Tips On How To Calculate & Reach Your Long-Term Saving Targets | Money Mind | Savings

Young adults in Singapore told Money Mind that they think they'll need $5,000 a month for retirement. What savings and investment strategy would you need to hit that retirement target?
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[@PastelBrownie]

Kyith is helping his parents to pay mortgage. You can read his blog over the time and know him better. Although he is perceived to be frugal but he is still kind and generous. He is not stingy and how does people know he doesnt enjoy his life? He eat in restaurants as well but he may prefer to prepare his own meals due to health reason. He has eszcema and nothing to do with frugality.

[@KyithNg]

Thanks for explaining!

[@stickymoney]

Hats off for achieving FIRE at 40+. But one has to keep in mind that Kyith has a house paid for, single and not sandwiched between caring for his parents and children. And in that light, how applicable is Kyith's uncommon circumstance to the general population? Such is the disconnect that is commonly found in mainstream media. Also, it's scary to think that despite Kyith's discipline and mindful efforts to accumulate wealth (of around 900k by 40+) , he would still financially be struggling to keep up with much of Singaporean's aspirations.

[@schadenfreude6274]

Yea he totally looks like a Virgin. 😂😂😂

[@tanjunmin9597]

While you can't choose when your parents die, you can choose not to have children.

[@Azel247]

It's becoming more and more common all over the world

[@DLG24]

My point exactly. He is somewhat of an exception to the average person looking to retire early.

[@WanderlusttheWorld]

He is able to find happiness in simple basic life. No need to bash him. If you guys need to have children, fancy car, phone, restaurant, flashy clothes, holiday in order to ‘happy’, then you will pay with your miserable working life. Nobody wins here.

[@stickymoney]

ironic that you commented "no need to bash" Kyith but proceeds to bash the other group for their own definition of happiness.

[@imrank9282]

​@@stickymoneyExactly, immediate hypocrisy 😂

[@WanderlusttheWorld]

@@stickymoney yah, Thats what i am doing.

[@kinokunia]

@@stickymoney "gotcha b1@tch" moment. welldone

[@MasterLeong888]

then u bash others for what lol, clown!

[@aarondaniels5525]

Still with Tesla stock, investors can never be sure what will happen next, bearish periods ultimately establish a new set of stocks to buy and watch while setting the stage for a robust new uptrend. I have been reading articles of people that grossed profits up to $250k during this crash, what are the best stocks to buy now or put on a watchlist?

[@AmberDen5293]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ ETF you focus on.

[@charliehunnam5187]

Very true, I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@donalddavis4387]

Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I'm in dire need for one.

[@charliehunnam5187]

She's Sophia Elaine. One of the finest portfolio managers in the field and she's mostly on Telegrams, using the user name.

[@charliehunnam5187]

She's Sophia Elaine. One of the finest portfolio managers in the field.

[@user-rx7nb7te5y]

Can't use Keithyn as a valid example of retiring early while young as he don't need to buy and pay house mortgages, he don't pay for children education and most probably also have inherited some money from his parents too. Needless to say, a $2,000 monthly income is more than sufficient for him to retire comfortably

[@jensonchen]

You mean if people choose to be single, they are not valid?

[@syph365]

No need to pay for house is a huge financial relief

[@AlanSmith88888]

No need pay for wife and kids or any other family members is what got Kyth to where he is today LOL

[@mteevie1609]

@@AlanSmith88888 at the end, loneliness is a big killer with humans.

[@arsenal_84]

​​​@@mteevie1609waiting for loneliness to replace cancer as the number 1 critical illness in SG. 😂

[@A.Singaporean.Stocks.Investor.]

So many investment and personal finance bloggers in Singapore, Kyith was one I used to follow. I am retired and a full time gamer now or I would still be reading his blogs. 😋 I would recommend anyone who is serious about achieving financial freedom to read his blogs. 💯 If AK can do it, so can you. 😎

[@MasterLeong888]

cannot imagine you taking off your mask and glasses, wonder if u look as bad or even worse hahahahaha you two can be best friends kekekekeke

[@MasterLeong888]

power of STINGY FIRE ahahahahha have millions but no wife no kids, just camp home play your game can already lol now everyone whacking FIRE

[@valuabletips560]

​@@MasterLeong888your face is literally a beehive bro...😂

[@SongPorTan]

​@MasterLeong888 what's with all the personal attack remarks?

[@rayne5368]

Both master leong and AK are my idols. lolx. I am also investor here. To each, his own. As long as happy, can le. I am downloading free games, waiting to play when older like AK. But I am thinking of leaving SG one day on back pack. Prefer to be nomad capitalist. Hopefully with a life partner by then.

[@marinekong235]

wait that guy at the start of the video inherited the flat from his parents and chances are he stayed with his parents his whole life, so that's why he can save. that's not a real case scenario.

[@NinJa-qr1sp]

Yes he has somethings working for him. No mortgage etc. But its the fundamental lessons to be learn here that is applicable for most of us.

[@glutzoid]

Not to be sour but this is just surviving, not living for sure. But to all for their own, each leads a life they feel happy is what makes a life worthwhile.

[@KyithNg]

I think that is a fair comment. What you say make sense. I would frame what I say in a different way. For most people, to be able to retire fully, you need a degree of capital that can take care of a lot of possibility life throws at you. For example, you are providing for your own family of two kids but then your parents become really sick and you need to provide them $1000 a month for a period together with your other siblings. This was not in the original FIRE plan due to.... poor planning or this is the way life is. Given that, how do we buffer for so many possibilities? I would throw out a more conservative and larger capital but the fact is that you would need more money for this. However, I think that for most people, if they are able to take care of both themself and the spouse most essential spending, it alleviates a lot of life pressure. How would it feel if instead of providing for your whole family, you know that you have an income stream to take care of you and your spouse, daily food, transportation, utilities, simple home maintenance? I have a feeling most would feel more liberated. That is my thinking. For sure, that might not be the life you want to live on an ongoing basis, but everyone should feel free to work and build up more if that is the life they want to live

[@GooLid-eh4og]

I wonder whats keeping him rooted in SG . Because , without schooling kids , he is not tied down here . Rent out his HDB for 3-5k , then rent an apartment in JB for 06-0.9k

[@Starrysequence]

If I'm really serious I spend about $4 or less per work day on transport. I grind my own coffee beans, it's 6c a cup of coffee and 1-2c for my tea. Home cooked food for lunch and dinner with stuff brought on vouchers

[@GooLid-eh4og]

Honestly you will also have fewer health impairments skipping take outs / eat outs than deliberate home cooked food . The amount of low grade cheap ingredients used in commercial cooking is scary .

[@jierenzheng7670]

Cheers for the interview Kyith! Great to see you doing well.

[@freakingspider3648]

You must think abundantly not frugally. In Abundance all things are in excess in your life, In Frugality all things must be cut out in your life. Godspeed everyone ~

[@stickymoney]

well said! one of the most impt concept to grasp

[@stickymoney]

$5k/mth as a retirement goal for CEO of Manulife, who are you kidding?..

[@jamesmadison3108]

u mean CEO need 20k for retirement goal? $5k is decent enough to be honest. You seem to say COE when retired MUST spend alot? $5k cannot ah? Need to everyday eat restaurant food ah?

[@stickymoney]

@@jamesmadison3108 $5k is decent for your level, yes.

[@stickymoney]

​@@jamesmadison3108 You seem to freely make alot of assumptions about my comment in your statement. I'll take it that you are a simpleton & $5k/mth must be sufficient for you then. Happy to know that.

[@leeaaron7856]

It is always better to educate the younger generation that in order to achieve Financial freedom, it isnt about the amount of money in the bank (ie, savings account), its is 2 things. The 1st is to explore and find out what is your most powerful skillset that you have. If you dont have one, learn and experiment is the key. Only by having a good skillset, you can then capitalize it by using a financial vehicle. Keith in this video has achieved that identifying and buying/selling of high dividends stocks. He must have learnt this skill of stock trading through a long period of time. The other is being debt free. To be financial independent, one has to be free from debts, including mortgage debt. This is important so that you are not at the mercy of the lender. This gives a peace of mind for a person to stay focus on his investments using his skillset.

[@anglo-saxonconnor817]

Retirement is easy in Singapore and you can retire anytime you want if you are single and have a fully paid up flat or bungalow. Because in Singapore the house pay for a person upkeep and generate income for the owner due to high valuation price. But there is always a catch in life in all things. Most people wont inherit anything in life and what they have they will have to work for it themselves which will take up alot of years and majority of people will be old anyway when they retore in this manner and route. Exception are those who have no one to fight over inheritance with and have parents and extended relatives to have assets to gift and pass down to you. Then you really can start to shake leg in Singapore from as young as in your 20s to 40s.

[@MrSanrio86]

The better approach to FIRE is to set your monthly/annually expense at a higher side before applying the 4% rule. That will give you a safer cushion and allows your money in portfolio to grow more. 3-3.5% withdrawal will then be possible if you could prolong your FIRE year fore few more years. Finally, pay off all your mortgages and other liability loans and you'll set for a high chance of never returning back to work at all!

[@KyithNg]

I think paying off your mortgages and liability to loans make sense. I think that gives a peace of mind. When you use a higher income, which in your words is higher expense for planning, you are creating a buffer or margin of safety for the spending volatility or surprises that comes along the way. That is helpful. But i think people should take note that the safe withdrawal rate or the 4% rule is already a plan with buffers. the rule works out what is the highest income that you can spend in the most challenging 30 year, 40 year, 50 year retirement periods. The most challenging period is one in the past history where inflation is like 5.5% p.a. for 30 years straight. So we are providing like 2 different layer of buffers if we implemented your suggestions.

[@gohsl2876]

Agree… paying off the loan makes sense! I am on my way there…40% more to go.. the go for ERS with cash top up is on my plan

[@user-wq8mt7tt2m]

I frequently done my dental care at JB as it cost only a fraction of the price in SG and the quality is just as good! Forget about polyclinic dental as the wait time is unacceptable and the dentist is very cold and rush rush type! Hope this help to fix the crooked teeth which Kyith urgently needs to look into!

[@syw5261]

Thanks Kyith for sharing your story!

[@GooLid-eh4og]

I find that if manage your expectation well you will be able to better optimize on your earnings . For example , if you always react to situations and always want to come up on the top , then you become stressful and tend to throw more money at drinks , smoke , eat out , travel , material goods . Then that kind savings : income ratio puts you on the treadmill forever non stop .

[@mymemorieslane]

Not to be mean but since he is already rich enough to be financial independent, I would recommend Keith to spend some money on repairing his oral health. It looks really bad, I wonder how he is able to enjoy his food properly at such stage.

[@justgado2772]

Oral and skin. I think he has allergies to some things? but never check it out. What the use of financial independence without health.😤

[@KyithNg]

I can still eat properly, and its not that I don't wish to spend money upon but there are some complications as explain by my dentist that I cannot get them fixed properly.

[@KyithNg]

@@justgado2772 I had psoriasis since I was 15 years old so that is a long running problem. With many that suffer from the same thing, I went through my rounds of looking for western and alternative medical treatment. I decide not to take too much medication because there are some side effects for the things that control these autoimmune problems. I would either get my kidney or liver consistently examine while I take these medication. But if I take them, it may not improve what you see on the outside (as seen in the video as well). So if you were me what would you do?

[@kinokunia]

@@KyithNg go see Q&M at bugis ask mr Yong, hes a miracle worker or orthodontist

[@gohsl2876]

I love your sincerely Kyith. You are a nice guy

[@lidna82]

Through 30s to current 40s, my wants/ needs have transited to more experience (think having a family, overseas trips with activities not possible in SG.. etc) and comfort (ergonomic furniture, less stressful careers) from material (luxury watches, fancy gyms, nice cars... etc). There's no point in keep pursuing the next shiny thing. Everyone has a different path and so in the pursuit of our own happiness at different stages of life, we use our money differently. No need to YOLO or FOMO.

[@josephd9079]

nice video but the singapore standard for $5k is specific to Singaporean (pls count inflation) no harm having that goal .

[@GooLid-eh4og]

Yeah 5k accounting for inflation (i.e having 5k monthly by the time you are 60 ) seems to be more reasonable . A 5k present value seems to be too rich/much :D

[@ryoji_matsuoka_singapore]

What about guitars? do you have a budget for that?

[@chaoticode]

That's the life i'm trying to aim for. But maybe with a certain amount set aside for holiday and concert. And having no kid really save up alot to spend on myself

[@reallydead]

Single or married/couple have their own pros and cons. it is just how u play to the best of (both of) ur benefit. single one source income with one source of expense. couple got two source of income with less than two source of expense (some synergy will result in savings, e.g. property tax u pay once only)

[@shojunichi]

Free house, no kids, no commitments, i think alot of us can reach financial independence early.

[@russiasucks7170]

dont downplay his achievements. It is his achievement after all. dont be a keyboward warrior

[@rayne5368]

I think he is lucky to have such a life choice.

[@mmy2955]

If no kids, no marriage and no need buy house (assuming parents passed down the house) many already financially independent

[@winwinwin282828]

He probably need to go back to work if he decides to get married and have children.

[@mmy2955]

@@winwinwin282828 maybe 2 jobs

[@adrianC_]

Can see he has some health issues - dental and skin issues (red scaly patches on his neck and chest). Don't skim on healthy food while you saves.

[@valh84]

He’s not AK leh, you got it wrong dude.

[@MasterLeong888]

@@valh84 i think AK71 looks a lot worse lol

[@valh84]

Again, not sure how educated you are, but the issues you mentioned have nothing to do with his frugality.

[@yixinwong5702]

@adrianC_ if someone has cancer, do u comment he/she didnt take care of his/her health? Kyith appears to have Eczema, it doesn't necessarily mean he has not been taking care of his health. I'm happy for you that you do not seem to have teeth or eczema issues, it is really great. However pls do not judge and show some humanity in you. Thanks.

[@martinbrock713]

Part of the problem is a disconnect between what the government has claimed to be basic, versus what Singaporeans themselves perceive as necessary for human flourishing.

[@EcomCarl]

Kith's journey to financial independence highlights the power of disciplined saving and strategic investing! 🌟 Remember, diversifying your investment portfolio can enhance returns and reduce risks, crucial for achieving long-term financial goals.

[@BbyRawkStar]

Saving on dental & health too i guess. There should be a limit to being frugal.

[@gohsl2876]

Agree. Personal outlook hygiene and dental health are important keys. We should live frugally but not to the extreme like him

[@jet-xr2zj]

Not sure if Kyith is exactly happy with his life even with the supposed money he has. No partner, health is questionable, shelter quite shabby. Likewise with an investment portfolio which should be balanced and diversified, one should also aim for a well-balanced life. But to each his own.

[@KyithNg]

Thanks for this comment. I think it is fair. I think it make sense to question my life without a partner and health is something that I think about more and more. Not sure if you know people of similar profile. Do they not feel happy about life? I do think my home is quite ok!

[@schadenfreude6274]

@@KyithNg You need to look after your teeth dude. Dental health is the most fundamental basic thing you need to take care for proper health. Your skin is also quite bad, and you seem to be suffering from extreme excema. The video doesn't show what do you eat daily, but you need to eat healthier foods. You look like you're disintegrating. No point exercising if you dont fuel up properly. You may be able to retire at 40 and sustain at 2k monthly, but your health will come back and haunt you in the future. And yes, I also think your house is very shabby.🙂

[@kinokunia]

@@KyithNg its really good to appreciate what we have and kudos to your money management, its not easy especially with social media era. As someone with absence parents i do wish someone would comment on my appearance more when i was young, any respectable young woman would strike out any potential partner with bad hygiene, sure you might not see the point as you are not looking for a partner but hygiene habits is equally important as monetary habits, and yes after you earn past some point, health is infinitely more important than money.

[@qwing123]

There's nothing wrong with being single. Indeed, it's better to be single than to be in a bad rship

[@jet-xr2zj]

@qwing123 Who ask you to be so pessimistic? If you are in a bad relationship, you can always choose to leave and be happy. What I'm bringing across is that a balanced life with financial security, someone you are happy with to share your life, etc would enable one to have a more meaningful life.

[@finalion]

I hope he use some of the savings to see the dentist, not nitpicking on looks because there is already no point. But saving only to get a bad toothache at night is not worth it !

[@DLG24]

I'm sure the life insurance payments from the death of his parents also gave him an added advantage, apart from also inheriting the huge apartment. Just those two things alone gave him a big advantage over his peers. People, every person's circumstances are different. It's best to take advice in the general sense. Take only what works for you. And always live below your means.

[@kesatria_gelap]

good job and good determine

[@jimmyfong5608]

Everyone leads different life, no need to be unkind with your words

[@GooLid-eh4og]

Most unkind comments seem to point to that he is not enjoying life . Yet i think it’s a matter of stimulation levels . Like if you constantly stimulated or over stimulated , you need always need higher stimulants , like more holidays , a faster car , a newer clothes .

[@mungpujanarko2256]

Nasib orang sungguh beda2. Tapi teknik menabung dan investasi bisa dipelajari dengan skala berbeda2 pd setiap orang.

[@smaanan]

What does financial independence mean if he still has to work? And at 43 he is late on other milestones in his life; like family, his questionable health doesn't help in this regard.

[@seandaniel3994]

Fire is best

[@lastempire7302]

Technically speaking, this dude's secret to FI are two words: "single" and "inheritance"

[@boliaohill6595]

To be fair, there are adults who live their whole life with their parents, without paying mortgage or contributing to the maintenance of the house (property tax, utilities, repairs), and still cannot retire, because they just spend and spend and spend. So Keith could had been that way, but with intent and effort, he came out successful against his goals.

[@hartonotai]

"inherited house"...that's the secret.

[@KyithNg]

that might be a secret sauce, but i wonder if i have the equivalent to buy a house, aside from any of the money mentioned, would that change the equation?

[@muppetzz]

Yes I feel it would change the equation if you had to buy the house yourself. You would have had to take a loan and pay mortgage interest and not reach that amount of savings by late 30s to achieve ‘financial independence’. Also please take note that majority of us have 2 parents who are living longer lives as statistics show that life expectancy rate for Singaporeans have now reached 86-87 on average. I believe CNA could have done better to use a more relatable example or at least give us a few examples of case studies.

[@arsenal_84]

Bought my 3r resale on single scheme. Hdb loan amount paid off until less than 100k, hopefully I should be about to pay it off in 5 years time and be debt free.

[@viper88448]

trapping more ppl in rat race is by design from govt. limited population will have the luck to inherit or buy cheaply of old hdb from their family when their parent pass away. sadly to say, single are pretty screwed in current climate if they wan to have more space they need to pay the premium.

[@NikkuJaga]

@@KyithNg you wouldnt have enough money to live off your reits then because invested value drops

[@jonhard12]

2k a month is doable provide that when most of your food or things are donated by someone Spending more money on health and have lesser saving is a better choice Single as a hermit in a 5room flat obviously you can have the ratio 80 to 20 Not healthy to save money is a bad thing

[@Luvmafammie]

Lucky to have a house paid for. Also I wouldn’t want to live on bare necessities just for the sake of FI

[@LonganLee]

We must ensure the rich continue to be rich. The poor can just save water and electricity and live on second hand items if they want. We must welcome inflation. Please continue to pay and pay. Better be frugal, so you can support the hikes

[@KLgenius]

need better candidate

[@Genesis06570]

People in the comment below judge the person by his looks. Not knowing his full potential, he knows what his doing, let him cook.

[@KyithNg]

Hey thanks man. They are right in a certain sense if it is based on looks!

[@globetrotterca]

@@KyithNgWell done!

[@KyithNg]

@@globetrotterca wah kamsia!

[@caveman7789]

It is funny that many who comment about FI yet don't seem to know @KyithNg, lol.😂

[@Shaftalooooo]

Let him live his miserable life. CNA should look for better examples. No kids No partner Shabby house In UK we call such a person scum.

[@mysticery]

Anyone here with experience can advice on whats a good low cost globally diversified equity to invest in?

[@KyithNg]

There are different platforms that will offer this out there but I don't want to go too much into it as it might cross over to providing advise, here are some handles to help. A low cost, globally diversified equity portfolio is one where the recurring total expense ratio or ongoing cost is low. globally diversified equity means that the equity fund owns a basket of stocks that are geographically diversified. To achieve this, there are unit trust and exchange traded funds (ETFs) that tracks certain market indexes that are globally diversified. Some of these indexes are the MSCI World, which tracks a basket of 1600 global equity stocks. Google "MSCI World index" and the first entry will be a PDF that shows you the index. MSCI World tracks the Developed markets. If you wish to be well covered in Developed and Emerging markets, there is the MSCI All Country World Index or MSCI ACWI for short. This covers the common companies like Microsoft, Apple , Berkshire Hathaway but also your Reliance, Ali baba, Tencent. When you buy unit trust and ETFs that tracks the index, you are owning a diversified basket of stocks. If you are a do it yourself investor, you can buy ETFs that trade on the London Stock Exchange (LSE) if you have a broker that allows you to trade there. The more you read, the more you will realize there are also ETFs traded in the US. The reason those on LSE is more suitable for Singaporeans is because the ETFs are incorporated or domciled in Ireland and Ireland have more friendly estate tax (death tax) and withholding tax rules so Singaporeans have less to worry there or lose less to taxes. Some common ETF names to go down this rabbit hole is the ticker SWDA (Google these ticker symbols and you should hit them in the first entry), which is one that tracks the MSCI World at 0.20% recurring cost, VWRA, which tracks the FTSE All-World index, which is kind of equivalent to Developed + Emerging markets. There are other ETFs from other providers such as SSAC (tracks the MSCI ACWI) or that i cannot list them here. You can trade them through Interactive Brokers, Poems, DBS, Saxo. Interactive Brokers tend to be the cheapest and you can google up about them. If you wish to buy them through local means, Endowus flagship portfolio is well implemented to express the same idea or you can get the Amundi MSCI World through their platform. Again, this is not financial advise but there should be enough keywords and information for you to go down and understand.

[@martinbrock713]

We also see sharply dissonant scenes: of the elderly picking up cardboard or selling tissue packs or clearing plates at hawker centers, of an underclass of workers who live in dingy, overcrowded rental flats and rely on food handouts, of people who quip that in Singapore you can be poor or you can be sick or you can die, but you cannot stop working

[@chenyitaotao2489]

Congratulation on achieving FI, but I think is time to think whether you should enjoy traveling around the world while single before when you reach 60 or 70 then is too late... Life is short bro.

[@arcencielc2065]

S$5000 per month? Stay in condo, own a car, dining and traveling regularly, etc. Enough or not? Fortunately, this is not a lifestyle that I aspire to have. I prefer a simple life. Less desire, less suffering. Haha.

[@TheFrancistan84]

Brad Goh where r u

[@stickymoney]

😂😂

[@Longtermalwayswins]

They didnt breakdown if his portfolio of 900k includes cpf or pure liquid assets. If it includes cpf more singaporeans will feel more assured i supposed. Its a more realistic outcome for anyone serious about pursuing fire.

[@martinbrock713]

Sengkang-the district I represent-recently saw flat change hands for close to a million dollars, and islandwide, close to a dozen four-room flats sold for more than one million mark in the first quarter, and observers expect this trend to persist.

[@junjun906]

Move to forest city? I live sengkang but quite happy that my 200k bto become 700k now

[@cathhl2440]

Most commenting about Kyith... I'm just shocked by what the young people think. $5000/month! Wow... No wonder depression also skyrocking. Unrealistic expectations and dreams.

[@limtc1733]

I think he can afford some luxury. Use money to make money. And the made money is free money, no labor or time needed. Take the 60% of the free money to reinvest. 40% you can spend it to make yourself happy. In the end, can't leave with all the money. Can be frugal, but don't need to stinge.

[@tritonyeah]

Why not target for higher like 4-5k a month? there will be even more optionality

[@filausopoako]

Interesting

[@cktan6469]

Maybe CNA should show the latest status for the Mr. FREEGAN guy..think he also financial freedom...

[@GooLid-eh4og]

That guy stays in Landed if i am mot wrong ..

[@synkotic]

My wife needs to learn from this.

[@lenthils]

Not Kyith's fault, but probably CNA could've chosen a more realistic example to feature. You can see all the comments below, almost everybody is saying the same things: no wife, no kids and no parents as liabilities, plus parents left a house behind. It's not reflective of the situation that a lot of SG families are facing, hence all the comments. If Kyith has these responsibilities, then would he still "achieve FIRE at 40"? I don't think so at all. Not even close.

[@tkyap2524]

Never be in debt if avoidable. Invest with what you can afford to lose.

[@TruthCanBeFoundIfYouLookForIt]

Wonder why they never did a segment on kids of millionaires or billionaires?. I'm sure some of them (referring to those who inherited a significant amount of wealth) are living frugally. So...the morale of the story is To Inherit Significant Amount of Wealth (e.g. a 5-Room flat etc) and later claim you did all these by yourself by living frugally and investing wisely? Sure to be a hit, man.😂 The title of the segment can be "I didn't come from wealth. I did it on my own."

[@moot8107]

I don't want to spend my life staring at multiple computer screens and graphs all day

[@rayne5368]

Think he is a stock investor.

[@Syedsai]

Kyith! Well done!

[@ed180779]

Not counted, he doesn't buy his 'own' house la

[@metallitai]

the context of this individual makes his journey to financial independence very questionable.

[@Star1234star]

Should be own effort instead of inheriting e flat?? Live streamer Ryan Low is a better choice to interview, only 30 yr old and richer than this guy

[@TruthCanBeFoundIfYouLookForIt]

Free house? Realistic example? Wow...I'm SOLD, man.

[@jalanjalan7099]

I am ok not to achieve financial freedom YET, but at least i look presentable. No pun intended. Different people, different circumstances. He inherited a flat, some people had to pay off their parents flat on top of their own flats. He has no kids, some have few kids. Anyway, all the best Kyith, u happy can liao, why care about faceless people like me who only kpkb in www?

[@leebengann5117]

Well) can try by 50 like be FIRE

[@jennifer-oc6io]

This guy is unmarried n his house is a pass down property from his parents. He can reach this goal due to those benefits. How can a regular family man with kids n a mortgage meet the same goal at the same age?

[@fireat40]

Possible with intensive financial planning and only 1 kid

[@GooLid-eh4og]

Having a kid is a blessing , and with raising takes you longer to a goal like his . Its a different trajectory . But elements in his video can be applied nonetheless , optimize savings , frugal , can only help

[@zuoaihengaoxing]

Your crown my liege king 👑

[@pandecocojam]

This is a wealthy city thing too. Not just savvy habits but being in a place like Singapore where you can have a high paying job. This is not possible in low income cities where being underpaid is common. Inequality is real. Stop lying.

[@anglebarboza5829]

I'm favoured, $50K every week! I can now give back to the locals in my communitv and also support God's work and the church.God bless America

[@billboyer9524]

How ..? Am a newbie in crypto investment, please can you guide me through on how you made profit?

[@anglebarboza5829]

A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some professional advice.

[@anglebarboza5829]

Thanks to Mrs Deborah Davis.

[@anglebarboza5829]

She's a licensed broker here in the states

[@ralucaapostol4652]

YES!!! That's exactly her name (Deborah Davis) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺

[@MaxT1996]

Seems like he didt have mortgage

[@lkl7045]

Kyith, spend some $$$ to treat your Psoriasis issues not just investment & saving. No points & regret in the future.

[@randomterror7]

Not very sure this is the kind of life most people would want. No offence he is free to choose the lifestyle he wants but it’s quite miserable in my opinion.

[@fireat40]

I rather have a stress free lifestyle knowing my next bills will be paid forever!

[@natalietan5587]

Kyith is NOT a good representation of FIRE, cos he's single. Those married with children definitely have higher expenses and financial commitments. So are we trying to promote the advantages of being single?! Even though some comments stated that Kyith has helped his parents pay the monthly mortage payments at some point of his life, I believe majority of the mortgage, renovation, furniture and equipment have been paid by his parents earlier on. That's a huge financial stress taken away from him. He has simple needs and wants, considering he has only factored in $2,000 a month for early retirement. This is also something not many people can be contended with. In conclusion, the definition of FIRE is very subjective, based on each individual's circumstances and wants. No right or wrong! But personally, I think the media should showcase what's feasible and achievable for the majority of the population.

[@martinbrock713]

Some people work hard they still never succeed

[@fireat40]

Work smart, not hard

[@Koekie5616]

Zen master

[@sorcereh1]

Erm… he is not a successful story…. He has a fully paid house handed to him and not even a partner 😅 and 750k isn’t a lot for 42 yo…..

[@GooLid-eh4og]

IMO being handed a paid house is a success story . No sibling infighting . Parents laid out a path for him . Yes , can challenge that he should do more .. but nothing wrong with inheriting assets .

[@sorcereh1]

@@GooLid-eh4og if we count in inheriting assets then any other Singaporean also easily +700k-1m assuming HDB & only child

[@ellusion1985]

A single man who inherited a 5 rooms HDB flat...is there anything more to say? Geezzzz....of course he can talk big about 80% saving rate...

[@hercrazymatchesmycrazy1372]

2k per month might as well work as a security guard eat wait slp repeat

[@bernardkoh1650]

Shiok! No mortgage stress..

[@user-vx5bu8tr5y]

You can’t retire with a million dollars. It’s not enough. Even if you are a millionaire, you should still work till your last breath.

[@AlanSmith88888]

In singapore, you guys already have government housing which is high quality. Nowhere in the 1st world do you get that.

[@viper88448]

well try servicing a resale hdb of 3 rm with 450k price tag as a single and see if this make sense or not. 🤣

[@mteevie1609]

If I didn't have an outrageous heath insurance premiums I could retired someday.

[@martinbrock713]

People who make comments like if they don’t work hard they won’t make it are idiots who have no empathy for others

[@eugeneteo9664]

& no need to spend on shampoo. those inflation numbers is here to frighten people .if we don"t spend wisely ,how is the economy going to move forward ?

[@superduperherman]

You guys managed to find the worst example of FIRE in Singapore 😂 You should interview me instead, I moved to Bali at 34, living the dream life for 2 years already.

[@MasterLeong888]

who want to interview u, u are nobody hahahaha

[@stickymoney]

@@MasterLeong888 LOL harsh

[@user-ec8uy3qp8m]

To lead an existence this way is seriously sad. But to each his own.

[@Zulhardy]

Hmm, I'm not sure I want to be rich and in poor health.

[@MelvinLow-jf1eq]

Saving is good but too much also not good as cut down on lot of activities. No one knows when u rip. So do learn how to enjoy your life when u alive also. U can't bring money to your death bed

[@KyithNg]

Thanks for this piece of advise!

[@soulquest85]

Living in his parent's house........

[@arissajoan]

Ask him go buy a flat now. Sure can’t boast how much he have. 😅

[@davidwong7283]

i Dont admire him . Sure you can learn a few things from him about money . But i personally prefer my life over his , even though i am super poor compared to him .

[@1case100]

He pretends that money is his slave but actually money is his God. He spends all day thinking about his money not all day his money thinking about him. He has no household comforts, no wife and no children. And spends all his effort saving more and more even after reaching his self set financial goal. What is also glossed over is that he inherited his flat. Frankly if this is what "FIRE" looks like, I would rather have keep working and live better than not work but live this way.

[@Alejandro-cj1ge]

you are very right

[@kentyee4138]

When you able to save some money is great and saving over 1million pa. Then there you may not need do your plan for retaining for better retirement. So is a arithmetic or ratio how long life you want to be. If you just a poor, you can just carry out your daily living. SMiLE 😀

[@martinbrock713]

More fear spreading from anziar as usual

[@jer2911.L]

@martinbrock713 Pot calling the kettle black !!!