How to save $100,000 by the age of 55 in Singapore?

Just how to fill your pockets with money? Yes, having a job is one way to achieve that. But are there any other methods?

It is a competitive society in Singapore. The exchange rate is also not bad. But what is the one good way to earn your pot of gold without working? Business Insider has some tips on how to save up. No, not investment. Just follow their plan, and maybe your pockets will be full before you turn 55? What you waiting for? Read on…

borrow money

Take for example, let’s start from the age of 20, where you have your first job. Every day, you save up $2. That comes up to $61 a month. Of course, the first years of your career path are tough as you draw a junior executive salary. But you simply got to endure.

Look at the chart below. It is essentially a five year plan. When you are 20, 25 and 30, every five years, take note of the interest you might earn. The importance of compounding is there for all to see. You simply have to start from young.

daily-saving

Agree? Any better savings plan to share with NextSingapo.com ? Email us or comment below.

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