Quote:
Originally Posted by chubbybastard
Bro, to get a $4k p.m. return means an annual return of $48k. Assuming that is the std 4% return means you must have capital of $1.2m. How many people can save $1.2m after deducting housing loans, kids, etc. I bet more than 50% of people in Singapore can't save that amount condsidering the median wage is $5k inc cpf or $10k per household.
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That is why for people like us not born with silver spoon, it is important to use CPF SA to it greatest effect, starting at an early age. My step 2 has already provided about 3K/month (75%) with CPF returns. Step 3 is to get another another 1K/month more to reach 4K (25%) or more. Anything I managed to accumulate in step 3 is a bonus to a better quality of retirement. I am sharing this for the benefit of under 30 years old because for old fart like myself, starting in our 40s maybe too little too late. We need to own our problems before we can be empowered to make a positive change!