Reaching 100k by 26??

I managed to reach my mini goal of amassing 100k!! net worth (excluding CPF) by my 26th birthday! This was an important milestone for me as I will be embarking on my own personal journey to CoastFIRE by 40. (Will share more about this goal and what CoastFIRE is in later posts)

This was a huge feat for me honestly since I do not see myself as a high earner - my first job had a starting monthly salary of ~3k (with only one month bonus). Current salary is about 4-5k .

But I have to caveat on how privileged I was on the following:

1) I did not have any loans from uni, my parents paid it off using their CPF and waived the repayment.

2) My parents have their own retirement plans sorted out (aka they are not financially reliant on me) and I only have to account for a token sum of allowance to them monthly.

I managed to achieve the above by living below my means. It does not feel like I am restricting myself too much - I will still splurge on experiences, but I have come to attach far less importance to material items.

A large chunk of my net worth is also working for me - in high yield saving accounts, low risk instruments and stocks. I also do options to get some extra income from premiums (trying to average about 1.5k a month)

Trying to live more intentionally and ensuring that I am still living a balanced life despite this goal of mine.

Also kind of controversial but I am a personal believer of not mixing your insurance with your investments. Insurance is very Important for protection yes, especially with regards to hospitalisation!! If your FA ever recommends you an Investment Linked Plan without ensuring you have your protection in order, please… find a new FA.

#hellolemon8