Home Money Making Are all Singaporeans wealthy? Be richer in 3 years!

Are all Singaporeans wealthy? Be richer in 3 years!

Are all Singaporeans wealthy? Be richer in 3 years!


Whereas watching some YouTube movies relating to the financial system, a video titled “Are All Singaporeans Wealthy?” popped up in the precise sidebar.

I’m often not serious about movies like this however since I blogged about Singaporeans being obsessive about salaries not too way back, I made a decision to provide it a go.

Thankfully, the video had timestamps which allowed me to look at the segments I used to be extra serious about.

It’s attention-grabbing to see that the individuals interviewed within the streets of Singapore largely agreed that all the pieces was costly in Singapore.

Most of them had earned earnings of $5K a month or extra.

Personally, I feel I could be fairly snug with a wage of $5K a month immediately.

Other than vehicles and personal housing, I do not assume Singapore is pricey.

Why do many Singaporeans assume {that a} wage of $5K a month is inadequate?

Watching the video produced so many “Alamak, AK!” moments.

Somebody stated he would purchase lattes frequently, paying $8 a cup!

Then, there may be pubbing on weekends and taking taxis!

(OK, as a ComfortDelgro shareholder, I feel taking taxis is a good suggestion. Please proceed.)

Then, some speak about advantageous eating and the way costly wine is in Singapore!

Hey, we have now selections.

If we overpay for espresso and if we select to take taxis as an alternative of buses and trains, after all, it will result in the next price of residing.

If we select to get our diet in fancy eating places, undoubtedly, it will be costlier.

Such a way of life in any nation can be costlier than extra humble options in the identical nation.

Am I proper to say that?

Really easy accountable others for dangerous outcomes even when it was our selections that led to these outcomes.

Do not say Singapore is pricey once we make costly selections.

Get up.

A girl stated that she needed to work tougher to earn extra money.

I do not assume that could be a dangerous factor per se.

If she labored tougher and put a few of the cash to work as a way to generate passive earnings, her monetary well being can solely enhance over time.

If we do the precise issues, we do not have to fret an excessive amount of about our monetary future.

If I had been 30 years outdated immediately and drew a wage of $5K a month, if I had been actually prudent, I might in all probability save 50% of that cash every month.

If I had been to speculate $2K per thirty days in good earnings producing companies, with a dividend yield of say 4% to five%, I might have the ability to generate a number of thousand {dollars} per yr in passive earnings by the tip of the third yr.

Sure, it will take solely 3 years to see significant outcomes!

Over time, if we make more cash, we might put extra money to work if we keep financially prudent.

I remind myself that it’s not how a lot cash we make however how a lot cash we save that may inform us if we’re rising richer.

Then, be a realistic and affected person investor for earnings and we will solely turn into richer.

Not all Singaporeans are wealthy however all Singaporeans could be richer.

If AK can do it, so are you able to!

Associated posts:
1. Why obsess with salaries?
2. Passive earnings as a lot as earned earnings?



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