facebook26 years old just started working with less than $1.5K take home pay right after national service. How much should he be saving already? Is 20K good enough? And should he find a better job or stick for another year for a better portfolio? - Seedly

Mimi Jasman

Customer Service Officer at DHL PTE LTD

19 Jun 2020

Career

26 years old just started working with less than $1.5K take home pay right after national service. How much should he be saving already? Is 20K good enough? And should he find a better job or stick for another year for a better portfolio?

26 years old just started working with less than $1.5K take home pay right after national service and have been working for almost a year for his full time career but in the F&B sector.

Discussion (7)

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Try to aim to progress higher in your F&B?

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Even in f&B 1.5k is too low.. unless its an internship?

Clarence Chua

15 May 2019

Financial Planning Specialist at Prudential Assurance Singapore

Depending on his fixed expenses his savings will varies. A good amount of savings will be 20% of whatever income earned.

Its hard to say if he should find another job. Where does he wants to be at say 5 years down the road? Works towards that and invest in himself to get the necessary skills. In between the 5 years, sure he can switch job for a higher paying one or ask for a raise with the existing company, but the ultimately he should be working towards his Goals.

Everyone has different starting point so there isnt a guage as how much we 'should' have at x age. I...

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