• fabianlau

How Much Is Enough?

Updated: Apr 8, 2020


“Fab, can you tell me, how much should I save?”

"How much does your other clients usually save?"


I get this question a lot from the meetings I have with my clients and even friends. Truth to be told, I don't have the magic number. Everyone is different. That’s what makes us unique individuals.

Everyone earns a different salaries, have different household commitments,

different life goals, live a different lifestyles, and interestingly, our family background also plays a part in shaping our perspective of money management since we were young.

That makes us all very different when it comes to handling our resources.

Imagine if the savings "standard" is $1,000 per month. Someone who earns $1,800 a month trying to save that $1,000 will have a struggle just because everybody saves that much. Or the newly engaged couple trying to set aside $2,000 a month for retirement while juggling the expenses of their upcoming wedding, their new apartment, renovation, furniture, etc. No, that may not work for you. You may also come across some product pusher who tells you to save $XXXX amount every month because that is apparently the minimum to buy that plan.

Never buy into their BS!

(belief system).

We always search for a benchmark, a standard, something to measure up to. Why don’t we start setting standards for ourselves based on ourselves instead of constantly looking at what others are doing. Before speaking to a financial consultant on your cashflow statement and planning, do a little homework to understand your lifestyle and money management first. I guess you know yourself best.

"Start setting standards for ourselves based on ourselves instead of

constantly looking at what others are doing."

Well then again, knowing it and really taking action requires self discipline because no one can force you to put money aside. You gonna own it. Take ownership in your finances, know that's really important for you to save.

Make a decision how much to save today/ this week/ this month.



#wealth #wealthdestined #financialplanning #insurance #savings #endowment #advisory

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