Advice to my son If possible, save and invest half your age % i.e say 24 years of age, then aim to save and invest 12% of the monthly salary E.g 20000$x12%=2400$. Then save 1200 per month and 1200 in a good index fund / etf due to lower management cost. Key points to REMEMBER 1)Set a monthly standing order before spending 2) Long term investment by using dollar averaging strategy. Not touching the pot and let it grow Hopefully, there will be a pot of emergency cash saving and a pot for long term investment I understand it is not easy to do , however save whatever you can and start early As Warren Buffett says Because nobody wants to get rich slow Very true indeed
@nobird8888
Жыл бұрын
Wow~~ Thanks Edy. Great advice!!! 12% is a very low target already. It should be ok! Your son is lucky that his parents could teach him correct financial knowledge~😘
@edy2212
Жыл бұрын
Yes,12% is a low target to start with. Since my son has to pay monthly rent living in another town plus other expenses, 12% is a realistic target. Ideally, increase the % with each pay rise. Lump sum the investment if there is a bonus. Reinvest any dividends and let the snowball roll 😅
@nobird8888
Жыл бұрын
Very nice~! Hope our visitors could see your post~! Thanks for your advice! 😘😘
@amberchu2956
Жыл бұрын
wish I could have started to save when I was young🤢
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