My income is not high like what other peers my age are earning and I am currently drawing only $5.5K. I’m 35 and I like this strategy that you are sharing. But is it too late for me to get 1M65 now? - Seedly
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AMA 1M65

CPF

Savings

Anonymous

Asked on 10 Jun 2020

My income is not high like what other peers my age are earning and I am currently drawing only $5.5K. I’m 35 and I like this strategy that you are sharing. But is it too late for me to get 1M65 now?

Any advice for me?

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Sharon
Sharon
Level 7. Grand Master
Answered on 15 Jun 2020

"Only $5.5K" sweatdrops

Your income level is above average.

You can make it!

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Hi Anon,

I did a simple calculation with the numbers you have given, and added some assumptions on my side.

The good news is that it should not be difficult for you to hit 1M65 in your current situation. However, more information will be needed to give a more accurate calculation.

As a quick advice, you should start looking for tools that can grow your money and do it now (eg. CPF for Mr Loo and his wife).

So it is not too late for you to get 1M65 now :)

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Loo Cheng Chuan
Loo Cheng Chuan
Level 6. Master
Answered on 11 Jun 2020

Better late than never.... you are still very young so hurry hurry....​​​

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Yang Teng
Yang Teng
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered on 10 Jun 2020

It is not entirely impossible since 1M65 has the assumption that the couple does not work from 30 to 65 and Mr Loo started out with about 2.3k starting pay. It will depend on your sacrifices to lifestyle choices (expenditure), salary growth, knowledge of personal finance, and getting a spouse.

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