How many % of your income do you save and invest with?
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As per topic title. I am quite curious about the percentage of one's income one would set aside for savings and investment while working in SG after reading this topic.
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My gf's friend's dad told me before that his friend's son was already planning for retirement before 30 years old... Seems like this person's achievement is not any less.
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i invest my money on my food and clothes....my food so that i got energy to work and make more money or waste time....
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i save normally around 80% of my income...used to speculate in stocks when i started work, then bought stupid tech. units trusts from my friend agent...haiz...all so commission minded these advisors...no wonder my friend advisor can drive BMW at age 27....that's where my thousands went...to him...
now, I seek unbiased advice at www.secondopinion.asia ...i paid $90 to them and got a shock when they showed me how much commission i paid my adviser on those unit trusts i bought and those investment linked policies
there are also good financial sites like www.fool.com in USA
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quick bucks may be tempting....but nothing beats down to earth....keeping $$$ under the bed
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Originally posted by Janice888:
i save normally around 80% of my income...used to speculate in stocks when i started work, then bought stupid tech. units trusts from my friend agent...haiz...all so commission minded these advisors...no wonder my friend advisor can drive BMW at age 27....that's where my thousands went...to him...
now, I seek unbiased advice at www.secondopinion.asia ...i paid $90 to them and got a shock when they showed me how much commission i paid my adviser on those unit trusts i bought and those investment linked policies
there are also good financial sites like www.fool.com in USA
all of your posts have been advertising the website
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True, nothing beats increasing our earning power, whether be the best banker or the best hawker in town
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flucuates.
usually invest 30% save 15%.
Now is invest everything possible. =)
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Originally posted by Janice888:
i save normally around 80% of my income...used to speculate in stocks when i started work, then bought stupid tech. units trusts from my friend agent...haiz...all so commission minded these advisors...no wonder my friend advisor can drive BMW at age 27....that's where my thousands went...to him...
now, I seek unbiased advice at www.secondopinion.asia ...i paid $90 to them and got a shock when they showed me how much commission i paid my adviser on those unit trusts i bought and those investment linked policies
there are also good financial sites like www.fool.com in USA
80% WOW you save alot! I wish I can cut down my expenses to only 20%.
U dun need to pay $90 to a CFA to get 2nd opinion financial advice. Any consultants, even insurance people worth his salt should be able to explain them to you, provided you found an ethical one. Anyway, experienced sales people know how they influence someone whether the product is good or bad, depends on how they emphasis and direct your attention to, be it even if they present both the pros and cons of the product in detail to you. To speak fairly, can't really blame the advisor. I'm sure he/she too is unexperience in investments, maybe only a couple months training in UT investment. They're just repeating what their fund managers said to them. Even the CFAs, ChFCs, top CEOs, government and economical analysts are banking on tech stocks at that time, so just too bad. Learn from past mistakes.
Anyway, if I'm someone setting up a "unbiased 2nd opinion" or "independent opinion" or "fair opinion" website, I'll definately highlight the cons of whatever you ask. Think about it, people pay money to me for an "unbiased" opinion. How will they feel if I just say the products they bought suit them? Or will they feel their money's worth if I highlight all the so called hidden charges and implications? If need be, perhaps some will even compare apple to orange to further emphasis the cons.
The foo.com site, some information is based on a different context, not as applicable to us.
Just my 2 cents.
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Investments non as of yet... Maybe set aside 30% of my salary currently...