What are the possible ways to achieve this amount?

I recently just met this 50y/o retired HSBC director.

And his answer blew my mind.. 🤔

From simple surveys, for an individual who is looking to live at a decent sized apartment, enjoy some leisure activities, with some savings for the future, it will be at least SGD8K/month.

This will allow the kind of life where you could live above the basic needs, such as overseas travelling, ehailing, having some drinks from time to time, that is assuming you have a secured income stream with little financial commitments 😉

And the key word here is SECURED INCOME✨️ Here we are not talking about incomes from stocks and cryptos trading, freelancing, and self-employments. Well, having full-time jobs nowadays aren't secured, too 🥲 hard truths.

Then, he summarized a few traditional methods:

💵 Savings/Interests

- Assuming an annual interest yield of 3.5%, you will need at least around SGD2,900,000 of savings, to have ~SGD100K/Yr

🏘 Property/Rental

- You will probably need a 3/4BR 1600 sqft condo of a value of ~SGD3,800,000 to have a rental income of SGD8K/month

📈 Stocks/Dividends

- Top yielding stocks (REITs etc) of annual dividend payout of 5%, you will need ~SGD2,000,000 for ~SGD100K/Yr dividends

It's actually not impossible, but it is super challenging.

It may take decades, but the point is to retire early, right?

There's a 4th way, which not many people would know how to tell us. It's rather modern that we see being adapted by many big unicorns such as Apple, Grab, Airbnb, Lululemon etc. Which is called LEVERAGING ✨️ on shared resources.

And for him, he has built a community of talents where everyone could leverage each other strengths to commit to achieving a common goal. With the Power of Leveraging, there's no need to give up your full-time job, your lifestyle, to build a sustainable & passive community business that can expand itself, that gives generational wealth 🔥🔥

Can't think of a better method than this. It has been proven, and more importantly, it is duplicatable! Glad to be able to join a community of lawyers, engineers, nutritionists, pharmacists, accountants, and more 🤝 (in my next few photos). While we are actively working hard on our full-time job, don't forget to start building a well for your long-term needs.

Hope this provides some inspiration, and what's your way of building a steady SGD8K/month?

#BeReal #MyFreeTime #financialfreedom #community