Guidance needed for extra savings! - Page 2 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property, building net worth and retirement matters




Guidance needed for extra savings!

Reply
 
Thread Tools
  #11 (permalink)  
Old 16-11-2014, 06:20 PM
Unregistered
Guest
 
Posts: n/a
Default

earn more, spend less, save more, invest lor... so simple...

Reply With Quote
  #12 (permalink)  
Old 16-11-2014, 11:05 PM
ZZZ
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by rdpd View Post
Hello all.

I have just graduated from NUS (age 25) working with a monthly income of ~4k/mth and also ~2k/mth from giving private tuitions. As I intend to spend only from my tuition earnings, I am looking at a savings upwards of 50k per annum (with bonuses).

What should I do with these savings? Should I save them for future uses like wedding and BTO or should I use them for investment? In addition, since I am quite packed everyday with tuitions and work, I do not have the time to do my research and invest.

Would love to get from guidance from any experts here or maybe share their experience. I am open to suggestions and advice here or privately. I am also hoping to achievement my first million by 35!
well, hat me and my wife did was to save hard, invest in property when the market is cool, and sell when the market heats up. that's how we grew our net worth from $300K at age 28 to $2.8M over the last 10 years. also, increase your savings as your salary increases and do your sums before starting a family.

Reply With Quote
  #13 (permalink)  
Old 23-01-2015, 05:34 PM
Junior Member
 
Join Date: Jan 2015
Posts: 2
averyhoward is on a distinguished road
Red face Debt Crisis

Paying your debts is not that easy if you are not financially stable. You should try asking for financial assistance if you are having a financial crisis. The European financial crisis is far from over. The European Central Bank is calling for greater levels of depositor insurance to help cut back on bank runs. Without it, the ECB states, the financial mayhem will spread virally. If you need some financial help in these hard economic times, you can get a cash advance. You should try availing a cash advance right away if you are having a hard time paying your bills on time. You should try visiting our website right now and check out what we are trying to offer.

Reply With Quote
  #14 (permalink)  
Old 06-02-2015, 11:36 PM
Senior Member
 
Join Date: Aug 2014
Posts: 43
Fearoftheunknown is on a distinguished road
Default

Quote:
Originally Posted by rdpd View Post
Hello all.

I have just graduated from NUS (age 25) working with a monthly income of ~4k/mth and also ~2k/mth from giving private tuitions. As I intend to spend only from my tuition earnings, I am looking at a savings upwards of 50k per annum (with bonuses).
How many students do you have while working full time? I am moonlighting as a private tutor after work, and I already find it tiring having to beat the clock & traffic on days I am giving tuition. I'm also surprised that tuition did not interfere with your career when OTs are expected. How did you even managed to pull it off and earn 2k from giving tuition?
Reply With Quote
  #15 (permalink)  
Old 13-02-2015, 06:54 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Fearoftheunknown View Post
How many students do you have while working full time? I am moonlighting as a private tutor after work, and I already find it tiring having to beat the clock & traffic on days I am giving tuition. I'm also surprised that tuition did not interfere with your career when OTs are expected. How did you even managed to pull it off and earn 2k from giving tuition?
that guy may just be coming out with bullshite stories.

havent u heard of internet trolling before?
Reply With Quote
  #16 (permalink)  
Old 13-02-2015, 11:01 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
All investments come with risk, even the safest ones. This means you may LOSE money.

Since you will need the money quite soon, I suggest you put it in a time deposit or with the CIMB savings account which pays 0.8%. If you have a few hours a month, you can explore OCBC 360 which pays 3.05% on $50k. This way, you will not lose money.
No loss on capital but its value depreciates due to inflation. Should aim to be on par with inflation rate at least.


SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote

  #17 (permalink)  
Old 13-02-2015, 11:20 AM
Unregistered
Guest
 
Posts: n/a
Default

To accumulate from a low base of 50K (not sure how much you really have), you will probably need to grow YoY >30% for 10 consecutive years.

It's a pretty aggressive target to beat if you are going to rely on investment alone.
You will realize you need to concurrently try growing your income to >100K a year while at the same time manage your expense down.

That will give you more disposable income to invest and less aggressive growth target to work with. It's going to be a 3 pronged strategy that requires some discipline and a tad bit of 'luck'.

To increase your chance, it's best to invest time also to understand various investment strategies. That will equip you with knowledge to make wiser choices that bring you closer to your target.
Reply With Quote
  #18 (permalink)  
Old 13-02-2015, 02:23 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by ZZZ View Post
well, hat me and my wife did was to save hard, invest in property when the market is cool, and sell when the market heats up. that's how we grew our net worth from $300K at age 28 to $2.8M over the last 10 years. also, increase your savings as your salary increases and do your sums before starting a family.
Is this post also a bullshit? Damn smells full of ****...
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How much savings do you have? Reporter Investments and Net Worth 1306 23-12-2019 05:54 PM
Calculate how much savings you should already have admin Investments and Net Worth 1 24-03-2014 12:11 AM
Urgent! Full-Time Permanent Trainee bakers needed (No experience needed) Yournextjob Marketplace and Find Work 0 05-02-2013 10:44 AM
Is it worth using $100k of your 3 years savings to get a top class masters overseas? Liverpool Education and Personal Growth 30 27-07-2011 09:36 PM
Not enough savings for retirement Salary.sg Investments and Net Worth 0 14-05-2007 08:59 PM

» 30 Recent Threads
Compare civil service salary ( 1 2 3... Last Page)
8,947 Replies, 5,183,239 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,280 Replies, 1,034,152 Views
Which degree is the best return on... ( 1 2 3... Last Page)
55 Replies, 10,342 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
31 Replies, 15,785 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,779 Replies, 494,864 Views
Pacific Refreshments - The Coca...
3 Replies, 337 Views
Stat board tiers ( 1 2 3... Last Page)
53 Replies, 26,125 Views
Cost of living in singapore will... ( 1 2)
17 Replies, 4,039 Views
anyone working at NCS ? ( 1 2 3... Last Page)
341 Replies, 260,226 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
189 Replies, 60,309 Views
Pay for digital marketing agencies
5 Replies, 1,570 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,791 Replies, 841,270 Views
Job offer from Apple ( 1 2 3... Last Page)
332 Replies, 58,255 Views
Schneider Electric - EGP (Grad... ( 1 2 3... Last Page)
54 Replies, 15,648 Views
Lawyer Salary ( 1 2 3... Last Page)
4,875 Replies, 2,126,513 Views
Anyone work for Casino (RWS/MBS) ?... ( 1 2)
14 Replies, 5,390 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,174 Replies, 206,168 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,908 Replies, 1,761,008 Views
Bad times?
9 Replies, 964 Views
Standard Chartered International... ( 1 2 3... Last Page)
53 Replies, 50,746 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
616 Replies, 312,717 Views
DBS BANK Interview replies ( 1 2 3... Last Page)
423 Replies, 252,606 Views
Working at Changi Business Park ( 1 2)
16 Replies, 1,683 Views
UBS Graduate Talent Program ( 1 2 3)
27 Replies, 20,680 Views
Mother looking for a job ( 1 2)
10 Replies, 956 Views
Career as Teacher ( 1 2 3... Last Page)
2,062 Replies, 1,393,964 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,606 Replies, 983,875 Views
ST Electronics ( 1 2 3... Last Page)
388 Replies, 173,626 Views
Whats your net worth ( 1 2 3... Last Page)
2,688 Replies, 758,780 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:12 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2