How Much Savings Will Bring You Inner Peace?

The primary reason people work and invest is to accumulate more wealth and have more savings. After all, we cannot work our whole lives, and we need to plan ahead for unforeseen circumstances or our dreams. Some people dream of traveling the world or buying a big house. $100,000, $500,000 or $1,000,000? What's your goal? How much savings can make you feel calm and confident to face life's crises?

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avatarLylle
07-23
Trading
avatarDiAngel
04-04
I think inner peace is not measured by how much savings you have.Maybe it is due to my stressful job,I wanted to retire 6-7 years ago.Hence,I started my retirement plan at a young age. I set personal goals at various stage of my life.As I used to do regional role,i saved almost 70% of my salary. I didn’t really keep track of my wealth until one day a financial advisor sat down with me.i listed whatever I could think of.But I forgotten about my ESPP.The US stocks I am trying to sell to avoid estate tax in the event,I RIP. I used to be a conservative person and whatever method is available to reduce income tax,I would have a share in it.Endowment plan,SRS,top up my CPF or donations etc. If you have a solid and well organised retirement plan,you do not have to put a price to it.You will b

Tale of Financially inner peace dream buy etf and sell call

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avatarMHh
04-04
The ‘gold’ standard in singapore is at least a million dollars if it is for retirement. For rainy days, the typical advice is at least 3 to 6 months of expense. This of course can vary. For me, I have 2 elderly parents to provide for. So, i would prefer to have 1 full year of salary to provide for myself, my dependents and rainy days for my dependents too. At the same time, i continue to invest and save for retirement. As with most kiasu Singaporeans, it’s about accumulating as much as possible to allow for both quality of life and for crazy rainy days. With the current inflation, 1 million is probably an old target. 1.5-2million is more likely the sum with both inflation and increased life span (yet not wanting to work all life)

How Much Savings Will Bring You Inner Peace?

The primary reason people work and invest is to accumulate more wealth and have more savings. After all, we cannot work our whole lives, and we need to plan ahead for unforeseen circumstances or our dreams. Some people dream of traveling the world or buying a big house.Some say it's $500,000. When you have $500,000 in savings, this can cover most types of necessities, serving as a guarantee for your life.Others say it's $1,000,000. If you deposit $1 million into the Tiger Vault $Tiger Brokers(TIGR)$ and receive an annual interest of around 5%, which is $50,000, it can cover the costs of your holiday travels.So, what's your goal? Or how much savings can make you feel very calm and confident to face life's crises?Leave your comments and also post to
How Much Savings Will Bring You Inner Peace?
avatarkoolgal
04-05

How Much Savings Will Bring Me Inner Peace?

🌟🌟🌟Money to me is only a means to live a wonderful, fulfilling life.  It is not the Be All and End All.   Inner Peace to me means living a life that is filled with lots of love, good health and happiness.   I only need enough money to be able to live life to the fullest, travel and create memories that will last a lifetime.  How much savings is enough?  A million dollars is my target.  I hope to achieve this through investing in dividend stocks, bonds and CPF Life which is Singapore's Government Annuity Scheme.    My favourite dividend stocks are the Singapore Banks - $DBS GROUP HOLDINGS LTD(D05.SI)$  $OVERSEA-CHINE
How Much Savings Will Bring Me Inner Peace?
avatarAlubin
05-03
I would want sufficient savings to earn a passive income of 50k annually, excluding the amount needed to get a dream house which is likely another 1mil.
avatarTiger V
04-20
Having $3 million in savings can provide a significant sense of financial security and confidence to face life's crises for me. This amount can cover emergencies, such as medical expenses, unexpected job loss, or economic downturns, and provide a cushion for retirement planning. It can also give me the freedom to make lifestyle choices without worrying about financial constraints. [Miser]
avatarMHh
04-04
Replying to @MHh: @HelenJanet @Success88 @SR050321 @Fenger1188 @SPOT_ON @DiAngel @Kaixiang @rL @AliceSam come join//@MHh:The ‘gold’ standard in singapore is at least a million dollars if
avatarBarcode
04-04
For myself my goal is around $700,000 for inner peace, to be comfortable and enjoy what I’m able to once I reach retirement. I’ve saved extremely hard and achieved a mortgage free home in a city which is now ranked as the 47th most expensive city in the world to live in. Obviously the amount of savings that brings inner peace varies from person to person based on their financial goals, lifestyle, and circumstances. Some individuals may feel more comfortable with a larger emergency fund or additional savings for specific goals like retirement or major purchases. It's essential to assess your own situation and financial needs to determine the right amount of savings for your peace of mind. @MillionaireTiger
$Tiger Brokers(TIGR)$ definitely the more, the merrier. 1M65 for the current but it will increase eventually..
$Tiger Brokers(TIGR)$   I think given the inflation and everything is so expensive now, am not sure if I can retire when I reach retirement age. ad to how much is good for a stable retirement, maybe perhaps $1 mil and maybe more to have a good one... hmmm... always good to dream... USD1 billion [Grin]  [Grin]  [Grin]  @koolgal @LMSunshine @Aqa @GoodLife99 @Universe宇宙 @Shyon
avatarmothymo
04-07
$Tiger Brokers(TIGR)$  1 million SGD is more than enough for me 😁
I think given the inflation and everything is so expensive now, am not sure if I can retire when I reach retirement age. ad to how much is good for a stable retirement, maybe perhaps $1 mil and maybe more to have a good one... hmmm... always good to dream... USD1 billion [Grin] [Grin] [Grin] @koolgal @LMSunshine @Aqa @GoodLife99 @Universe宇宙 @Shyon @Aqa @
*how much savings can make you feel very calm and confident to face life's crises?* I learnt about the 25x rule of thumb recently. the aim is to save 25x of one's annual living expenses to be financially secure in retirement. For example, if your annual expenses are $50,000, according to the 25x rule, you'd need to save $1.25 million ($50,000 x 25) to comfortably retire.
avatar100plus
04-05
$Tiger Brokers(TIGR)$   Achieving a sense of calm and confidence in facing life's crises varies from person to person. Generally, having a substantial savings cushion, such as $500k, can provide a solid foundation. Beyond that, it's crucial to learn how to effectively manage investments, especially in the stock market, to generate additional cash flow. Ultimately, the amount needed depends on individual goals and aspirations in life.
Based on a yearly expenditure of 60k, and a 4% gain in dividends, $1.5 mil would give me somewhat a better peace of mind. However this is a simple linear thinking as it does not include potential curve balls from life, including dependants, and luxuary travels. So save and invest more fellow Tigers! What about you friends? @daz88888888 @LMSunshine @melson @Bonta @GoodLife99 @SirBahamut [Grin]