Andrea an avg Singaporean earns $3-4k which post CPF gets 2-2.5k in hand. Save 10% of that is about $200-250 per month or 2400 - 3000 per year. So you work 30yrs and you would have saved 90k with the modest 1-3% returns one might hit $100k to $110k after 30yrs. Which say you want to draw down 1000 per month this 100-110k will last you 10yrs. So let's set realistic goals and I fully agree that it is never too late.
1) You assume salary stays stagnant for 30 years, highly unlikely for most people. 2) Saving won’t bring you anywhere near retirement, learn to invest is the key!
lmao this guy say 3-4k starting pay and manage to invest 100k in 2 years... even assuming 3 month bonus & 4k pay means he need to save 100% take home (after cpf deductions) to save 100k in 24months. conclusion: 1) investment brought significant returns during the 2 years (which he did not say) 2) bonus is like 6months+ (which he did not say) 3) 2nd year he earn more than double of his first (which he did not say) ...
100k portfolio 2 years into his first job of 3-4k? This man's education is not that cheap, especially with a MBA. Probably spent close to 150-200k during this period (not sure if he had scholarships). Put simple math into this equation. Practically how much can you save during school days (even if you work part time). He probably burnt all HIS PARENTS' money and then share his story of investing into a 100k portfolio without even a need to pay a dime. I call these kinds of interview bullsh*t. That's like having someone like Elon Musk or Jeff.B as your dad, the rest you know it.
Dexter say if you earn 3-4k per month, you’ll reach 100K in a couple of years. Pls show me this black magic.
Definition of “a couple” = 20-30
Save 10%…. So, u decide if this guest is worth listening to…
Need at least 20yrs to reach 100k if save 3-4K per annum.
Congratulations!
be grateful you have 100,000 dollars
where does the 100k invest into e.g. equity 75% , bond %? etc.?
Andrea an avg Singaporean earns $3-4k which post CPF gets 2-2.5k in hand. Save 10% of that is about $200-250 per month or 2400 - 3000 per year. So you work 30yrs and you would have saved 90k with the modest 1-3% returns one might hit $100k to $110k after 30yrs. Which say you want to draw down 1000 per month this 100-110k will last you 10yrs. So let's set realistic goals and I fully agree that it is never too late.
1) You assume salary stays stagnant for 30 years, highly unlikely for most people.
2) Saving won’t bring you anywhere near retirement, learn to invest is the key!
stay poor mentality
buy stocks which give you dividens on most of the years.
My first $100k would be to buy a new COE! 🎉😊😊👍
$100k is just enough for cat A coe; to purchase certification record stored in their database.
What is a "coe"? I don't find this in Standard English. Thank you.
a paper to own a vehicle in sg, can try adding "Singapore" when searching "coe"
@@davidb2206 certificate of entitlement
lmao this guy say 3-4k starting pay and manage to invest 100k in 2 years... even assuming 3 month bonus & 4k pay means he need to save 100% take home (after cpf deductions) to save 100k in 24months.
conclusion:
1) investment brought significant returns during the 2 years (which he did not say)
2) bonus is like 6months+ (which he did not say)
3) 2nd year he earn more than double of his first (which he did not say)
...
I think he took a loan against his investment and leveraged. 100k in 2 years is very doable, but very risky.
Just follow the ramsey method, baby steps, and get debt-free as soon as possible. It's not more complicated than that.
ramsey is good to clear your debt. not for growing your wealth.
We're headed into a hard asset world. Plan accordingly.
May I know what is hard asset ?
@emedlearning9035 something that cannot be printed. Oil, gas, precious metals and cryptos.
100k portfolio 2 years into his first job of 3-4k? This man's education is not that cheap, especially with a MBA. Probably spent close to 150-200k during this period (not sure if he had scholarships). Put simple math into this equation. Practically how much can you save during school days (even if you work part time). He probably burnt all HIS PARENTS' money and then share his story of investing into a 100k portfolio without even a need to pay a dime. I call these kinds of interview bullsh*t. That's like having someone like Elon Musk or Jeff.B as your dad, the rest you know it.
100k is nth nowadays :D
Have more lovers lor 😂😂
Hilarious, $100k is a goal to some people. I earned my first $100k even before my 20s.
Made my first $100k before i turned 18..it’s spare change to me..