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Anonymous
do i need a certain amount of money to start making money work for me? how much should i earn per/month consider wealthy? i have no background basics, really don't know where to start
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Gabriel
21 Sep 2018
Undergraduate at National University of Singapore
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Kenichi Xi
21 Sep 2018
nᴉʍ oʇ dǝnᴉʇsǝd 不能说的秘密 at Tag Team with Gabriel Tham
Just using $10k for an example,
If your mobile bill is $50 per month and that is $600 per year.
A 6% dividend yield vehicle with $10k, will generate $600 which covers ur mobile bill expense.
A DOLLAR saved is A DOLLAR EARNED.
Wealth does not only comes from how much you earn but how much you SAVE before you SPEND.
Focusing on Savings with a PURPOSES and let that purposes grow wealth for you.
At the same time, you get to save more and enjoy life a little bit better too.
Hope my reply helps.
If you feel this reply have Quality, please upvote and check other Quality Reply.
https://seedly.sg/profile/a-kenichi-xi
Thank you.
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Jeff Yeo
21 Sep 2018
amateur Social contributor at School of social sharing
You can do dollar cost averaging to the STI at 100 a month that is the cheapest way to start investment
I think you should change your focus from “consider wealthy “ to a sustainable lifestyle
your lifestyle will determine how much money you send and that would be in a direct relation to how much you earn.
As Long as you keep you expenses in check and not live a lifestyle that you can’t afford then you are in a stable state.
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U can start investing even if u don't have alot, just start with smaller amounts. Depends on your definition wealthy. The median household income in 2017 is about $9k.
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Jay Liu
18 Sep 2018
Accounting and Finance at ACCA
If you're able to set aside just $100, you just some invest in STI ETF. If you have more money, you ...
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You can start as low as $100 per month by setting up a regular savings plan with POSB or OCBC