We all heard before, ‘Its not a matter how much we earn, but how much we save’. Right? Where many forgot to actually save, we ought to be aware of how much you are spending your money as well.
We all agree that real estate though is a great wealth generation approach. Many are not able to achieve their 1st property at an early age. Due to perhaps just starting out in their career, not much savings or simply spending too much and not planning for the future ahead.
So question is, how much should you be saving up in order to achieve your desire wealth goals that potentially will allow you to grow them in years to come?
Many who deals with some form of investments, be it, real estate, bonds, unit trust..etc will have some basic knowledge of wealth creation.
In our case here, we break it down into simple steps and layman enough to start saving so indirectly, it forces us not to spend as much for a better future.
Here is a great video from CNBC that its relative to our article.
Here’s how much you should save at every age
All of these ranges are guidelines, not strict rules. But if you do adhere to them, you’ll be in a much better financial position than you would otherwise. You will be mindful of what you spend.
Whats been showcase is a very conservative approach and do realize some of these guidelines will be tough to meet in areas where housing prices are extremely high like in Singapore.
For instance, by spending between 8-and-23 percent of your income on housing at most. Housing has always been an extreme impact on achieving financial goals, yet it could potentially also help one achieve faster with proper planning and guidance on the right property across a real estate life cycle.
See here to understand more about Housing Expenses.
#unlockrealestatewealthnow #clientsforlife #futureofrealestate #singaporerealestateinsider
Submit your details below and we’ll get Back to you within 24 hours
