Quote:
Originally Posted by Unregistered
As a low income family, we do not save much. We stay in a small flat and take public transport. We can only save $10,000 per year. How can we survive? Can any clever people here advise us?
|
Low income refers to people who can barely make ends meet, by being able to save $10K a year you are already luckier than most people.
Even though $10K a year is not a huge amount but if you invest in government-linked companies i.e. stock market (singtel, singpost,
sph, sembcorp), 4-6% return each year is very realistic, just don't be greedy and gamble in penny stocks, those are for experienced traders who can afford to lose.
And never keep all your money in the bank or in fixed deposit, set aside an emergency amount and invest the rest.