facebookI want to save about $370,000 in 10 years' time and stop work. I can start putting aside about $2400 towards savings and investments. But what's the best way to do this? - Seedly

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Anonymous

06 Mar 2020

Robo-Advisors

I want to save about $370,000 in 10 years' time and stop work. I can start putting aside about $2400 towards savings and investments. But what's the best way to do this?

Also, I've got a 3 room flat that I can continue to rent out after I stop work but I don't want to rely on it for an income. I took a HDB loan and I'm paying for it via my CPF. I'd feel more comfortable putting the rental income into my CPF.

AMA SG Young Investment

Discussion (17)

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I plugged your numbers into a compound calculator, used a conservative 8% yearly growth for Vanguard VOO or any low cost equities focused ETF / robo advisor equity portfolio.

In 10 years, with a monthly $2400 saving, you should have $450k.

If you have the discipline to stick to a gameplan, congrats, you've achieved your goal

Since you still have 10 years to go, you can invest in reits and stocks and over the long term, they should provide you with the captial gains to meet your goal. But before investing in any products, please make sure you do your own due dilligence.

Teo See Hwa

07 Jun 2019

MArketing Associate at Propnex

The Days where people use HDB as investment is getting smaller. I use to think HDB is the safest way for assest progression until I bought my first private investment property by chance and life have never been the same.

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Your money needs to earn 5% annually to hit $375K, so you could divide your $2400 between Autowealth and BCIP to be safe?

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Gabriel Tham

07 Jun 2019

Tag Team Member at Kenichi Tag Team

Work backwards. $370k/10 years = 37k/year = about 3k a month in savings.

So based on this calcul...

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