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FIRE Movement

Financial Independence, Retire Early

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John Smiths
John Smiths, Tax at Local bank in Singapore
Level 5. Genius
Answered 18h ago
That's a good article to go on and it's basically about earning more active income (such as salary and side income) and passive income (such as dividend and rent) or start earning business income. On top of that, cut your expenses too. Ask your friend to first choose the route that works best for him and commit to it. Otherwise, it's easy to get lost in your approach and end up in a worse position.

FIRE Movement

Investments

Education

Stocks Discussion

Hi anon, Perhaps you would like to elaborate a little on your current situation so that a more specific answer can be given. A more accurate picture really should take into account factors such as your current age, assets, liabilities, portfolio, cashflow, etc. However, if you don't feel comfortable to share, I will do my best to send you some guidelines to work on - What should I be looking at investing in? Asset classes have two broad forms, guaranteed and variable. Or you can look at asset classes as those with growth and those with income. Which suits you more depends on your goal. If you are near retirement, you should focus more on income assets. Growth assets would work if you have the ability to cope with more risk or have more time to grow them - How should I distribute my cash? Again, this is dependent on your investment goals, as I mentioned above. However, I can say this: Don't throw everything into a single asset class. Diversify. - What should I have set up before I start investing? A multi asset investment account, and a CDP account. Plus, nerves of steel, since you're about to start something that you've never done before. - What are some educational tools that I can use and look at before I start investing? The seedly website has a number of good articles for beginners. Hope that helps.

FIRE Movement

Retirement

Savings

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered 5d ago
Shoutout to Tree of Prosperity and Investment Moats

Lifestyle

Career

FIRE Movement

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered on 28 Nov 2019
Pursue fulfilment in life. Find more hobbies and learn. I want to learn cooking, tea ceremony, visit more countries.

Insurance

Retirement

Lifestyle

FIRE Movement

Hi Anon, I have a comparison table for retirement income policies available from multiple insurers. This is just a quick screenshot. ! It states the different projected and guaranteed yields and the payout you can expect. Do rop me a message on FB if you'd like a copy or you can email me at [email protected] The earlier you start, the higher your payout. Most of these plans can give you a 4.1-4.6% projected IRR if you start earlier. :)
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FIRE Movement

Investments

The most reasonable rate of return for any investment tool is the rate that fulfils your needs at a risk level that you can tolerate. Since different individuals have different risk appetite, there is no general returns that can be considered safe. For instance, Singapore Savings Bonds is a relatively safe asset that yields 1.76% for a 10-year tenure. To some investors, this is reasonable since it is a relatively safe asset. However, others may have a different opinion since CPF yields a base rate of 2.5% per annum. Here is everything about me and what I do best.

Retirement

FIRE Movement

Career

Yes there has been millionaires by 30. There are a few ways to be a millionaire by 30: 1) Born into a rich family 2) Marry a rich person 3) Started your own business and became successful 4) Learn how to do proper and sustainable investing at a younger age 5) Learn high value skillset at a young age and save hard

FIRE Movement

SG Budget Babe

Healthcare

Education

Junus Eu
Junus Eu
Top Contributor

Top Contributor (Dec)

Level 9. God of Wisdom
Answered on 02 Dec 2019
If you look at the overseas FIRE advocates, some of them have kids too. Therefore, it is possible, but you would probably need to have a very supportive spouse and kids who are fully on board with the idea.

FIRE Movement

Investments

Retirement

If you are looking at index ETFs then online broker offering access to London market such as Saxo/Interactive Brokers will meet your need.

Investments

FIRE Movement

Savings

Paridhi Jhunjhunwala
Paridhi Jhunjhunwala, Associate at Kristal.AI
Level 7. Grand Master
Answered on 11 Nov 2019
Hi! Looking at your situation, the entire 50-60K can be used in investments and making your capital grow. To invest a large amount, you must diversify well, so that the portfolio can earn a sufficient return with a lower risk associated. A robo-advisor will provide you with a diversified portfolio to invest in based on your risk appetite and the amount of capital that you invest. I work at Kristal.AI, and it's my passion to evaluate various upcoming investment opportunities.
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