Do i need a certain amount of money to start making money work for me? How much should i earn per month to be considered wealthy?

You can start as low as $100 per month by setting up a regular savings plan with POSB or OCBC

Just using $10k for an example,

​

If your mobile bill is $50 per month and that is $600 per year.

​

A 6% dividend yield vehicle with $10k, will generate $600 which covers ur mobile bill expense.

​

A DOLLAR saved is A DOLLAR EARNED.

​

Wealth does not only comes from how much you earn but how much you SAVE before you SPEND.

​

Focusing on Savings with a PURPOSES and let that purposes grow wealth for you.

​

At the same time, you get to save more and enjoy life a little bit better too.

​

Hope my reply helps.

If you feel this reply have Quality, please upvote and check other Quality Reply.

https://seedly.sg/profile/a-kenichi-xi

Thank you.

You can do dollar cost averaging to the STI at 100 a month that is the cheapest way to start investment

​

I think you should change your focus from “consider wealthy “ to a sustainable lifestyle

​

your lifestyle will determine how much money you send and that would be in a direct relation to how much you earn.

​

As Long as you keep you expenses in check and not live a lifestyle that you can’t afford then you are in a stable state.

​

U can start investing even if u don't have alot, just start with smaller amounts. Depends on your definition wealthy. The median household income in 2017 is about $9k.