Seeing how hard it is to actually accumulate the amount of wealth needed to retire at 40 as an average working class, I think it is time for me to define my financial goals. Well, in fact, I’ve already defined them earlier this year, but I’ve decided to record them down in my blog so I can use it as future reference.
So here they are! *drumrolls*
- At Age 30, achieve a net worth of S$350,000.
- At Age 40, achieve a monthly passive income of S$3000.
- At Age 45, achieve a retirement portfolio of S$1,000,000. (and probably be able to retire)
- At Age 55, have no more financial obligations. And (fully) enjoy retirement!
I’ll refine the list as I go along.
These goals are important. They set a clear direction for me, and will determine if what I have been doing is working for me. I’ll come back to them frequently to track my personal progress.
That being said, I want to explain my goals in detail, and what I have achieved so far. Continue reading “My personal financial goals”