richiespqr
New member
Aoa. I don’t know what to do based on my current situation. I have around 1,000 in savings. I’m 22 years old, south Asian and don’t plan to move out anytime soon. I am also studying in uni. I have 2 years left. I’m making minimum wage in Canada working 8 hours per day for 3 days only. In our culture we live with our parents. Anyways, I would decide to move out after I’m married. Which would be by 23 or 24. What to do for my current situation. Let’s say I’m applying FIRE. I want to retire by 30. Just so I have a backup, if I decide to stop working. How to structure this?. Based on my future expenses or no expenses living with my parents.is it wise to do purchases based on short term goals or only long term goals like retirement?. How does that work?. Let’s say I need the money for a short term purchase, there is always a risk it doesn’t work out. Plus I can’t find any options for a halal money market fund on Wealthsimple. Any formula I should apply for fire in my situation?. Or can be applied to any situation?.
Update : I meant like how much should I have saved up by 30?. Assume I’m living with my parents for 10+ years or even longer. I know retiring by 30 would be impossible. But based on my situation, should I have done it based on future expenses?. How?. Can someone give an example?. This is assuming I had enough money to live off my investments.
Update : I meant like how much should I have saved up by 30?. Assume I’m living with my parents for 10+ years or even longer. I know retiring by 30 would be impossible. But based on my situation, should I have done it based on future expenses?. How?. Can someone give an example?. This is assuming I had enough money to live off my investments.