3. Save to invest, don't save to save. The only reason
to save money is to invest it. Put your saved money into secured,
sacred (untouchable) accounts. Never use these accounts for anything,
not even an emergency. This will force you to continue to follow step
one (increase income). To this day, at least twice a year, I am broke
because I always invest my surpluses into ventures I cannot access.
Exactly, why we need 4 bank accounts! One bank account dedicated to our investment needs.
You don't spend any money from this account until the day you have retired from your day job and NEED to depend on passive income.
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.