I was discussing over Whatsapp with someone on which part of the world have I been to? When I gather some thoughts about it , I realise that I have been to all continents in the world. Places like America, Canada , Switzerland , Japan and etc are already checked in my list.
Next few countries inside my list were Peru , Argentina or maybe Nigeria. Time to experience places less travelled .
As a financial planner, money is of course a concern whenever I travel. For example , are you aware that a trip to America can easily cost you SGD $10k per person ? Therefore , a normal year with a few trips around asia and out of asia can cost me and my family easily a $30k per year cost. So the question is , how can I travel for FREE ?
This has been a question I had when i in my early 20s and I crack my head on how to make my travel free since then. So these are what I do
I focus on building at least a SGD$100k to SGD$500k in cash . Thereafter , I start to source out dividend stocks or income generating product at minimum 4% per annum.
I use investment product to build my lump sum using regular premium strategy.
I am proud to say that I have been using my lump sum to generate additional income to pay for my expenses and travel cost so that I can travel freely and travel happily.
Andrew Ang
Financial planner since 2004
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