Q & A › Category: Others › Is it too late to save ?
0 Vote Up Vote Down
Darwin asked 6 years ago

Hi there. I’ve been following the blog for the past few months, and I can say it has really given me the drive and goal to save up and raise funds before 30. All my life since I was a kid, I never had the opportunity to save money as money saved often goes to the family as we’re not financially stable. I’m 22 right now,I just graduated fortunately couple of months back and got a job offer that I enjoy alot. I’ve currently saved up to RM5000 (only savings that I have), with about RM4000 in EPF. I’ve always worried that if I started saving late, it’s gonna be a problem for me in the future. It bothers me from time to time. My question is, am I in the right path financially speaking, considering my age ?

Question Tags:
1 Answers
0 Vote Up Vote Down
KCLau Staff answered 6 years ago

In the early years, we all have almost nothing in the banks.
You are only 22, so there is a long way that you can still make good progress.
Aim to have a healthy saving rate >30%.
And work to double your income every 3-5 years.