Anonymous
I'll be turning 30 this year and my goal is to slow down in life when i hit 45. Currently i have 40k+ investments, insurance. I'm able to set aside $300/mth to investments.
Am i on the right track? I'm currently invested in high growth etf, ssb, <10 stocks.
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Chin Guo Qiang
Edited 10 Dec 2023
Assistant Vice President, IT EUC at OCBC
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It depends on your lifestyle needs also, but just be careful when lifestyle inflation when your income increases.
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Hi, I think you can try out this retirement calculator to see if you are on track.
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You You should look at how much u want per month when retire and work out whether you rely on SWR or dividend passive as income.
Get the figure and work backwards to see how much u need per month and how much your money need to compound.
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Only time can tell whether your investments pan out as planned. No one would have guessed that such ...
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I am on a similar track as you, but with the following instead.
Investments : SSB + CPF-IS scheme (via Insurance agency)
Side Investment (ILP-based) : $600 / mth
Side Investment (CPF-IS via OA) : Lump sum as and when preferred.
Might want to consider a small pool of money for skills upgrading, so that your work income at age 40+ will still be decent and maybe improving along the way.
Passive income wise, please check with your insurance agent, they might have a good wealth generating passive plans for your specific needs.