I had originally written this article under another blog but realized that it fits into this blog theme on SG Smart Money. Hence I have decided to shut down that blog and just concentrate on this one.-
==================================================
How to Save $100k in 7 Years
This is my first post in Blogger and I am inspired to create this blog after coming
across this article in the Straits Times, dated 7 July 2013 article.
In this article, it shows how a young fresh grad, just straight out of school can save $100,000 in 5 years.
This article also assumes that
However, this article does not take into account the various 'milestone' events that can thwart a youngster's 'best laid plans' such as
In the next 7 years, I will be 40 and this is the goal that I want to reach at 40.
I am also hoping that combined with investments, I can exceed this goal.
This is what I aim to to
1) Save 30% -50% of my take-home pay
2) Invest 60% into REITs and dividend paying stocks.
3) Start a part-time venture
I am also looking for a tracking chart to track my progress.
across this article in the Straits Times, dated 7 July 2013 article.
In this article, it shows how a young fresh grad, just straight out of school can save $100,000 in 5 years.
This article also assumes that
- You save 50% of your take home pay
- You are single
- You have cheap hobbies
- You are willing to make some sacrifices.
However, this article does not take into account the various 'milestone' events that can thwart a youngster's 'best laid plans' such as
- Student loans
- Weddings
- Honey moons
- New house
- Any other 'catastrophic' events.
In the next 7 years, I will be 40 and this is the goal that I want to reach at 40.
I am also hoping that combined with investments, I can exceed this goal.
This is what I aim to to
1) Save 30% -50% of my take-home pay
2) Invest 60% into REITs and dividend paying stocks.
3) Start a part-time venture
I am also looking for a tracking chart to track my progress.
No comments:
Post a Comment