How much you should have varies drastically from person to person. All I’ll say is try to stretch your money as far as possible, live a comfortable but frugal life and make your money work for you.
20 to have that amount is impossible but i pretty sure by age of 25-26 you can have 100k saving and earn 4-5k already. I m 23 start work 21, saving 63k and asbf 30k 5y finish 26. Projection 26 will have 120k+. Start salary 2k+ but now 3k+. Lesson is always upskill and learn those skill then jump. Always lower your lifestyle. No car and eat in staff canteen (free) instead outside even its not delicious haha
@@MillennialFinanceMalaysia thanks sir, yes maybe due to family factor. Had a lot of friend that have commitment toward their family. My family didnt bother my salary haha. So i manage monthly 1-1.5k saving and 500 my monthly expenses for anything. Ps: my parent is M40 group and only got 2 kids which me n my sister.
Out of topic, what is your thoughts on buy & rent property as investment for us at our age 20-30s? I personally have been enjoying good returns from US stock market, so I have my bias there. Genuinely want to know what others in the same age are thinking
Eventually as you get close to retirement you’ll want to see it as a multiplier of expenses. So the end game goal is 25x annual expenses. But easy way to track if you’re saving a good portion of your income is to use the income multiplier instead
How much you should have varies drastically from person to person. All I’ll say is try to stretch your money as far as possible, live a comfortable but frugal life and make your money work for you.
Definitely, there are many factors to it
20 to have that amount is impossible but i pretty sure by age of 25-26 you can have 100k saving and earn 4-5k already. I m 23 start work 21, saving 63k and asbf 30k 5y finish 26. Projection 26 will have 120k+. Start salary 2k+ but now 3k+. Lesson is always upskill and learn those skill then jump. Always lower your lifestyle. No car and eat in staff canteen (free) instead outside even its not delicious haha
Agreed, I managed to save up my first 100k at around that age too. Very impressive that you did it on a 3k+ salary though
@@MillennialFinanceMalaysia thanks sir, yes maybe due to family factor. Had a lot of friend that have commitment toward their family. My family didnt bother my salary haha. So i manage monthly 1-1.5k saving and 500 my monthly expenses for anything. Ps: my parent is M40 group and only got 2 kids which me n my sister.
Damn bro, respect!! 🫡
Love your videos, thanks for the advice
Appreciate it Vincent!
EPF is the best for retirement with dividend between 5-6%
Out of topic, what is your thoughts on buy & rent property as investment for us at our age 20-30s? I personally have been enjoying good returns from US stock market, so I have my bias there. Genuinely want to know what others in the same age are thinking
Will do a video on this, had it in my mind haha
Good one! Wouldn't it make more sense for the savings to be (X Annual Expenses)?
Eventually as you get close to retirement you’ll want to see it as a multiplier of expenses. So the end game goal is 25x annual expenses.
But easy way to track if you’re saving a good portion of your income is to use the income multiplier instead
Thanks for the advice
No problem!
Thank you for sharing!
No problem, thanks for the support!
How about property or agriculture investment??
Not a huge fan of property. What kinda agri investments do you have in mind?
600,000 ringgit at age 40 😅
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One day late! Haha
Haha we post every Monday now! :)