Quote:
Originally Posted by Jnsy
Hi All,
Im 24yo single this year have been working since I was 18.
OA-41K
SA-12K
I am currently drawing a salary of 3.4k , going to complete my uni course in January.
My biggest regret is not saving or investing any money when I was younger ,buying cars and stupid handbags and getting in ridiculous credit card debt.
I Would be debt free in March 2019(study loans and cc loans)
What would you do if you were my 25 with 2k cash every month and 40k OA?
How would you grow your wealth?
Is it even possible to generate 5k passive income ever month in 5 years time?
Please advise, Thank you!  |
It depends on what are your goals. You starting working early at 18 and have accumulated funds in your
CPF and hopefully some cash with you. This is a good head start. Unfortunately your biggest mistake is to get into credit card debt which is a bad debt.
I suggest you start to save up before thinking of growing your wealth. Depending on your risk appetite, you can invest or do a side line business.
What I did was I got into good debts by investing in myself. i.e. investing in education, joined a good company and buy a house.
You should also have sufficient insurance coverage.
My greatest asset is my house, which has since appreciated.