How much Money do you need to Reach Financial Freedom

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Less than 0: Deficit
Age below 21
Living above your means
Spend more than you earn
E.g. students, high expectation people
0: Balance
Age 22-25
Living within your means
Spending = Salary a.k.a. moonlighter
Fresh grad paying student loans, newlywed couples paying for housing, wedding, renovation
1: Saver
Age 26-30
Living slightly below your means
Savings of 6 months salary at least
10-20% savings rate
Budget airline for holidays to nearby destinations
Junior staff after 2-3 years of full time work
6: Security
Age 31-40
Living below your means and have excess cash to invest
Emergency Savings of 6 month salary + Start to invest
20-50% Savings rate
Enough to make monthly investments of $500-$1000
Economy class to Asia Pacific region
Senior staff after 4-8 years of full time work
25: Independence
Age 41-55
Financial Portfolio that can cover 25 years of annual expenses aka. 4% Withdrawal rule
Passive income sufficiently covers expenses, with a little buffer
Savings rate significantly more than 50%
Premium Economy to Entire Asia + Middle East + Oceania
60: Freedom
Age 55 and above
Financial portfolio at 4% SWR can cover 5 years of annual expenses
E.g. spend $40K a year, portfolio = 40*5/4% = $5M Portfolio
Spending on luxury will not hurt your wallet
Business class flights to worldwide major airports
Infinity: Abundance
Too far away, first class around the world, Visit Antartica, go to space if you want
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[@HoneyMoneySG]

Sponsor: 🐂 Webull Singapore hmsg.link/sgwebull
📙 Advanced Credit Card Mastery Course: hmsg.link/accm
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🔭 Telegram Group: t.me/HoneyMoneySG
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[@MoneyOpulence]

This has been very insightful. I wish more RUclipsrs take the time to create quality content like this. Thanks for sharing this take.

[@LeakyBucketsg]

Once u buy a house, you are likely in financial deficit.

[@James-em7dv]

Not really, boy.
If you know how to use the loan as a good tool. ~~

[@trixst55]

I am financial deficit. I lose my job during the covid. I have debt such as credit card and housing loan. Currently just a get a new job in Singapore. Pay is quite low compare to others. How to increase my income level? I am working as a general worker here.

[@Nothingmore1313]

Cleared yr debt first. Save little for emergency funds so not to fall into another debt

[@peterlai6503]

Live humble life regardless high or low pay

[@bongsc5648]

Well said.
Keep it up.

[@KelvinLearnsInvesting]

First!!!!

[@enivre1717]

I am above 30 but still at Balance state. 🤣

[@mugenpower78]

you need assets to retire not fiat currency. the toilet paper will devalue itself in 30 years