I saved 100k at 25 but don’t know what to do with the money
Not sure where to share because want to be confidential as possible, but I managed to save what many people call ‘the first pot of gold’.
I’m not here to show off, just wanted to say it somewhere because I don’t trust my friends or family to say this out loud to them. I am 25, I didn’t go uni, worked hard as an employee, no business or side gigs. I saved everything by budgeting and not spending on luxury as much as possible.
Problem now is what do I do with this money? Many people say buy property but at 25, I am not eligible to a lot of affordable options. I have no partner, so not gonna use the money for BTO. I’m also not looking to splurge on luxuries like condo or car or anything. I can save more money but I’m at the point where I don’t know why I am saving. I am also scared of scams so have been secretive about my finances.
They say with 100k you can FIRE and retire early, but it’s just numbers in a bank account to me. I can’t do much with it unless I invest. Maybe woke salaryman will see this and help, maybe an insightful commenter can help.
I thought after hitting the goal I can feel some sense of relief, but I am more confused than ever.
Here are what netizens think:
- 100k is not alot of money, above 21 can buy condo.you deposit for a condo and you’ll realise,100k is really so little. Then again you say you don’t intend to get a condo then wait till 35 to LEASE a hdb flat since no plan to get married. Honestly,100k? Really a small amount unless you live in a 3rd world country where you can buy land for 10k.
- You can clearly see how people are spending too much of their money in SG due to rampant consumerism, just by the comments on this post. 100k may not be enough to retire but it’s definitely a great start for investment. I would suggest diversifying ur portfolio by investing in gold, crypto, evergreen shares and get insurance perhaps. If u are not inclined to make more money and can survive on 2k/month – u would last for 4 years, which isn’t long. U need 1 mil to retire, if u intend to live for 40 years.
- I think u need at least add a zero behind for retirement or more. Housing . Transport, food, insurance, medical. If u dun get married, u can only buy after 35 , or get one w ur parent first before it get too expensive. 100k u can even full payment for a hdb. U come from kampung ar?
- If your money isn’t being invested in some bonds then you’re not letting the money work for u. If you don’t want to have your money locked in for toolong a time, buy treasury bonds locking them in for only 6 months.