A few days ago, I met up with some university friends for a steamboat dinner at HDL. It was a rare gathering, as life had taken us in different directions since the Covid-19 pandemic—many of us got married, had children, or found new social circles. Before the pandemic, we met regularly, from seeing each other daily in school to monthly catch-ups after graduation. However, as responsibilities grew, our meetups became less frequent, making this dinner a special occasion.
During our gathering, we naturally caught up on each other's lives. To my surprise, some of my peers were facing difficulties despite holding NTU degrees. A few lost their jobs during the pandemic and struggled to recover, while others turned to gig work due to limited opportunities. Listening to their stories, I realized how fortunate I had been. Instead of commenting much, I simply listened, acknowledging the unpredictable nature of life.
On my way home, I reflected on my own journey. My first job paid well, but after four years, I left due to the stress. The years that followed weren’t exactly smooth sailing, but joining a tech company in 2022 became a turning point. Though my salary now only matches my last drawn pay from my first job, I am financially fine. This made me wonder—what did I do differently from my peers?
I realized that my financial habits had played a crucial role. I had been interested in investing since university, albeit unsuccessfully at first. My early investments were blind bets that resulted in losses, but they were small since I didn’t have much to begin with. What truly made a difference was my disciplined saving habit. During my first job, I set aside all my annual bonus, building a strong financial foundation. I saw my peers buying cars, which made me envious at the time, but today, I feel I made the right decision.
It wasn’t until I delved deeper into the F.I.R.E. (Financial Independence, Retire Early) movement that my investing approach improved. By the time I had a $100K capital, my investments became significantly more impactful. My savings strategy allowed me to accumulate a net worth of $130K by age 32 and $180K by 34. If not for joint finances with my wife, my personal assets could have been even higher, possibly in the $200K-$300K range. Our joint account, however, has been significantly depleted due to wedding expenses, home renovations, and setting up endowment plans for our child.
Despite this progress, another thought weighed on my mind—retirement. Am I doing enough to secure my financial future? While my habits have served me well so far, the road ahead remains uncertain. This realization has sparked a new phase of planning to ensure my family’s financial security.
Life takes unexpected turns, and while we can't predict everything, financial preparedness can make a world of difference. Looking back, small decisions—like saving bonuses and learning from failed investments—set me apart from my struggling peers. Moving forward, I remain committed to making smart financial choices, not just for the present but for the years to come.
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