Quote:
Originally Posted by Unregistered
SWE grad
Take home aft CPF: $4300
Save: $2400 (~65%) every month
I will save 80% post CPF post expenses which are about $600 per month. Use a spread sheet to calculate the amount and when paycheck is in, I immediately put that 80% in the broker to invest. Though I already live like hermit I still have $600 expenses (inclusive of insurance), so the final saving percentage is only 65%. Sigh. Don't know when can I afford my first home alone.
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Remember to consider your income tax. I was just like you a few years back, salary a bit lower, but I didn’t invest until 2020 market crash. Live like a hermit also. I think my expenditure then was even lesser than you. Had to give my parents allowance on top of that. The growth potential of SWE is quite huge . If you are willing to put in the effort in learning. I tried to ask my friends to study together and get rejected left and right. Found out a few of them are just studying secretly on their own later. Those who make an effort had very good career 4 years forward. Those who didn’t kind of stagnated and whiny on social media.
You only need a 10% downpayment and assume another 10% for misc for BTO, so you probably will be able to afford a 2-room BTO comfortably with 2 years of savings. I feel you should be more worried about hitting the income cap for single BTO when you are 35, which is easily achievable in SWE.