facebookDo i need a certain amount of money to start making money work for me? How much should i earn per month to be considered wealthy? - Seedly

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Anonymous

18 Apr 2019

Random

Do i need a certain amount of money to start making money work for me? How much should i earn per month to be considered wealthy?

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

You can start as low as $100 per month by setting up a regular savings plan with POSB or OCBC

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.

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.

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.

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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