One of the most impactful ideas I have heard came from Christopher Tan of Providend. He said that if you reduce a retirement plan to the irreducible minimum, you must have three things.
- You must have a lifelong stream of income.
- You must have a fully paid house.
- You must have medical expense insurance.
That was back in 2017, a time when resources were scarce and tools were limited.
Not anymore.
We live in strange and exciting times now. What used to be vague dreams and random scribbles on a napkin can now be transformed into reality in hours, if not minutes.
The younger generations might not understand the references made in the demo video above, but if you belong to the older Gen-Y demographic like me, you’ll instantly recognise a major influence during my childhood, in an era when much of what we take for granted today didn’t exist.
These days, whatever I want or need, I simply build it myself if a ready-made tool doesn’t exist. That’s simultaneously empowering and yet scary at the same time.
Kevin started Turtle Investor after hitting rock bottom at negative $25,755 net worth. Today, his monthly alternative income pays for all his daily expenses. He shares what actually works (and what doesn’t) for Singaporeans building wealth. Learn more about Kevin here.
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