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Financial freedom for average Singaporeans?

Friday, September 1, 2017

From time to time, I get emails from readers who wonder if average Singaporeans could ever become financially free. 

Of course, I will remind them that AK was once upon a time a pretty average Singaporean too.

If we are from a humble background and if we have a humble lifestyle, I believe that these are strengths and not weaknesses.

I remember when I was a teenager about to join the armed forces, some wondered if I was going to make it because there were stuff I didn't like eating. 

Then, when they remembered that the stuff which I didn't like to eat were crabs, prawns, abalone, lobsters and a whole list of atas (i.e. Malay for high class) foodstuff, they knew I was going to be OK. 

I didn't have atas taste buds.

When I shared my liking for green tea, I was asked to try roasted green tea, Hojicha. Today, I was given some Hojicha as a gift when I met a friend for lunch and later visited a supermarket. 

Drinking Hojicha will transport me to a higher plane of existence (figuratively, of course), apparently. Zen? I like.

Well, I tried it just now and it tastes like Chinese tea to me but it costs a whole lot more. 

$7 or so for a box of 20 tea bags.

I think I will stick to my cheap cheap Japanese green tea. $5 or so for 50 tea bags.

Atas food and drink are wasted on AK. Seriously. The fault is mine and not the food and drinks'.

What is this leading to?

Some might not agree with me but I am just sharing my own experience here.

If we don't have expensive tastes, it is easier to achieve financial freedom, all else remaining equal.

There is no doubt in my mind ever that average Singaporeans can be financially free too. 

If you are not financially free yet, you should not doubt that you can one day be financially free too.

It just depends on what you do.

Related post:
Average income workers can be rich.


Kevin said...

Hi AK,

In summary, live below one's means and not within or above to enhance one's path towards financial freedom? ;)

AK71 said...

Hi Kevin,

Live way below our means and not just below our means to speed up the journey.

I anyhow say one lah. ;p

DL said...

Green tea 50s for $5? OK I see you got it from NTUC. Do you join the NTUC membership to get the annual rebate?

AK71 said...

Hi DL,

Oh, yes, NTUC Fairprice, of course.

$5.95 for 50 tea bags.

Yes, I have been a NTUC Fairprice shareholder since I was 25. ;p

WTK said...

Hi AK,

It is possible for an average person (with simple lifestyle) to achieve financial freedom. It is entirely to individual's preference.


WTK said...
This comment has been removed by the author.
AK71 said...

Hi Ben,

Of course, it is hard for me to imagine why anyone would prefer to be a wage slave than to be financially free. -.-"

DL said...

Because the older generations of parents taught their children to study hard and get a high pay job. If want more money, do sales or start your own business. "Financial freedom" was not something that cultivated into them since young.

AK71 said...

Hi DL,

There are so many things I had to unlearn including stuff about nutrition.

AK is lazy but AK must do this. :(

DL said...

Hi AK, is the NTUC General Branch membership a worthy "investment"? How much do we need to spend at Fairprice in order to get the rebate of at least $117 (annual membership)?

Do you able to get back at least $117 since you only spend it necessarily?

AK71 said...

Hi DL,

I think you are referring to a Union membership. I am not a Union member. I am a NTUC Fairprice shareholder. Shareholders don't pay any annual fee. ;p

AK71 said...

Also see:
Supporting my companies and getting paid.

Henry said...

Hi AK, is $1 mil enough to retire in SG if my expense is $3K per month?

AK71 said...

Hi Henry,

It would depend on at what age do you want to retire and how old are you now?
An average HDB household and $1 million.

AK71 said...

You might also want to read this:
To retire, start with a plan.

DL said...

Hi AK, I read that we need to be a General Branch union member, then we can buy 20 shares of Fairprice to be a shareholder?

AK71 said...

Hi DL,

I didn't have to but, of course, things could have changed since I became a shareholder. :)

DL said...

I read your other blog that you are an Income shareholder. Is it the same as Fairprice shareholder?

AK71 said...

Hi DL,

NTUC Fairprice and NTUC INCOME are two different co-operatives.

I own shares in both. :)

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