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Anonymous

28 Aug 2020

Retirement

Is it possible for a diploma holder age 25 with no savings to reach 100k at 30?

Discussion (4)

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Casper Ho

28 Aug 2020

Regional Operation Manager at SciEcomm.com

Short answer is yes. Education will be less significant as you have more working experience.

Long answer is, it depends on what are you doing now, as long as you start planning today on how to reach 100k by 30, you are one step ahead than the others and closer to reach your goal.

Yes.

The fastest way is not to go towards the savings focus route. Saving has an immediate return on habitual change, but it has terrible return on time and effort. As such, you will need to develop both to get to a point where you have a good balance of financial prudence and earning power.

Instead, focus on getting skills which allow you to grow your income exponentially. And you need to identify trends way before people around you do. It is far easier hitting 100k by 30 when you earn 100k a year as compared to earning 48k a year.

There is no substitute for hard work, the person in the mirror will determine what kind of financial future you will have.

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Gideon Ng

14 Aug 2020

Blogger at FI Pharmacist

Hi Anon,

The first thing you can start doing is to calculate your savings rate. This can be done by...

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