I graduated in 2010 and was one of the fortunate souls who got a full time job out of school (Yay healthcare industry). Back then, the salary for graduate Nurses were really measly compared to my peers in government sector jobs. Despite the Low after tax salary and being at the age of being capricious, I was already saving a small portion of my salary each month.
I hustled as a private nurse on my off days while keeping my day job at the government hospital. I was working every.single.day. There was once I worked straight for 2 weeks and I nearly crashed.
Despite the crazy work schedule, I was able to maintain a good rating at work, have almost no MC (sick leaves) and still do extra work like research. I got promoted on schedule.
I opened by first trading account with Philip securities in 2014 at age 26. My first stock was CapMall Asia ($1.38/stock) which got privatised at a 61% capital gain! This really spurred my confidence as a greenhorn investor. I went on to buy STI ETF and KeppelCorp shares.
That same year, thanks to the success of the first stock, I submitted by W8-Ben and bought my US stock – VISA.inc
The side hustlin and savings allowed me to amass 30k emergency savings at 26.
Just so you know. I started with $0 on graduation. Blew it all on grad trips lol!
Fast forward to 2018. It has been a hell of a financial journey. Been through a few crazy market swings — seen my portfolio go -30k into the red thanks to the oil crash.
That was a long winded history and the market isn’t doing that well now either. Previous market crashes has made me into an unfeeling bastard. My portfolio is now -7k and I am unfazed.
A few days left till I am officially 30. This is my financial report card:
Disclaimer: This is not a post intended to boast. The take home message should be: don’t need to start rich, work your ass off, save like mad, invest! – says every other personal finance blog.
Emergency cash: 38k
Stock holdings (not counting paper losses): 232k
Total: 270k (170% from goal of 100k)
I have outdone my initial goal by 170%. I am proud of myself.
These days, I have been moonlighting less. This could be because I can feel the ageing in my bones. HORRORS. It could also be that I feel more financially secure and decided to let go more.
I am working on other goals like attaining my personal career achievement: getting a Masters degree!
The methods I employed to achieving my financial goals weren’t rocket science. Each of these methods were really principles EVERY PF blogs live by.
I was, and am still striving to spend within $500 per month, despite salary increases.
I have been Saving 80% of my bonuses and salary.
You could say that what I have achieved was because I didn’t have other heavyweight commitments like wedding costs and housing mortgage. However, I was the sole breadwinner for my family – utility bills, paying for the car and giving my dad an allowance.
With the same amount of dedication and focus, you can do it too.
Set a financial goal for yourself and pen down the actions (like really a pen and paper in point form, it WORKS) to work towards it.
It is not easy. But it sure as hell is possible.