How do you save for big ticket item like HDB?

Hi there. I am 25 this year and have been working for close to 6 months now. At this moment, I have already built up 6 months of emergency savings and am channeling my excess cash flow (salary minus expenses) to ETFs. But how should I allocate my savings for HDB if I intend to purchase it when I am 35?

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LLy

30 Mar 2021

How about working out the amount your house may cost? (Flat will cost vastly with different areas/locations, & different size/floor areas)
From there, with that end figure, you can better decide the returns you need, and hence the risk you can afford to take to obtain that ultimate amount by 35yo.

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Zac

27 Mar 2021

Noob at Idiots Invest

My approach is similar to the lurking ham's. By the time you hit 35, you should (1) have enough in OA for down payment and (2) have increased your income sufficiently such that your monthly CPF contributions can pay most if not all of your mortgage payments.

Like what the ham suggests, please buy something within your means.

The thing to do now is to increase those means so that you can afford a better home in a good location rather than buy cheap and be stuck in a suboptimal location.

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Carly

27 Mar 2021

With 10 years of working experience from the age of 25 to 35 I think you would have sufficient CPF t...

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