A 22-year-old Malaysian man recently sparked an online debate when he asked whether it was possible to save RM1 million by the age of 30.
Sharing his ambitious goal anonymously, he inquired about the income level and expenses needed to achieve it, as well as tips to stay on track.
“I’m 22 and aiming for RM1 million by 30. Can anyone share insights on the ideal income, expenses, and strategies to achieve this?”
His question quickly went viral, catching the attention of stock trader Ammar Faris, who responded that while challenging, the goal was achievable with the right approach.
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“Exceptional income growth (RM15,000 and by 28), saving 40% to 50% of his income, good investment strategy, delay gratification, and he would probably need income from a side business.
“It’s tough, but not impossible.”
He explained that the man has to make income growth his priority and that one would need to be earning a minimum of RM15,000 by his late 20s.
“No point dreaming about RM1 million if your income is only RM3,000 and not increasing. You need to be earning at least RM15,000 by your late 20s. Tech, sales, finance, or your own business – these are your best bets.”
However, Ammar also cautioned against sacrificing mental health and relationships in pursuit of wealth. He assured the youth that hitting RM1 million slightly later is perfectly fine.
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“Don’t sacrifice your mental health and relationships for money. RM1 million by 32 or 33 is okay. Even by 35, it’s still an incredible achievement. Life is not a race.
“And remember: The first RM1 million is the hardest. After that, money makes money much faster.”
