Accumulate $100,000 By 30 Years Old?
Today I came across this article regarding accumulating $100,000 by 30 years old, by the way the original article is from Straits Times, you can find it here . Of course it's possible but it doesn't apply to everyone, I hope people don't go ahead and think that it's a benchmark, there are too many variables to consider. Let's look at the numbers: 1. Accumulate $100,000 by 30 years old. 2. Start work at 25 years old. 2. Earn $3050 per month as starting salary. 3. Get 4.5% increment per year. 4. Get 3 months bonus per year. The article also says if you save 20% of your take-home pay and depending on whether you invest or not, you can accumulate between $49,000 to $53,700 by 30 years old. But in order to achieve or cross $100,000, you have to save at least 50% of your take-home pay, and the article also mentioned the following which is very important: "With some effort, young people can achieve this, especially if they do not have heavy commitments suc
