SG Millenials Finance

31/01/2022

Wishing our readers and followers a Prosperous and Fruitful Lunar New Year!

31/12/2021

Happy New Year to everyone! May your new goals be attainable and the year to be smooth sailing ahead!

24/12/2021

SG Millennials Finance wishes all our followers a Merry and joyous Christmas! Happy Holidays!

06/11/2021

As the wise man once said.
Controlling your emotions well
Controlling your finances better.

06/11/2021

If you are having some Financials difficulties with your current lifestyle, you need to review it. Here are some tips to get you going and started.

06/11/2021

Of course we are no Warren Buffet.
But to get there, we have to start some where in order to achieve our desired outcome in retirement.

02/11/2021

11/02/2021

Wishing everyone an abundance of wealth and Happy Lunar Niu Year!

03/02/2021

Inflation is a hidden killer.
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One of the main reasons to start investing sooner than later is so that you can start building a base of assets that have the ability to grow in value at a faster rate than inflation.
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There is no telling what the actual effects of the amount of dollars have been printed this year will have, but I think it’s reasonable to assume at some point we’ll have to plan for higher rates of inflation than what we’ve seen in recent years.

In the 2nd picture,
If you have seen the MAS website on Goods & Services Inflation, it’ll give you an idea of what you need in “2019 dollars” in order to purchase x amount of dollars in goods in the past. (2020 data not out in MAS I presume)

Singapore Inflation rate since 1965 has averaged out to be at 2.7%.

In 2040, it's gonna cost $16,590 to buy an item that cost you $10,000 in 2020. That's the real it of inflation.

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Assuming you need $5k after tax ($60k monthly) to live comfortably, using an average (conservative) inflation rate of 2.5%, you’ll need $76,805 to live the same exact lifestyle in 10 years.
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In 20 years, you would need $98,317 to live the same exact lifestyle you’re living today on that budget.
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“But what it my salary goes up at the same rate as inflation?”
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I guarantee you at some point in your life, you’re going to want to have assets that will replace the income you were earning from your salary.
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In my time as an advisor; I primarily worked with clients either in retirement or approaching it.
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Accounting for inflation as a part of their portfolio income for the rest of their lives was one of the more important parts of the financial plans I ran for them.
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Just another reason why it’s so important to educate ourselves financially & to start building wealth as soon as we can.

18/01/2021

📈Investing is making your money work for you!✅

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