Advertisement
Discussion (2)
Learn how to style your text
Pang Zhe Liang
26 Dec 2019
Lead of Research & Solutions at Havend Pte Ltd
Reply
Save
Hariz Arthur Maloy
26 Dec 2019
Independent Financial Advisor at Promiseland Independent
Well the range can be pretty huge. But if let's say you've been diligently saving 20% of your income and you started work at the age of 25, you should have at least 1 year's worth of income.
But a range between 1-3 year's of income wouldn't be too crazy.
But instead of trying to compare with others, just look at your own savings and spending habits. Hopefully whatever number you're at, you won't stop trying to earn more, spend better (not less), and save more.
Reply
Save
Write your thoughts
Related Articles
Related Posts
Related Posts
Advertisement
Firstly, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...
Assuming that you are not a heavy spender and do not have any liabilities on hand, you should be able to save at least half of your income every month. Depending on the age that you started work, you should be able to reach the goal of $100k by age 30.
Personally, I find that the best way to save my money is via automation and this is how I do mine: https://www.blog.pzl.sg/how-to-create-a-monthly...
Additionally, any bonus that is out of my basic income is always saved and not spent. If you are disciplined enough to follow through the process, you will have at least $100k by age 30 (assuming that you have worked for at least 5 years and draw a median salary of $3k).
Here is everything about me and what I do best.