30 yrs old plus and still no money
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Investment linked policies with death coverage will cost u a bomb. Best to get it from banks with no coverage attached. U want coverage? get term policies from insurance companies.Originally posted by browniebaobao:no death coverage?
i die liao my family no money claim leh.
then wat for i buy? gees..
Trust me, i have done a very thorough research before
. The interest rates for insurance policies is tied very much to the US economy and it will probably stay very low for a long time. That's why investment policies are better.
Best thing is u shd do ur own research, then step into a bank and consult. My $0.02 worth. -
Over generalisationOriginally posted by Gordonator:young adults nowaday don't have the habit of saving. if they are in need of money, they just stick out their hand and get from their parents.
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it's never too late to start saving. anyway are in in your mid 20s or late 20s? err... if sensitive, pls PM me.Originally posted by browniebaobao:wahh...
but with this little pay that im getting.. and all the debts that i have to clear... bo ko leng..
ok... take out calculator and start counting*
forget it.. marry a rich husband can liao. 
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wait till my job more stable liao then i think abt that ba..Originally posted by Rock^Star:Investment linked policies with death coverage will cost u a bomb. Best to get it from banks with no coverage attached. U want coverage? get term policies from insurance companies.
Trust me, i have done a very thorough research before . The interest rates for insurance policies is tied very much to the US economy and it will probably stay very low for a long time. That's why investment policies are better.
Best thing is u shd do ur own research, then step into a bank and consult. My $0.02 worth.
investment may have more returns but it's also risky.
ever wanted to buy the ntuc income poly.. but that was investment linked plan.. sekali even my capital also bo liao.. -
Originally posted by Gordonator:it's never too late to start saving. anyway are in in your mid 20s or late 20s? err... if sensitive, pls PM me.
in my early 20s.
pm u for wat?
but i dun mind u pm me. -
For those who care to know about financial knowledge, it's important to have 6 months savings, while the rest of the money set aside into bonds, stocks, commodities, passive income, etc. Putting more than necessary in banks is quite stupid.
I have a few plans myself, just sharing because I see my friends owning cars/houses/maids/credit cards and looks very rich, but every month working like a slave to pay all that. For me, money is working very hard for me, so next time I don't have to work so hard at all.
I know this sounds crazy, I am 25 but I am already planning ahead for retirement, if you're younger than me, you have a headstart advantage over me. I put 60k in investments altogether, so this 2-3 yrs will be tough for me, because I'm investing heavily since I came from a poor family. Considering my investment growing at the current constant rate, even if I go to jail now and come out 20 yrs later, I'll still be a millionaire.
Secondly, I've invested heavily in my studies, because next time I plan to come out and be a professor. I find studying extremely fun and interesting. Since it's in my interests, next time I should probably enjoy working. Education will help to get you out of poverty, that's what I believe in, and something that I acted upon.
Third, it's important to buy some insurance to cover illness especially if you are not particularly rich. Even millionaires can become bankrupt nowadays with the rising medical fees, believe it or not. So always protect yourself physically and financially.
Forth, it's good to be earning multiple streams of income. It's amazingly fun especially when you know that you are in control. If your income comes purely from your job, then when you gets retrenched, then you have no cash flow. If you have MSI, then even if you lost one customer ( your job ), then you still have plenty to get along, your cash flow is not disrupted at all.
Fifth, I always hang out with positive/smart people ( most of the time, they also happen to be directors and big shots so i guess personality helps alot ), so they kind of influence me alot. I say this because most of the time, people are so stubborn they refuse to learn, they always think they are the smartest. So to be financially savvy, you also need to be open minded and filter information that can be financially beneficial to you. For example, I wanted to buy a car last time for my gf, so I seek advice from this business man, and he told me about all the things associated with having a car, which luckily I listen and give up such a stupid idea given my financial status at that time.
Sixth, it's important to have good work ethics. It doesn't matter how good you are at your studies, if you have terrific work ethics, you are opening many opportunities for yourself. I have gotten to know many high ranking people from small companies to huge companies through my hard work which they recognize and refer me more clients. This is something you can't get even if you have a PhD with lousy work ethics.
Seventh, I'm hoping to be an author in the future. I told my friend and see what they think, they laughed at me, quite amusing. The truth is I am writing everything I've learnt and I'm making things happen instead of leaving it to luck. Every month during my spare time, I write a small digestible chapter so maybe a few years down the road, I should have enough to get it published. So to want to be rich, you have to start taking responsibilities for your own actions and make efforts to turn your dreams into reality. You don't have to care what other people think, because chances are, many people don't want you to succeed, and they try to put you down with words or anything else they can, but successful people will not succumb to such tactics. In fact, everytime people criticise ( non-constructive criticism ) me for something, it makes me want to work so hard and driven to succeed. Part of the reason I wanted to get a PhD anyway is not so much to make a living, since I intend to have businesses, but the paper is to make a statement.
Also, I read alot of books, averaging 3/month, and it helps alot. I used to be really stupid, in terms of financial sense and business sense, but I've came a fair bit since then.
I hope those thoughts help, even though it might makes me sound like an asshole, to some people, I might be, but otherwise I can be really nice person. -
cant even feed myself how to save
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Its a known fact, the only time you manage to save, is your 13th month bonus.
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There's a risk in everything concerning money. U lock ur money into a low interest plan, u incur opportunity risk.Originally posted by browniebaobao:wait till my job more stable liao then i think abt that ba..
investment may have more returns but it's also risky.
ever wanted to buy the ntuc income poly.. but that was investment linked plan.. sekali even my capital also bo liao..
Try to find out more about inv linked policies. A lack of knowledge (it's true right? ) can cause u to miss out a lot. -
early 20s is still young what. saving $400 a month shouldn't be a problem.Originally posted by browniebaobao:
in my early 20s.
what are your monthly expenses?
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10 years down the road, after dozens of crazy inflations, a plate of char kway teow will probably cost u 40bucks
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pls summarise bro. it makes quick reading difficultOriginally posted by DailyFreeGames.com:For those who care to know about financial knowledge, it's important to have 6 months savings, while the rest of the money set aside into bonds, stocks, commodities, passive income, etc. Putting more than necessary in banks is quite stupid.
I have a few plans myself, just sharing because I see my friends owning cars/houses/maids/credit cards and looks very rich, but every month working like a slave to pay all that. For me, money is working very hard for me, so next time I don't have to work so hard at all.
I know this sounds crazy, I am 25 but I am already planning ahead for retirement, if you're younger than me, you have a headstart advantage over me. I put 60k in investments altogether, so this 2-3 yrs will be tough for me, because I'm investing heavily since I came from a poor family. Considering my investment growing at the current constant rate, even if I go to jail now and come out 20 yrs later, I'll still be a millionaire.
Secondly, I've invested heavily in my studies, because next time I plan to come out and be a professor. I find studying extremely fun and interesting. Since it's in my interests, next time I should probably enjoy working. Education will help to get you out of poverty, that's what I believe in, and something that I acted upon.
Third, it's important to buy some insurance to cover illness especially if you are not particularly rich. Even millionaires can become bankrupt nowadays with the rising medical fees, believe it or not. So always protect yourself physically and financially.
Forth, it's good to be earning multiple streams of income. It's amazingly fun especially when you know that you are in control. If your income comes purely from your job, then when you gets retrenched, then you have no cash flow. If you have MSI, then even if you lost one customer ( your job ), then you still have plenty to get along, your cash flow is not disrupted at all.
Fifth, I always hang out with positive/smart people ( most of the time, they also happen to be directors and big shots so i guess personality helps alot ), so they kind of influence me alot. I say this because most of the time, people are so stubborn they refuse to learn, they always think they are the smartest. So to be financially savvy, you also need to be open minded and filter information that can be financially beneficial to you. For example, I wanted to buy a car last time for my gf, so I seek advice from this business man, and he told me about all the things associated with having a car, which luckily I listen and give up such a stupid idea given my financial status at that time.
Sixth, it's important to have good work ethics. It doesn't matter how good you are at your studies, if you have terrific work ethics, you are opening many opportunities for yourself. I have gotten to know many high ranking people from small companies to huge companies through my hard work which they recognize and refer me more clients. This is something you can't get even if you have a PhD with lousy work ethics.
Seventh, I'm hoping to be an author in the future. I told my friend and see what they think, they laughed at me, quite amusing. The truth is I am writing everything I've learnt and I'm making things happen instead of leaving it to luck. Every month during my spare time, I write a small digestible chapter so maybe a few years down the road, I should have enough to get it published. So to want to be rich, you have to start taking responsibilities for your own actions and make efforts to turn your dreams into reality. You don't have to care what other people think, because chances are, many people don't want you to succeed, and they try to put you down with words or anything else they can, but successful people will not succumb to such tactics. In fact, everytime people criticise ( non-constructive criticism ) me for something, it makes me want to work so hard and driven to succeed. Part of the reason I wanted to get a PhD anyway is not so much to make a living, since I intend to have businesses, but the paper is to make a statement.
Also, I read alot of books, averaging 3/month, and it helps alot. I used to be really stupid, in terms of financial sense and business sense, but I've came a fair bit since then.
I hope those thoughts help, even though it might makes me sound like an asshole, to some people, I might be, but otherwise I can be really nice person. -
i duno..Originally posted by Gordonator:early 20s is still young what. saving $400 a month shouldn't be a problem.
what are your monthly expenses?
when i have money on hand, i tend to spend away..
so that's why i need to have a separate acc that i cant withdraw so easily. -
At 30 annual income generally around 35-70k, most of them get married and buy HDB or condo. Even they have little saving but are asset rich. The investment goes to children is large amount too.
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wad are u waiting for??? intro leh!!!!!!!Originally posted by dragg:it depends on your circle of friends.
my friends have lots of money in their banks. 
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i doubt it. there are still MANY annual income is below 20k.Originally posted by T.Ryousuke:At 30 annual income generally around 35-70k, most of them get married and buy HDB or condo. Even they have little saving but are asset rich. The investment goes to children is large amount too. -
wah.. 25 yrs old with 60k.. how long did u save?Originally posted by DailyFreeGames.com:I know this sounds crazy, I am 25 but I am already planning ahead for retirement, if you're younger than me, you have a headstart advantage over me. I put 60k in investments altogether, so this 2-3 yrs will be tough for me, because I'm investing heavily since I came from a poor family. Considering my investment growing at the current constant rate, even if I go to jail now and come out 20 yrs later, I'll still be a millionaire.
my bro's fren.. 19 years old alrd got 50k in his bank..
that's bcos his dad is a gambler and his mum could foresee the worst happening, and so saved for him since young. -
one of my gf, at the age of 24, has a savings of 70k.
i feel so guilty and envious... -
I summarise already loh, all the books I read are so thick, now all became 1 post only, you still complain... really complain king.Originally posted by Rock^Star:pls summarise bro. it makes quick reading difficult -
it's ok lah, not everything is about dollars and sense too. a gd quality of life counts tooOriginally posted by Cool-gal:one of my gf, at the age of 24, has a savings of 70k.
i feel so guilty and envious... -
impulsive shopping disorder i see.Originally posted by browniebaobao:i duno..
when i have money on hand, i tend to spend away..
so that's why i need to have a separate acc that i cant withdraw so easily. -
Yo bro! you kee siao ah...Originally posted by T.Ryousuke:At 30 annual income generally around 35-70k, most of them get married and buy HDB or condo. Even they have little saving but are asset rich. The investment goes to children is large amount too.
At 30, annual income can be 70k meh? that makes it 70k/12 = $5.8 k.
Even at 50k ==> every month you make $4.2k
I guess not even 30% of the 30yos working population are getting this.
*Pss... if got lobang, PM me, dont tell others ok?
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umm, i guess they are only telling u wat's in their active account lah. not possible that they will reveal how much they have in their fixed deposits, shares etc to uOriginally posted by blowfish:Hello all, recently i have meet up with few friends and get to know that they are not saving much at all. the most is about few hundred bucks in bank. Reason is having cars, partying and blar blar.
i am very concerned this as they are my friends. It is common for this? at age thrity, do you have sufficient $$ ? for me i had not yet reach 30 but i think if i married liao before 30, my bank will be 0 also .
haiz, must buy 4D liao. -
yes.. that's bcos i had been repressing myself.Originally posted by Gordonator:impulsive shopping disorder i see.
shopping makes a person happy leh.
at least, makes me happy. tho at the end of the day, i might really be very broke-n-ed. -
hmmm,ya la, quite true, coz she damn stingy.Originally posted by Rock^Star:it's ok lah, not everything is about dollars and sense too. a gd quality of life counts too
but she reli power can save til this lot.
and she works 5yrs to save it.