If you are 30 years old and not yet serious about finance, you are…like most people. It’s common to ignore serious financial mistakes and money issues until you need your first house, first car, first surgery, etc.
And who can blame you? Finance is dull. Just look at those finance experts on the news – we’d rather watch an Orangutan pick nits out of its armpit on Discovery Channel. At least there’d be less maths involved.
But never fear: here’s the easy version of what you need to know from lessons distilled from years of poor life choices:
#1: Not Having Enough Savings By the Time You are 40
At the age of 40, disasters are suddenly magnified. What do we mean? Well consider the typical responsibilities of a 40-year-old Singaporean:
- Looking after parents
- Paying the mortgage
- Creating an education fund for the children
- Dealing with car loans, renovation loans, ...
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