Even if You can SAVE 75% of Your monthly earning ” diligently ”
but You only PARK it in a saving account
earning ” Less Than 1% PER ANNUM “…
then that’s NOT going to help You RETIRE EARLY in Singapore at all !
At LESS THAN 1% per annum..
it is as good as earning ” nothing ” actually because the amount
would be too SMALL to enable You to survive with !
By setting aside 75% of Your monthly earning as saving….
all the MORE You should make the MONEY WORK HARD FOR YOU !
Else why bother being so FRUGAL and can ( only ) live on JUST 25% of Your monthly’s earning….
Because You CAN”T ” enjoy much in life at all ” with 25% ……that’s for sure !
Even if You earn a whopping $10,000 per mth
You can only spend $2,500 !!
Seriously…..Can You ?
Of course NOT many people would actually be WILLING to set aside 75%
of their monthly earnings as saving…
Even by saving 50%, already it is very RARE !
( as most simply CAN”T RESIST NOT BUYING the THINGS THEY WANT !!……Yes….NOT NEED ! * frown * )
I am using ” Saving 75% ” for this article as that’s more effective to help convey
a certain point of mine across to all readers
Continue reading and You will understand more
Let’s say You are drawing a $10,000 per month paycheck
You SAVE 75% of it => $7,500
and ” willing ” to just spend $2,500
And presuming You have the ” Extreme Determination ” to do that
for the NEXT 30 Years ( 25 to 55 years old that is)
You would have saved => $7500 x 12 x 30 => $2.7 Millions ( by end of 30 years )
For most, anything beyond ONE MILLION would sound like ALOT….
hence for an amount like $2.7 Millions, it would sound ( 3x ) ALOT for sure…
However do remember one thing here, it’s that …
You can ONLY live with 25% of Your $10,000 per month salary ( $2500 )
for the NEXT 30 Years !!
I seriously don’t think anyone would want to LIVE in such ( EXTREMELY ) FRUGAL manner at all man…….for 30 YEARS EVEN !
Now consider another scenario below :
If You park the $7500 saving into an ” Income Generating Vehicle ” that would
deliver about a ” Realistic 5% Return Per Year…”
and then allows the amount to be ” Compounded ” ….year after year
( Yes….making MONEY WORK HARD FOR YOU instead ! )
Do You know after 30 Years…
the same $2.7 Millions of Yours would be GROWN into How Much ?
=> $6,368,471 !!
That’s OVER $3.5 MILLIONS MORE for You ….saw that ??
And this calculation is only based on $7500 x 12 => $90,000 contribution a year
Am sure within the 30 years journey, Your monthly pay would be increased a few times
that’s when Your monthly contribution of 75% would be MORE than $7500 then
hence the amount derived is based on a fixed $90,000 per annum, do note.
Let’s say You only need SGD $3,000,000 to retire in Singapore
and presuming You are contributing $90,000 per annum ( $7500 a mth )
& You are also parking Your saving in an Income Generating Vehicle that
generates 5% per annum for You…
Do You Know How Many YEARS You Can CUT-SHORT With That …?
In order to Retire Early I mean….
Instead of 30 Years ( needed ) like previously ….
You only need 19 Years to achieve SGD$3 Millions to retire early !
YES ! You actually can retire 11 Years EARLIER !
If You don’t understand what ” Difference ” that is…
Allow me to prove with Numbers then :
11 x 365 => 4015 Days
Meaning You can Retire 4015 Days EARLIER !
So with the explanations & simple maths above…..
I hope You can understand why it is VERY Important ( for anyone wishing to retire early in Singapore )
to rely on some form of INCOME GENERATING VEHICLES to help grow one’s HARD EARNED Saving
instead of just ” parking ” in the saving account NOT GROWING at all !
So What Are The 2 Best Income Generating Vehicles That I Rely On Myself ?
I have been exploring almost ALL available out there
and I finally only settled on these 2 :
1) Investing In Property
2) Trading The Forex Market
Let me explain to You why I ONLY ” settled ” onto these 2 ( out of so many around ) :
1) Why I Invest In Property ?
Because in Singapore , every 10 Years the property prices would increase by almost 2x
Let’s say You bought a Private Property at 2002 period for SGD$1,000,000
and then sold it off at the 2012 period ( before the cooling measures )
You can easily sell it off at about $2,000,000
which is $1,000,000 difference
If deducts off all the fees & Duty
You can still Profit about $800k realistically
that is a nice 80% ROI !
And in Singapore, where land is Limited and Populations Growing
it is just simple Demand & Supply we’re talking about here
& the Demand would be ” strong ” still..
Now that the Property Market has corrected by about 15 to 20% now ( at least )
since the Cooling Measures implemented in 2012 Sept
it is about a ” good time ” to enter again to ride the NEXT BULLISH WAVE up !
So Are You getting Your BULLETS ready yet ?
But if You are also like me..
whom don’t like to take up any ( additional ) ” mortgage loan ” at all
and would rather rely on a financial vehicle to help build up the MILLIONS $
to help You retire early in Singapore…
….then the 2nd Income Generating Vehicle that I rely on would be what You need as well.
2) Why Am I Trading The Forex Market
The Forex market is opened 24/5
and with volumes at 5 TRILLIONS A DAY
You can almost trade ” anytime ” You want to !
The beauty is that it offers ” high leverage ” that no other financial instrument has !
At 1 : 50 up till 1 : 1000 ( for some brokers )
it means You just need $1000 to control $100,000 of currency ! ( for 1 : 100 )
Which also means You can make money FASTER when You have a Proven Strategy to follow on !
Yes…” High Leverage ” is a double edge sword …that’s for sure …
But since we are here to find the best approach to help us Retire EARLY in Singapore
( instead of having to work till 65 years old like most
and yet do NOT have much Retirement Fund to survive for the next 30 years …)
….it is definitely worth every bit of time and effort to MASTER the required Skill-Set
in order to help us achieve the ” Winning EDGE ” while trading the Forex market
in the long run….right ?
It is exactly like the case when You get to drive a FERRARI !
If You don’t know how to DRIVE at all
and if You FLOOR the Accelerator of a Ferrari, You are going to hit obstacle with EXTREMELY HIGH IMPACT
as the Horse Power is VERY HIGH for a car such as Ferrari
Of course when that happened, You are going to be seriously injured !
On the other hand, if You know how to DRIVE Properly
and by FLOORING the Accelerator of that Ferrari ( on a Safe HIGHWAY )
You are simply going to enjoy every single moment in that Supercar….isn’t it ?
It is exactly the SAME case with the ” High Leverage ” Forex Trading offers…
Once You know how to make good use of it …( by Mastering the Skill-Set needed )
it would only help You PROFIT FASTER !
I would consider myself a ” Successful Trader ” by now
having traded for 9 years so far
and consistently ” beating ” the market since 2009 till date !
If You have any questions about Forex trading or You are keen to get started too
feel free to email me and ask
I can help with any questions that You have .