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Jonathan Chia Guangrong
07 Jun 2019
SOC at Local FI
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Eric Chia
07 Jun 2019
Senior Financial Consultant at Prudential
Sorry I'm going to give a geeky answer - please don't downvote me for this!
To get savings of $1million by age 55 when you are 35 now, I'm making the following assumptions:
Here's the calculations (courtesy of https://www.calculator.net/finance-calculator.html)
Personally I think items 3 is do-able - need a stretch there. Item 2 would be an issue unless you are willing to take risks. The best instrument I know to generate this is via shares.
The longer you wait, the more money you'll need to pump in. People forget investments is time sensitive - you need time for money to grow.
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Hariz Arthur Maloy
13 Sep 2018
Independent Financial Advisor at Promiseland Independent
Either invest 2k a month at 8% per annum. Or 20% of your income at 14% per annum.
It's just math si...
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This is what I intend to do for my own retirement. May not be for everyone though, depending on individual risk appetite. 5k USD a year channelled into an offshore brokerage account and sell options on stocks to generate >30%p.a and compound from there. In 20 years, you should have over $9 million in your account. Which you can draw down 4% a year for retirement expenses, or consider shifting into dividend king / aristocrat stocks for passive dividends.