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Showing posts from July, 2016

Achieving $300k cash before the clock hits 30

When I first started blogging (cue the first blog post), I set myself a goal to save $100k by 28.
$100k cash, excluding CPF.
I achieved this at 25.

I even thought my $100k would drop downwards after paying for flat, reno, kids. But who would have known that my chance to get a flat would only happen at 27, and my savings grew and grew?

$200k at 28
At 28, I hit $200k cash savings. It took me 3 years to grow another $100k. 
If not for the fact that I've been topping up $14k annually to mum and my CPF RA/SA, spendings on wedding, house related stuff and frequent holidays, I would have much more cash on hand. But, that can't be real, that's not living - those money have to be spent.

If not for the fact that I've pumped $80k over the past 7 years into stocks, of which the paper value is now only at $60k+, I'd been $80k "richer". The converse could be said if I've great investment capabilities to grow $80k to $100k 🙃

Anyway...
As I edge closer to 30 ⏰, I've ano…

My tips on how I accumulated $100k before 28

In my previous post, I talked about how I've hit my goal of saving $100k cash before 28. Here are some of my personal saving tips:

Park your money in a high interest savings account I started off with POSB Kids Savings then switched to FRANK account in Uni and then to OCBC 360 after I started work. The interests offered by OCBC 360 is so far one of the best. 1.2% on salary crediting and 0.5% on paying 3 bills. Clocked my expenses on other credit cards instead of OCBC, so I only have 1.7% p.a on my 360. It does help me in achieving my goal faster. But, if a better savings account comes along, I'll just jump the ship.Update as at 3 Aug - I've jumped the ship to BOC SmartSaver!Park your remaining money in a fixed depositSince only the first $60k enjoys attractive interest, why park the remaining amount for the low base rate? I'm always on the look out for fixed deposits, which unfortunately has been disappointing this year, and would place a $10k to $25k in them for a year…

Goal Met: Saving $100k at 25

pic from google images

Well, hi guys.

I've been putting off this post for a few months because I want to be completely sure that after deducting my expenses, I indeed have that amount I've goaled. So here goes.

I officially have $100k cash savings before 28.

But to set things right, I've been saving since young. For the purpose of this post, I took out my POSB Kids Savings passbook which was set up when I was 9. I still remembered that the first amount put in was $1, and I received a POSB squirrel raincoat! My parents deposited $161 during that first deposit. Gradually, more money were deposited. It could be money from my scholarship awards, bursaries, Eagle Awards and whatever monetary incentives I achieved in school. Of course, in goes my angbao money (which my mom took back a portion - technically, the angbao monies are from her, since she always lugi). I started working as a temp at 17, and continued to do so during school holidays.

By age 19, before I entered uni, I a…