facebookTurning 28 next year. Aiming to end off this year with 100k net worth excluding CPF. Is 100k considered impressive? - Seedly

Advertisement

Anonymous

27 Oct 2020

βˆ™

Saving Hacks

Turning 28 next year. Aiming to end off this year with 100k net worth excluding CPF. Is 100k considered impressive?

Seems like many people around me are high income earners making at least 5k/month, some of them even making 8k and above. I think they are way more likely to have a higher net worth than me. Feels abit left behind. Am I considered average or above average?

Discussion (2)

What are your thoughts?

Learn how to style your text

Alex

22 Oct 2021

Senior Manager at Great Eastern Financial Adviser

Who do you want to impress? Your parent? your partner? your friend?

​

To parents, they only care if you are well and will still worry about you, even though a lot of time they might not express. You don't need to impress them because the day you came into their life you have already done that.

​

To partner, if she/he is only impressed with your net worth but not who you really are then good luck, hell will come.

​

To friends, you don't go out make friends by showing your net worth and by impressing them with your net worth is as good as inviting trouble because when they are poor you will be the first to come to their mind to borrow money.

​

The key difference between earning 5k and earning 8k is not the 3k, it's about how you manage your money! You may earn 5k but on averagely you only spend 1.5k, which you are able to save 3.5k. On the other hand, they are earning 8k but their average spending per month is 7k, which left them 1k, so who is better?

​

Earning higher obviously is good but the key is one spending and saving behaviour that make a difference. Also, it depends on what you spend on if let says you use the money on an Asset that will appreciate then why not? Whats' scarier is spending on drinking/clubbing/gambling that give you temporary happiness that you might eventually forget.

​

Average or not you only need to impress yourself, it's your own life so work for yourself or your family that's all.

Shania Loh

27 Oct 2020

Seedly Student Ambassador 2020/21 at Seedly

Hey Anon! Regardless of how the people around you are doing, good job on hitting $100k before 30! I know it can feel like you are behind especially when the people around you are earning more or doing better than you. But the fact that you are hitting $100k before 30 is already a feat itself! Keep your own goals and circumstances in mind to assess for yourself where you stand.

Consider changing up your investment strategies or take up a side hustle now whilst holding on to your full time job to have various income streams and increase your monthly income!

Hi Anon,

Congrats on hitting 100k at such young age! feel that comparing to others often cause us ...

Write your thoughts

Advertisement