Perhaps you’ve read Saving $100K by 30 Years Old… Is It Even Possible?
A lengthy read but worthy to know that it’s possible.
But here are my thoughts:
In all honesty, one would probably save like this when he plans to get married. Bootstrap to save 50% of take-home income.
And most of that savings will be gone on the wedding expenses.
Question is, will you be bootstrapping in your marriage life? Responsibilities and new commitments will set in.
It’d be better to be more realistic with your income level and percentage to save and manage your expectations (ie. you don’t really need to spend $50k on your wedding, do you?)
It’s different if you’re earning $4k or more; you can afford a decent lifestyle while having more to save. Yes, “the world isn’t fair”.
As the Malay saying goes, “Ukur baju di badan sendiri” (Tailor your shirt to your own body.)
The day you start working, I’d recommend that you:
- Budget your expenses and manage your cashflow
- Have basic, adequate insurance coverage
- Set aside regular savings and investments:
You can still work towards a financial goal at 30 while still being realistic and enjoying life.