money is working harder than you are.
The New Goal: From $2M to Financial Freedom
Reaching $2M isn't the finish line; it’s the launchpad.
The momentum I built is now powerful enough to declare true Financial Independence (FIRE), where the dividends and interest I earn already cover my annual expenses.
If I can do this in one of the most expensive cities in the world, you absolutely can too. Stop thinking of the grind as the only way to earn money. Start building your own passive money machine using the tools Singapore gives you—the CPF and the SGX.
This $2M net worth journey taught me this: The smartest money move you can make is putting your ego aside, utilizing every tax-advantaged tool available, and letting compound interest do the heavy lifting.
I look forward to the next milestone at $3M with $1M investment portfolio generating at least $60k in annual passive income, progressing towards FAT FIRE by end of 2028.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. It's crucial to conduct your own research or consult with a qualified financial advisor before making any investment decisions.
