The first time I was exposed to the $100k challenge was about 15 years ago, when I was a freshman in NUS.
I started reading Christopher Ng’s Growing Your Tree Of Prosperity and I was mind-blown as a 20 year old.
Christopher advocated Singaporeans to save up $100,000 to better prepare for the new world. Assuming a 6% yield, this would allow one to have an average passive income of $500 a month, offering a basic protection against unemployment.
Wise words indeed.
But this movement only took on momentum of its own about 7 years ago when Jonathan Kwok wrote an article published on Straits Times, the national newspaper. It illustrated how an average 30 year old could amass $100,000 before turning 30.
And it inspired a host of Singapore financial writers/bloggers to achieve a 6 digit milestone before hitting the BIG 3. Some notable ones that I have read include accounts from BudgetBabe, Jeraldine Phneah and Ruiming.
One of the latest I have seen is a YouTube version from Miss FITFI....