The SS above has been one of the most interesting stories that I’ve read on Reddit. A combination of luck, intelligence and guts and really set someone up really nicely.
A common goal for many individuals including myself would be to reach 100k at the age of 30. But for you to achieve it, you would need to invest at least 1.5k per month with a 5% return per year and you should be able to reach this goal in 5-6 years.
Theoretically possible, but taking into account other big expenses such as wedding, getting a flat, car and etc. This goal may not be as simple as it is. It’s always simple in theory but never easy to execute. Which is why having a plan is imperative.
Furthermore, expecting a fixed 5% return per year on your investment can be too idealistic as you must remember that stocks be it VOO or other investment vehicles fluctuates. So there will be years where you are up 30% or down 30%. Hence the price you pay for your assets MATTERS regardless of the fundamentals and past performance. Doesn’t make sense to buy an expensive asset regardless of how life-changing it is.
Adulting can be daunting and scary esp when you meet up with your other peers who are doing much better than you. Making mental comparison can be inevitable. Having said that, key is to focus on your own journey and keep going at it.
I agree with this. But this is a highly risky strategy esp when you apply this to micro-caps. So DYOR.
Going forward, I am bullish in AI related crypto or stocks. I do think that this narrative has legs and will go far. So, I’m gonna position myself for it. Going for the highest ROI for this.
I do think that reaching 100k at the age of 30 is completely possible but it takes a tremendous amount of work and sacrifice. Esp those that are planning to get married and get a house etc.
The presence of such immense financial stress has led many to sought for alternative investments such as Crypto or even get rich quick schemes. Unfortunately, many scammers prey on this intense desire to “make it” only to benefit their own pockets. The list goes on, so it really pays to be financially literate.
I guess that’s all I have for today. Will look back at this in a few years time and see if I’ve managed to hit my goal!