18 Apr 2019
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
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.
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.
If you're able to set aside just $100, you just some invest in STI ETF. If you have more money, you ...
Read 5 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts