By: Adrian Khiat

I met a retired teacher this afternoon and we chatted over a cup of tea. We discussed about leading a meaningful retirement and about how many young people like us find it hard to save adequately.

After complaining that people of our generation find it hard to save, he began to share his concept of savings that he adopts since he was a boy. What are his concepts?

1) The concept of “70-20-10” salary allocation
* Ever since he get an allowance from his parents as a young boy, he allocates his allowance strictly according to the 3 numbers. Read more…