Comments on: Can You Be Financial Independent Before 40?

By: Ellesse

Ellesse — Tue, 04 Oct 2011 06:33:12 +0000

@Eki Thks!

@Aria Nah… I’m still FAR from being financially free! Even though my expenses are covered but well, that’s mainly because I’ve got a low cost of living. With the uncertainty of the stock market, I would need a big capital base before anything is considered stable at all. Also, need to work on generating a better return!

By: aria

aria — Fri, 30 Sep 2011 01:24:21 +0000

You get lucky to have found ‘the real freedom’ in your life. Financial freedom or Financial Independence is a dream of many people. Rely on as an employee’s wages will not be able to achieve financial freedom, therefore other measures are needed to make additional income. Out of comfort zone (as every month get a paycheck) to then set up your own business is the right step. Thank you for giving enlightenment, planning and action that you provide is very helpful.

By: Eki

Eki — Mon, 24 Jan 2011 20:18:23 +0000

Your article is truely awesome! I can’t even imagine how you were able to incorporate those ideas to help your fellow country men. It a very good resource that deserve lots of commendation, big up to you.

By: Ellesse

Ellesse — Wed, 12 Jan 2011 08:04:35 +0000

@Jimmy Wow, you’re definitely a step before me! When I was still in the corporate world, I didn’t embrace the brown bag it approach. And you’re absolutely right how much one can save by doing so! $10 a day equals to $200-$250 a month. If you add up the savings over a year and put those into a dividend stock yielding 5% p.a, that can mean some extra residual income! It may seem small to many right now but compounding wise, it can be a huge avalanche effect in the longer term.

And I’m glad you found the free resources useful. Glad to help another fellow countryman out.

By: Jimmy

Jimmy — Tue, 11 Jan 2011 14:53:26 +0000

Thanks Ellesse for your article.

I particularly like some of the practical tips you provided for reducing on expenses. They are all sensible and personal methods you have tried. I have implemented something like this too recently. I no longer eat out for lunch at work. I bring left overs from dinner and have that as my lunch. My mother-in-law cooks tons for dinner. Its such a waste to throw food away. Lunch out can be expensive affairs too. A food court meal in Singapore can easily cost up to 10 dollars ($5 for a meal, $2 for a soft drink, $2 for fruits).
BTW, I have also used some of the resources you have directed me to. They are most helpful and free. Wonderful. Thanks.

By: Ellesse

Ellesse — Mon, 18 Oct 2010 02:53:59 +0000

@Darren Lowering expenses is an important part. Assuming a 3% rate of return, you’ll need $33 worth of capital to generate $1. So literally, saving $1 goes a long way. But that said, it’s also important to look at the income side of things. Work on the knowledge necessary to generate residual income. For example, learning on how to invest in dividend stocks etc.

By: Darren

Darren — Sun, 17 Oct 2010 04:43:51 +0000

Hi Ellesse,

I like how you discussed how financial independence doesn’t have to be postponed until our 60s. We can achieve financial independence much sooner if we set a goal and follow a sound plan to reach it. Minimizing our expenses and eliminating non-essential expenditures is key. Reducing our cost of living is the equivalent of a pay raise.

Thanks for sharing.

By: Ellesse

Ellesse — Sat, 03 Jul 2010 02:26:41 +0000

@Rajiv Thanks for your kind words!

By: Rajiv

Rajiv — Fri, 02 Jul 2010 21:55:46 +0000

This was really awesome!

By: Ellesse

Ellesse — Wed, 24 Feb 2010 02:22:52 +0000

@Wayne Absolutely. I can’t justify enough the importance of faith. It’s so easy to give up on your goals when the going seemed so difficult. Especially when people around you are asking you to just drop whatever you’re doing and stick with the crowd. At the end of the day, if your desire’s so burning and your vision is so vivid, keeping the faith together, what seems impossible WILL definitely become possible.

All the best in your own journey and do keep me posted on your progress!