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In 30s or close to 40 still giving parents $200 total? They old and stop work liao, cannot lah. And career progression really very smooth , late 30s close to 5 digit liao. Good exercise at planning, but we know we can plus minus so roughly there. Dun be discouraged if u are not there yet guys!
This number is assuming. Not everyone so lucky. 200 per month for parent no enough. Emergency too perfect, mean in calculation after getting emergency fund then no emergency happens any more. Maybe you are lucky enough to have so perfect condition.
What do you mean 200 per month for parents not enough? What’s enough for you? We should all be responsible for our own retirement and not rely on our children in our old age. If you cannot plan for retirement, you shouldn’t have kids too. Any amounts from your kids are just bonus. We should not treat them like our retirement insurance.
I pay $1000 for my child school fees in a local school. Couldn't afford a second child in Singapore 😢. Cannot go back to my country as it's worse 😭. Born unlucky. But I am still trying to get to this number by 55 at least. Please God help 🙏.
A lot of assumptions Kevin....In Ideal scenario ,one can reach 1 million by 40 ,8 million by 60 and even reach 25 million by age 70 ......If target is to reach 100 million then 1 million at 40 is a good starting point...
Haha, amazing. Parents allowance 200. So mom and dad get 100 each per month. I wonder how that adds up?? No wonder can hit 1 million before 40. Given that in the example, one would be still staying in parents house, using their utilities and eating their food, 200 per month. Really a joke
Lol. You're not obligated to give parents money. Parents should have kids without expecting anything in return as its their choice to have kids in the first place
@@heibaimao😂 Parents are also not obliged to continue providing for the kids once they start earning. The parents could rent out the room and get monthly income of at least 1k. The children are in fact paying rent but definitely not at 200 a month. Try getting a room outside at that rate.
It is plausibly possible if one is ultra disapline with their finances. Most important investing into equities about 80% of their paycheck. Do the math and stick to it!
Seeing so many comments saying it’s impossible or very difficult, starting to come up with different excuses, etc. 1st step the mindset already wrong. Of course it’s going to be tough to stick to it. Tis is a very comprehensive game plan already. But it’s hardly going to work for the younger generation today bcuz, where’s the fun by pinning urself to a robotic hamster lifestyle based on calculations?
I think about 40-50% or more don’t go to university in Singapore and after NS during Reservist 3-5 out of 20 is from university the rest is like diploma or Nitec I check with most of them with a salary of around 2.8 a 3.5k only that’s few years of working ady. So when you say 1 million with out a high paying job nah you can make it better even thos Uni guy that I ask only earn about 4-5k and is gov job ,of cos i didn’t interview every singaporean in Singapore but I ask almost everyone when we meet up NS even school mate ,My fiance friends .not a lot of ppl earn more than 4.5k .but I can with just 2.8-3k for 5year age 28 this year my net worth not including CPF is ady 300k so I think is possible even for the true average income not 5k not 6k not after few years 9k no that’s high income ady
45 or 50 lo. It's not gonna be easy. But ultimately, even if you end up with under $1M. But you have a HDB, a wife and kids. That's still a win. The important thing is the mindset to save for emergency and retirement. And hopefully teach all these financial knowledge to your kids growing up. But if no kids, then 1M by 40 should be quite easy assuming the premises he's using, even if you're earning below median. Coz you can save a lot more being single. Sad but it's true.
Sponsor: uSMART (Welcome Rewards) kvli.link/usmart
Join my Telegram t.me/kelvinvest
For any enquiries about uSMART, do check with a dedicated account manager in my Telegram channel.
In 30s or close to 40 still giving parents $200 total? They old and stop work liao, cannot lah. And career progression really very smooth , late 30s close to 5 digit liao. Good exercise at planning, but we know we can plus minus so roughly there. Dun be discouraged if u are not there yet guys!
I think saving money is the key to build up wealth. Control self desire on materials and spent less may help.
This number is assuming. Not everyone so lucky. 200 per month for parent no enough. Emergency too perfect, mean in calculation after getting emergency fund then no emergency happens any more. Maybe you are lucky enough to have so perfect condition.
tougher time ahead for children. I plan my own retirement so they dun have to fund me when they start working.
What do you mean 200 per month for parents not enough? What’s enough for you? We should all be responsible for our own retirement and not rely on our children in our old age. If you cannot plan for retirement, you shouldn’t have kids too. Any amounts from your kids are just bonus. We should not treat them like our retirement insurance.
Kelvin, could you do a video on how to advise an 18 year old on how to invest ? DCA on ETF? Blue chips? :) TIA!
Wow so helpfull ! may i ask is it in S$ or US$ ?
Cpf inclusive employer so after cpf deduction is $3800
I pay $1000 for my child school fees in a local school.
Couldn't afford a second child in Singapore 😢. Cannot go back to my country as it's worse 😭. Born unlucky.
But I am still trying to get to this number by 55 at least. Please God help 🙏.
USmart advert recorded a couple years back ah Kelvin? That time less white hair than now. But now also more digit in your net worth. 😂
This was exactly what I was thinking!😂😊
A lot of assumptions Kevin....In Ideal scenario ,one can reach 1 million by 40 ,8 million by 60 and even reach 25 million by age 70 ......If target is to reach 100 million then 1 million at 40 is a good starting point...
Haha, amazing. Parents allowance 200. So mom and dad get 100 each per month. I wonder how that adds up?? No wonder can hit 1 million before 40. Given that in the example, one would be still staying in parents house, using their utilities and eating their food, 200 per month. Really a joke
Lol. You're not obligated to give parents money. Parents should have kids without expecting anything in return as its their choice to have kids in the first place
@@heibaimao😂 Parents are also not obliged to continue providing for the kids once they start earning. The parents could rent out the room and get monthly income of at least 1k. The children are in fact paying rent but definitely not at 200 a month. Try getting a room outside at that rate.
Yea this videos title is already a joke. Only unfilial children give their parents 200 per month in an expensive country like singapore.
@heibaimao feel sorry for yr parents
It is plausibly possible if one is ultra disapline with their finances. Most important investing into equities about 80% of their paycheck. Do the math and stick to it!
Seeing so many comments saying it’s impossible or very difficult, starting to come up with different excuses, etc. 1st step the mindset already wrong. Of course it’s going to be tough to stick to it.
Tis is a very comprehensive game plan already. But it’s hardly going to work for the younger generation today bcuz, where’s the fun by pinning urself to a robotic hamster lifestyle based on calculations?
Nice video! Do you share the excel templates for the planning too! Thanks Kelvin!!
Income tax? :(
I think about 40-50% or more don’t go to university in Singapore and after NS during Reservist 3-5 out of 20 is from university the rest is like diploma or Nitec I check with most of them with a salary of around 2.8 a 3.5k only that’s few years of working ady. So when you say 1 million with out a high paying job nah you can make it better even thos Uni guy that I ask only earn about 4-5k and is gov job ,of cos i didn’t interview every singaporean in Singapore but I ask almost everyone when we meet up NS even school mate ,My fiance friends .not a lot of ppl earn more than 4.5k .but I can with just 2.8-3k for 5year age 28 this year my net worth not including CPF is ady 300k so I think is possible even for the true average income not 5k not 6k not after few years 9k no that’s high income ady
If only slightly below household median income at each age category, what age can achive $1M?
45 or 50 lo. It's not gonna be easy. But ultimately, even if you end up with under $1M. But you have a HDB, a wife and kids. That's still a win. The important thing is the mindset to save for emergency and retirement. And hopefully teach all these financial knowledge to your kids growing up.
But if no kids, then 1M by 40 should be quite easy assuming the premises he's using, even if you're earning below median. Coz you can save a lot more being single. Sad but it's true.
Just married a super rich wife and keep your mouth shout all the years.
$500k or less makes more sense from all the costs. Might be also difficult..😂
Why no entertainment expenses?
It would help if u can get govt scholarship instead of student loan
Yes. Exactly why I made sure I worked hard for a scholarship🙏
@ashire2702 u are guaranteed a job after graduation, guaranteed salary raise every year and promotions
Yes, by saving $100k for 10 years…..😂
I tell you how. All in bitcoin for the next 20 year
The English is really 😢😢😢
😂😂😂
assuming income is that high? buey zhun
pay increase is abit unrealistic tbh