Skip to main content

What am I saving for as a 30-year old?

I wanted a morbid title - If I drop dead, I'd hate myself for not spending my money. But since it's a new year, I shall make it less disgusting. You get the drift.

I thought about this on 30-31 Dec 2020 when I was feeling damn sick. I had bad gastric (thinking if I've gastric cancer), fever at 37.9 deg then dropping to 37.2 deg, then back up, then dropping to 36.8 deg (thinking if I've covid), backaches (again, is it Covid??). My brain was overthinking. While friends were hyped up for the new year, it was just a mundane day for my hub and I. No celebrations with friends and no fireworks to look forward to.

Anyway, I thought, IF I'm really sick, and I suddenly drop dead, I'd be pissed I didn't spend my money. With at least $350k accessible money now, what exactly am I accumulating for?

I've no kid. I don't need to leave a legacy.

My parents and husband and self-sufficient. 

So what am I saving for?

I pondered....and realised I've nothing I want. My goals of accumulating more money is for a sense of security. 

I don't crave for material things. I don't need cars or branded handbags (I wanted a Chanel but feel I've no class to carry them). I don't mind chasing for the newest iPhone every 2 years though my iPhone 11 pro max is working very well. But that seems to be it. 

I like to eat good food, but good food also meant famous hawker stalls that doesn't cost a lot. I'm over the cafe phase cause it's not nice (just for the ambience). I like occasional treats to fine dining but I'd also make sure I source for promotions.

The most expensive item I want...is a private property. I suppose this is what I'm saving for.

I'm also saving to pay the monthly mortgage, bills and insurances as long as I continue breathing. 

It is also to bring me through retirement if I want to retire at 40, all the way till 90-100 years maybe? 

Just talking to myself to understand what I want. 

Labels:

Comments

  1. UnknownJanuary 15, 2021 at 7:01 AM

    Haha I get you. I do have feelings like this too. Sometimes I think that I have a love hate relationship with money. I am well padded, spend less than my means, but I think so hard when I need to spend $3 more for something when I can walk 10 mins to get it cheaper. Damn Ah Soh. So much so that sometimes i wonder if I have some deep seated insecurity of being poor and having to depend on someone else.
    Congrats on being self sufficient at 30. 350k is a lot!

    ReplyDelete
    Replies
    1. CherryJanuary 15, 2021 at 11:35 AM

      :( I've been ah soh since young lol. I also think 350k is a lot, yet it's still "not enough" for me to totally stop working. 😫

      Delete
  2. StellaJanuary 27, 2021 at 6:00 PM

    Hi, may I know how you managed to save so much cash 350k? Any tips? May I know how much you able to save monthly ?

    ReplyDelete
    Replies
    1. CherryJanuary 28, 2021 at 11:08 AM

      Hi, $350k is accessible cash which includes stocks portfolio (if I cash them out). You can refer to my past posts on how I grow my money -

      https://simplebudgetsimplelife.blogspot.com/2020/10/500-900month-passive-income-may-sep.html

      https://simplebudgetsimplelife.blogspot.com/2020/08/my-300k-cash-savings-breakdown.html

      Delete

Post a Comment

No rude messages please. Unkind messages and spams will be blocked and deleted.

Popular posts from this blog

SGD$1,000,000 networth unlocked 🎉

As of 8 Dec 2024, I have officially unlocked the milestone of $1m networth ðŸŽ‰ This is all thanks to the increased in value of my crypto holdings as well as my US stocks. My HK/CN stocks are still in bad shape. On stocks front, truthfully, my overall investments is still in the red. I had made mistakes in stock picking and has not taken the opportunity to cut losses. I had the view to hold and pray those stocks in deep red would go up - after all, I told myself I don't need the money right now. On crypto, given that BTC has bounced back, I'm sitting on decent profits. I've been cashing out bit by bit. The last I spoke in Mar , I cashed out a rather sizeable amount of BTC at 50% profit. On hindsight, if I had waited till now, I could have cash out 3000 SGD more. Anyway, this time round in Nov, I cashed out 2 times, at a 70%-80% profit. Not bad considering the rest of my investments. As long as there are no major global events impacting the markets negatively, I believe I woul...
2 comments
Read more

🤞On track to hitting $950k networth by end 2024🤞

Another blink, another year ending soon. How have you guys been? I wonder who else is still monitoring my blog despite my lack of updates. Again, so much has happened, but not much have changed. I travelled well, continued with a 3rd round of IVF egg retrieval (result was extremely poor), and went through uncertainty at work due to restructuring but was thankfully able to keep my job. I still haven't fulfil my dream of being a mother. Though honestly, it now feels more like a checkbox to be unchecked than the actual fulfilment of wanting to nurture and grow a child. I think the weariness is getting too much. I will embark on my final transfer within these few months. This would be my 7th transfer. If it fails, I'm likely going to stop further treatments. I have already done the best at my "peak".  I am telling myself that my life is still amazing despite these hiccups. Anyway, onto my financial goals. Back on 31 Dec 2024, I posted my goal to achieve $950k networth by ...
1 comment
Read more

Cashing partial BTC out at 50%+ profit

My first foray into crypto was during the hype. Back in Feb 2021 During Feb 2021 to Jun 2022, I added in bit by bit - DCA as what they say. BTC, ETH, MATIC, SOL and even the horror LUNA. Thereafter, as crypto crashed, I stopped, praying one day it will rise back. And today, as I found that BTC is now at ATH, I decided to cash out 1/4 of my BTC for some profits. It's still a far cry from the amount I've lost, but I'm glad I could recoup some losses. Just to detail for my future reference, I transferred my BTC from ledger to coinbase. And sold my BTC on coinbase to SGD, incurring an atrocious fee of $130 and GST of $12. Gone are the days of cheap transaction fees.  Please let me know if there are wiser/cost effective options. In total, what I took back was a profit of 50%.  May BTC rise up more so I can cash out at 100% profit next. -dated 9 Mar 2024-
Post a Comment
Read more