Actually other than achieving financial freedom, what is the purpose of accumulating 100k by 30 yrs old? Can I assume is for marriage & reno (80k per pax), pregnancy 20k & emergency & insurance (bal)?

Hi!

As someone who is at age 31, just got married and gotten the keys to my BTO, I feel that your assumption is just about right. But regarding achieving financial freedom, unless you are going to spend less than $2 a day for the rest of your life.. I don't think you have achieved it.

With 100k at the age when you are likely to be getting married, getting a house, it is definitely more than enough. When I say enough, it means spending within your limits and you do not have to take up any renovation loan/wedding loan, etc.

The cost of my wedding, back in early May, was less than $10k.

The estimated cost of my renovation is currently at $55k and including furniture and appliances of $15k, a total of $70k.

That leaves me with the remaining $20k for rainy days and others.

And if your partner is working as well, you would have more $$ to do other things such as investing or spending more on wants.

At the end of the day, I feel that the $100k at 30 is an achievable target for many and it will provide you with ample $$ to do the things you want to do. If you are able to achieve more, good for you, you are probably doing something right and should share it with us. If you aren't able to meet the target, don't be disheartened, it is plainly just a goal and a reminder for you to be spending within your means.

Bragging rights LOL

The whole point of hitting 100k by 30 is to teach you how to make that 100k. Once you learn how to, the next 100k becomes easier and easier. It's not an end goal, it's what habits you pickup to get there.

Enough time for investment to compound :)