I came across an article in Yahoo!Finance: "The 5 things every Singaporean should have by 35."
The 5 things the author listed are:
1. A time deposit that would be maturing soon. He thinks that people should start by having a reliable investment scheme in their 20s and went on to say that fixed deposits are a good place to look... er...
2. A relevant degree. He thinks that a degree is the norm these days and people should get a degree as soon as possible. He also thinks that a degree is the key to employability. I wonder if diploma holders might disagree and, also, I guess for those who are more entrepreneurial, a degree might not really be a necessity.
3. A job with a health plan. OK, this sounds kind of strange to me. It is as if one of the reasons for working for company ABC must be because it has comprehensive health benefits for employees... I would rather have a comprehensive personal medical insurance policy. After all, what if company ABC were to retrench me?
4. All rollover debts resolved. This means no credit card debts. I think we should not have any credit card debts no matter our age. It is the most expensive debt anyone could have! 24% interest per annum? Of course, there are balance transfer offers aplenty these days but they aren't exactly free either, are they? So, zero rollover debts from the day we get our credit cards, period.
5. At least one form of side income. He says it doesn't matter if it is forex trading, franchise ownership or a money making hobby. This is to provide for retirement and some extra spending money. I would agree to this but I would try to make it so that this side income is passive in nature. The side income should be such that it continues to flow in even if we should be incapacitated in one way or another.
The author probably means well but I cannot help but feel that the article was hastily written although it is obvious to me that the writer has a flair for writing.
I suppose people in different age groups would have different things to say about what we should have by age 35. What would you say are the things we should have by age 35?