A 9-to-5 millionaire shows how he increased his income

Shao Chun Chen Shao Chun Chen, a former Google employee and host of the YouTube channel “The 9 to 5 Millionaire Mindset”.

Courtesy of Shao Chun Chen

Shao Chun Chen built a seven-figure fortune by living below his means and investing regularly.

During his eight years at Google, he tripled his salary because he managed to work his way up to a management position.

His “attack-defense formula” for achieving financial freedom can be reduced to income minus expenses.

This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and reviewed by a real editor.

Shao Chun Chen is a “9-to-5 millionaire.” He didn’t start his own business or work multiple side jobs to earn his seven-figure fortune. Shao’s wealth is based on principles: He lived below his means and started, planned and regularly invested his savings. According to screenshots of his bank and brokerage accounts, which Business Insider (BI) was able to see, the millennial from Singapore now has a seven-figure portfolio.

After graduating from NTU Singapore in 2010, he started his career as an equity analyst at Merrill Lynch. In 2016, he joined Google. He tripled his salary within eight years. Shao explained in an interview with BI that the concept of a 9-to-5 job has a negative connotation these days. He said: “You imagine someone sitting in a cubicle or on an assembly line doing something they hate just to pay the bills.”

There is also a misconception that you have to risk everything if you want to achieve financial independence or build a seven-figure portfolio. He added: “A lot of people think you have to quit your job. Or you can’t work for anyone, you have to be your own employer and start your own business.”

Entrepreneurship can be lucrative, but it is far from the only path to wealth. Shao is convinced of this: “I believe that everyone who works 9-to-5 has the opportunity to be financially free.” And maybe even become a millionaire. “But it requires us to be much more conscious about how we use money,” says Shao.

Not everything went according to plan for him: He was affected by the mass layoffs at Google and was laid off in February 2024. But he had made some smart financial decisions throughout his career, so his layoff was not a major financial setback. He had invested enough to be able to live comfortably without a full-time job. He also now spends his days teaching on the side and building his YouTube channel “The 9 to 5 Millionaire Mindset.” Shao talked about the strategies he used to increase his income and achieve financial independence.