Living in Singapore can be really stressful. Due to the high cost of living, life is constantly about planning ahead and working toward certain milestones such as marriage and starting a family. Every milestone comes with a price tag!
This article serves as a benchmark to how much you roughly need for each milestone in life and a strategy on how much you need to start saving/investing every month to clear this debt.
Fact: You will probably spend up to $422K by Age 30
The early life stages of a Singaporean involves 5 most financial milestones. According to our research from Singstat, these milestones take place by 30 years old on average.
The total average expenses amount to around $422K (a portion payable via CPF) Aim for $1,000 or more combined savings/investments at ~8% interest with right instruments This will allow you to hit that amount within 18 years with purely savings/investments Do …