SINGAPORE: A Remarkable Financial Journey

In a remarkable story that’s capturing everyone's attention, a couple in their late 20s and early 30s, who are proud new parents to a 4-month-old baby, recently shared their financial journey on an online forum. They revealed how they achieved the impressive milestone of S$100,000, all without adhering to a strict monthly budget!

Sharing Their Achievement

In their engaging post from October 29, they opened up about their financial situation, detailing their household income and annual expenses, which adds a relatable layer to their achievement. “Hi all, happy to share that I’ve recently achieved the S$100K milestone with my significant other,” they expressed, hoping their experience could inspire others.

Household Income and Savings Breakdown

The couple reported a household income positioned at approximately the 60th percentile, totaling around S$9,300 in take-home pay each month, excluding bonuses. They broke down their S$100,000 achievement: S$34,000 currently in savings accounts and S$66,000 invested through Syfe, with S$1,000 in individual stocks (like RBLX) and the remaining in their Core Equity100 fund. Interestingly, they noted that their annual expenses hover around S$70,000 all-in.

Investment Strategies

One of the partners credited their success to a consistent investment strategy, stating, “We have been dollar-cost averaging approximately S$2,000 per month into Syfe since 2021 and plan to increase this as our income grows.”

The Power of Partnership

The couple emphasized the strength of their partnership in achieving financial goals, highlighting a shared financial philosophy. “We don’t indulge too much, always spend within our means, and have a similar risk appetite,” they shared. Remarkably, they assert that even without a rigid monthly budget, they manage to keep track of their expenses adequately.

Community Support and Response

The post sparked a wave of positivity, with many fellow forum users congratulating the couple and offering words of encouragement. “Congrats to you! I'm working with my partner too toward our first $100K, and even without kids now, our expenses are already higher than yours,” one commenter admitted, showcasing the common struggle many face.

Shared Financial Goals

Others highlighted the importance of shared financial goals and partnership, with one commenter stating, “What’s more important is that you both are aligned and pushing towards similar financial objectives. Don’t let the naysayers deter you; keep on your path if it’s working!”

Expert Opinions

Experts agree that shared financial understanding is crucial for couples, as highlighted by financial websites like Investopedia. Open communication regarding spending habits, budgeting methods, and financial strategies builds trust and strengthens the relationship.

Conclusion

This inspiring tale of financial collaboration proves that with the right mindset and mutual support, even young families can achieve impressive financial milestones. So, the question remains: Could your relationship withstand the financial challenges ahead? The journey could lead you to your S$100K milestone!