I love taking conventional assumptions, and then systematically destroying them. Today, let’s talk about an assumption that’s been on the Singapore personal finance blogosphere for the past week:

“It’s impossible to save $100,000 by the time you’re 30.”

Really? We’ll see about that.

 

The Excuses

Last week, the Sunday Times ran an article about how it’s entirely possible for an average Singaporean professional to save $100K by his/her 30th birthday.  Okay, the article made some pretty generous assumptions, such as being able to earn 2 months of bonus above your Annual Wage Supplement (AWS).

But you know what I found especially fascinating? It was some of the responses to that article, published in today’s edition of the Sunday Times:

“I don’t think life would be meaningful if one is constantly stressed about every dollar and dime spent and looking forward to getting $100,000.”

“Imagine how …