Sunday brunch.

It has been a while since I got to wake up late at 9am on a Sunday. So, no breakfast for me!

I had brunch instead today:

Porridge.

 +

 

Anchovies and peanuts.

 =

 

One of my favourite combinations. Bon appetit.

A fresh grad and $100K by 30. (A fast track to wealth building!)

I have been spending more time on Facebook lately. It requires less work than blogging and with real time people to people interaction, it is somewhat addictive. 

For someone who does not go out much to meet people, Facebook is appealing to me. I think I have discovered another time guzzler.






Well, this morning, my Facebook wall (Is that what it is called?) was abuzz with comments on an article in papers. 

It is an article on how it is possible for a fresh graduate to have more than $100k in net worth by age 30.

See the chart:

Click on chart to enlarge.

Anyway, judging by the amount of activity this article has generated in Facebook, this is an interesting topic for many people. 

It is about money and how to make big money from money. $100k is no loose change. So, I am not surprised.






There is a fair bit of scepticism as to how it is possible to do something like this. Well, read the 
assumptions. 

If the stars align the way they should, then, wonderful things would happen.

In Economics, when we say "ceteris paribus" which means "everything else remaining equal", it shows how changing a variable will affect results. So, for certain arguments to hold water, certain assumptions must be made.

So, how useful then is such an article? Is the article realistic?

Personally, I have suffered scepticism at the hands of others in my almost 4 years of blogging about personal finance and investment as well. So, I am not surprised by some of the reactions to the article.

What I want to say is that it is doable but it might not be easy. All of us have different circumstances and it is harder for some than others to save (and not for want of trying). Some might be luckier than others. 

Yes, we have to be honest here. Luck plays a part.






I will look at the article as something to inspire young working adults on what is possibly achievable if we are willing to give it a go and not cling on to every word (and number) in the article in an attempt to ridicule or discredit. 

Be inspired and I have no doubt that we will all become richer for it.

Source:

Is it possible to have $100k by 30?

The Straits Times.

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