Became big fan of The fifth person lately.. you guys are real… not trying to sell some financial advice or whatnot.. I differ on one of the comment.. I rather drink hawker center coffee for $1.40 than Starbucks.. but I love to travel in business class.. it’s not expensive when you plan well in advance and book (6 months or earlier).. ultimately it’s an experience .. its personal opinion and preference.. looking forward to joining alphalab 💪

Hi there i m one of those that seldom travels as i always find it troublesome to pack n unpack stuff , going thru customs etc. But i like to do volunterring . So on weekends i volunteer . No need travel n yet i feel my life is very eniching n satisfying as i m helping the disabled, elderly , poor families etc the community . N yes i save / invest but i also donate a fair bit to the charity organisarions . So i want to say is that travelling is not the only way to enrich your life journey . You can do volunteering too

Thanks for the roundtable of sharing. Always the loyal fan here from the neighbor country, Msia.

"certain experiences are different at different ages" - couldnt agree more with this! Money is just a tool to exchange for value. Just saving up big chunks of money have no meaning if you dont spend it.

For someone who takes home 2k and saves 80%, means he's well taken care of. No student loan, Insurance cover, no bills to pay, no need to give allowance etc etc. How many people out there can do that LOL

Good sharing. Thank you.

Enjoyed your candid chitchat. You touched on some aspects of personal expenses (and tradeoffs) that some of us should take a second consideration in the light of brevity of life.

Really enjoy this episode, especially the conclusion to not put all the focus on savings but also living life as it is.

Great sharing!! Totally agreed!

Hey guys. Love your vids. Currently am turning 20 and I am generating about 6000/month from tuition and my side hustle. Spending 10% of it on dining out and treating my family. Totally agree with your opinion on saving less when you are married. Though it is far off for me, I am planning to get a sizeable portfolio by the time I turn 30. Currently I have about 80k invested and will be able to reach about 140k before uni starts(a year later). I am hoping to achieve 1 mill by 30 so I am able to support my future family. Would love to have some advice on how I should allocate my portfolio. Currently I am 50/50 in sreits and us stocks. Due to my young age I am of the opinion that I should concentrate my army of dollars on riskier US markets but the valuation right now is mindboggling. I am invested in certain companies that have good balance sheets and are more conservatively priced. I aim to retire at 45 with a portfolio of 5 million (about 3 million in todays money assuming 3% inflation rate). With a 6% dividend yield(planning to transfer all of my us stocks to reits/banks before I retire) I will be able to live a comfortable life and enjoy my years. Would love to have you guys opinion on how to get additional income streams and where I should focus my portfolio on.

thanks for sharing

Haha, wait till your kid goes to primary school and you have to pay for all sorts of enrichment activites and tuition fees😂

Hearing this while on my family trip to Seoul 😊

I do agree my dad has been vfrugal up till today when he could afford expensive meals, travel and cars.. prob similar to the example of your aunt.. now that he is 70 years old, all the more he doesnt find any meaning in spending on material stuff.. the true beneficiaries of his frugality are his children and descendants

Big fan of Ramit Sethi . How he advocates living a rich life . Spend extravagantly on things u love and cut down mercilessly on things that don’t . Ask the $30,000 qn and not the $3 latte qn. Indeed no point being a “poor” rich man. Balance is the key . We don’t live forever ,

so funny, i get u sir , the guy on the right , i get u!!! u love starbks so much but u didnt spend on them, u went for coffeeshop!!!! i totally uds it!!!! u made me giggled cos we all been thru that

Great sharing! I would like to get the Fifth Person's opinion on Dave Ramsey's 7 Baby Steps for Wealth. I hope youll read this and talk about it 😊

Life is short, living for the moment is important while we continue to work toward financial independence.

I guess I have a more unique question is do you guys SAVE and INVEST or do you guys just SAVE Only or Invest Only? I wonder how much percentage do yall invest after yall saved as mentioned in the video and also at what point do you decide to put the savings into investment since we know banks can never beat inflations Because I INVEST but I don't necessary SAVE. Pay check come, pay for family, pay credit card bills then remaining I INVEST after which left with probably a few hundred bucks (less than $300) for some scenario where no credit payment is accepted. But of course I have wide variety of INVESTMENT and in event of emergency I can liquid most of them and still make profit off initial capital without loss.

how do u guys factor in gifts? do u guys take the portion out of ur savings? investings? whenever I need to buy a present, i try to be generous but the money hurts

It’s truly NOT expensive to raise children in Singapore. Spend what is needed and what you can afford on your children. Unfortunately, many parents are spending extravagantly on their kids without even giving a slightest thought! Then, in hindsight, they will start complaining that children are TOO EXPENSIVE! Just have to identify and separate their NEEDS and WANTS (and your own too) which will make life easier, the world of difference!

This is such a great video. Very insightful and heartfelt. Victor's sharing was particularly emotional for me. It brought back memories of my childhood. Whilst my parents were considered middle class (teachers in civil service), emotionally I always felt impoverished. We never went out for meals, and neither did we go for holidays. My parents were extremely frugal, to the point where we had a Toyota but we never used it, because my dad would not stop complaining about fuel cost & carpark charges. I vowed to myself to work hard and to escape this kind of life. So I did. But it was a brutal journey, and some part of me is always scarred. I was ultra focused on amassing the Enhanced Retirement Sum (ERS) in CPF, and was ultra focused on saving money. Hence, I hardly travelled in my 20s. Part of me wishes things could have been different, but I am also comforted by the fact that if I one day depart earlier than expected, my spouse and my children will have enough for them to get through the next 20 years without much struggle.

Do you still save once you reach emergency fund? Or put everything to investment? Do you put your emergency savings on Singapore savings bonds?

For me 30% percent goes to insurance (I know it’s too much but well what’s done is done ….) and with the crazy mortgage now, another 30% goes into that. With other expends like household, giving to parents, etc …. Nothing much is left ….

Is SRS and endowment considered as savings？

Saving is a very good habit but don't be obsessive. As you get older remember to spoil yourself sometimes - and always remember the saying "Money not spent is not yours".

fixed minimum expenses, unfixed income

Please cover SATS again given the latest results

Victors early days experience may be why he is now interested in distress stocks 🤣🤣🤣

1. Work overseas. Save all salary. Spend only overseas allowances 2. Spend passive income. Save all salary

I saved abt 74% Married with 1 kid, 1car n 1 helper

Life suddenly becomes even more purposeful when you have kids. Kids don’t require a lot of money. They require a lot of hard work.

80% saving is too much