This is so unrealistic bro. The moment you buy BTO or resale your CPF plummets to the ground. Emergency funds still ok, investments still ok, but cash up to 6 digits for a salaryman? You're delusional
Always good to have financial milestones to aim for. Without milestones, it will be aimless drifting when it comes to savings and investment. Thanks Kelvin for the video! 👍
Start working at 24. Every year save 25k from annual salary and bonus. By 30, 150k or more if compounded. Try FIRE approach, reduce spending and increase savings. It takes a lot of discipline, but definitely achievable. It’s possible because most folks in their 20s still live with their parents. No rent payments. Then don’t buy car - use public transport. If you want to be financially free earlier, there will need to be sacrifices.
@@kingseiryu929 it’s not just about savings. It’s also about investment. If by 30 you already saved 150k, and you park that money into 5% returns investment, that’s passive if 7.5k per year. Then you should be thinking of upping the target for savings from 25k to 35k to 45k per year given that you now have passive income, higher salary and bonuses. So as you move up the corporate ladder, you build up more and more passive and more savings in terms of quantum. Salary will start to plateau at around age 50. You must do all you can to save and invest before 50 and build passive income. People say where got 5% safe investments but AstreaVII USD local listed when launched was 6%. Now price went up 5% so not the same ROI. But there will always be next tranche. CPF at 4 to 5% is risk free. Top up. Buy HDB don’t rent, safest bet to earn 1st bucket of gold. I know of people buying 3 room at 200k and the value rises to 400k in mere 6 years. Basically staying for free and getting paid 100% ROI. One must make sacrifices when young to ensure happy early retirement. It doesn’t mean you have to be a Scrooge. Cheaper holidays to Malaysia, Thailand can be just as fun. Once in long while treat yourself to more exotic places when hit financial milestone as a pat on your back for persevering. You will see concrete results in 10 years
Just a comment on the salary range by age - the biggest mistake is to low ball when it comes to this. I know of so lany individuals making 5 figure in singapore . I think we Singaporeans needs to stop low balling.
Where else can you find almost risk free long term investments that pay 4 to 5% returns? Risk free means you have peace of mind putting money in CPF. Money in savings is negative growth, money in stocks may fly away, money in bonds even bank bonds can also fly away. All things considered, parking a fixed amount of money into CPF is a defensive investment strategy
@hummit don't bother about all this nonsense trolls. In fact, they online can talk alot, but in reality, they might even be the ones keeping money in tbills, ssb and fixed deposits. Empty vessels makes the most noise.
@@hummit Have you heard of index funds? When you invest in the greater market instead of individual stocks, your capital is safe and can easily get more than 7% CAGR in the long-term.
Not right lay, save and save then dun spend and enjoy in ur 20s and 30s? Muz spend to travel.. buy tht sports car, buy that watch/home and spend on Reno..$$$ will come back.. time and youth will not.. bad bad info..saying this at 45.
Waste time think too much abt saving for all average salary income man or woman ...unless for.those salary above 6k single ...SINGAPORE already spoilt us to.spend and spend conveniently even having cup of coffee at coffeeshop is so easy ....we should just spend within our bughet thats it ..for ppl over 45yrs old earning less than 5k ..dont need think too much of saving ...pay here n there bo liao
you can either choose to live with a victim mindset like this or live with a winner's mindset by finding more ways to make more money. your life your call.
Young people like to make travel plans and enjoy life at present moments. Saving is not the utmost in their mind since the body is weaker with age and will not be able to try adventurous things and esp food. It is better and useful for you to help the middle lower to lower income to plan ahead. They will need more sound advice. The well-to-do will have their own plans and their parents will help them along. Anyway there are more than one goal in life and retirement should not be the main. Statistically, half of the population will live pass 85 years old. So it is a bet of which half we will fall into.
@@KelvinLearnsInvestingOk, I just feel nowadays ppl are quite sick and tired of knowing how much savings they need to have at wat age and for retirement. In fact I think they are trying to NOT KNOW the figures! 😂 These vids are educational to get ppl to plan and adjust some sacrifices, but most ppl already know, just not willing… maybe more vids on how to grow wealth is better?
Alot of assumptions need to be pragmatised. Whilst your effort is commendable, it is at best used as a guide and not the most realistic unfortunately. Just focus on inculcating good behavior, not the numbers.
Difference in income BTW two countries is too large. It's almost insurmountable. The best way is probably to work in singapore, save and invest hard, then come back to use in malaysia
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This is so unrealistic bro.
The moment you buy BTO or resale your CPF plummets to the ground.
Emergency funds still ok, investments still ok, but cash up to 6 digits for a salaryman? You're delusional
Don't know where seedly get the info from.
Impossible for most singaporean.
i choked up when i saw the airplane window picture
🤣😂
Always good to have financial milestones to aim for. Without milestones, it will be aimless drifting when it comes to savings and investment.
Thanks Kelvin for the video! 👍
Anyway your programme always useful for some ..thanks
Do most 30 year old Singaporeans have 155k in savings and investments (excluding all cpf and any non cash or equity kind)? Sounds very high lop
Start working at 24. Every year save 25k from annual salary and bonus. By 30, 150k or more if compounded. Try FIRE approach, reduce spending and increase savings. It takes a lot of discipline, but definitely achievable.
It’s possible because most folks in their 20s still live with their parents. No rent payments. Then don’t buy car - use public transport. If you want to be financially free earlier, there will need to be sacrifices.
@@hummit how much savings by 35 like that if possible
@@kingseiryu929 it’s not just about savings. It’s also about investment. If by 30 you already saved 150k, and you park that money into 5% returns investment, that’s passive if 7.5k per year. Then you should be thinking of upping the target for savings from 25k to 35k to 45k per year given that you now have passive income, higher salary and bonuses. So as you move up the corporate ladder, you build up more and more passive and more savings in terms of quantum.
Salary will start to plateau at around age 50. You must do all you can to save and invest before 50 and build passive income.
People say where got 5% safe investments but AstreaVII USD local listed when launched was 6%. Now price went up 5% so not the same ROI. But there will always be next tranche. CPF at 4 to 5% is risk free. Top up. Buy HDB don’t rent, safest bet to earn 1st bucket of gold. I know of people buying 3 room at 200k and the value rises to 400k in mere 6 years. Basically staying for free and getting paid 100% ROI.
One must make sacrifices when young to ensure happy early retirement. It doesn’t mean you have to be a Scrooge. Cheaper holidays to Malaysia, Thailand can be just as fun. Once in long while treat yourself to more exotic places when hit financial milestone as a pat on your back for persevering. You will see concrete results in 10 years
Just a comment on the salary range by age - the biggest mistake is to low ball when it comes to this. I know of so lany individuals making 5 figure in singapore . I think we Singaporeans needs to stop low balling.
6:36 - the chart got error. how come at age 25, how much money you should have (investing at 4.% return p.a) is $667,001
How 10k per mth can save 300-400k even without spending a cents
4-5% interest rate from CPF enough to cover the inflation. If you don't get at least 7% from your investments, there's no good real growth.
Where else can you find almost risk free long term investments that pay 4 to 5% returns? Risk free means you have peace of mind putting money in CPF. Money in savings is negative growth, money in stocks may fly away, money in bonds even bank bonds can also fly away.
All things considered, parking a fixed amount of money into CPF is a defensive investment strategy
@hummit don't bother about all this nonsense trolls. In fact, they online can talk alot, but in reality, they might even be the ones keeping money in tbills, ssb and fixed deposits. Empty vessels makes the most noise.
CPF aren't meant to cover your lavish lifestyle. 😂😂
Nonsense. Where got 5% don’t cover inflation.
@@hummit Have you heard of index funds? When you invest in the greater market instead of individual stocks, your capital is safe and can easily get more than 7% CAGR in the long-term.
Above 55 will still not withdraw the excess of ERS. That will count towards the cash savings you are talking about ?
Kelvin ran out of video ideas liao. Start recycling
Sometimes got to balance with "Die with Zero" type of contents 😂
Hi Kelvin, when you mentioned amount of saving one should hav by number of X of annual salary, does it include CPF?
Doesn’t include
Hi Kelvin, when you say save x times of annual salary, this one includes net worth like properties, stocks or just dollars in cash?
Just cash n investments
6 months emergency is way too little. Minimum a year
Hi Kelvin, where do u use your interest calculator from ??
It's this one!
www.nerdwallet.com/calculator/compound-interest-calculator
Hi, you saying 30s but highlight 40s .
By 40 ma
Compounding power after 20 yrs u alrdy use tongkat, weak health..how to enjoy wealth early without waiting 20 yrs n can shake kaki..pls share
go casino. nothing else works if you dont have time.
how
Not right lay, save and save then dun spend and enjoy in ur 20s and 30s? Muz spend to travel.. buy tht sports car, buy that watch/home and spend on Reno..$$$ will come back.. time and youth will not.. bad bad info..saying this at 45.
Waste time think too much abt saving for all average salary income man or woman ...unless for.those salary above 6k single ...SINGAPORE already spoilt us to.spend and spend conveniently even having cup of coffee at coffeeshop is so easy ....we should just spend within our bughet thats it ..for ppl over 45yrs old earning less than 5k ..dont need think too much of saving ...pay here n there bo liao
you can either choose to live with a victim mindset like this or live with a winner's mindset by finding more ways to make more money. your life your call.
If you're earning 5k ish in your 45yo then you need to think what are u doing with your life
I hit "Like" when I saw the intro to DBS 🤣
Young people like to make travel plans and enjoy life at present moments. Saving is not the utmost in their mind since the body is weaker with age and will not be able to try adventurous things and esp food.
It is better and useful for you to help the middle lower to lower income to plan ahead. They will need more sound advice. The well-to-do will have their own plans and their parents will help them along. Anyway there are more than one goal in life and retirement should not be the main. Statistically, half of the population will live pass 85 years old. So it is a bet of which half we will fall into.
its not that hard guys, i alr saved more than 100k when I was 24
Kelvin ah, I feel tat the topics recently getting abit stale liao, or is it just me?
Currently focusing on ever green topics first, abit tied up with family matters
he is already moving to property. what else more you want leh?
@@KelvinLearnsInvestingOk, I just feel nowadays ppl are quite sick and tired of knowing how much savings they need to have at wat age and for retirement. In fact I think they are trying to NOT KNOW the figures! 😂
These vids are educational to get ppl to plan and adjust some sacrifices, but most ppl already know, just not willing… maybe more vids on how to grow wealth is better?
Alot of assumptions need to be pragmatised. Whilst your effort is commendable, it is at best used as a guide and not the most realistic unfortunately. Just focus on inculcating good behavior, not the numbers.
Ah boy ah. Not enough lah. Need $1.4M by 50.
2 fully paid houses also okay
Singaporean is generally a lot wealthier than Malaysian. Good on you guys
Agree
Try to budget and save up more… slow and steady can make it
Difference in income BTW two countries is too large. It's almost insurmountable. The best way is probably to work in singapore, save and invest hard, then come back to use in malaysia
@@limy0018 I agree 101% do come here to work for a good 15-18 years to compound your wealth. Also SG taxes lowest in the world. High disposable income
Market up, you buy
Market down, you cry a bit, then you buy more
😂😂😂😂😂😂😂😂😂😂 laugh die me
Hahaha
does your cpf savings range exclude morgage loan ?
It excludes, cos it's the amount in CPF