Should I buy into a 1 x lot of Ascott REIT at the current price of $1.00?
It has a DPU that is around 9%. This would help me roughly hit my desired passive income of $200 per month for this year.
Or are there better options around. Thinking of diversifying as I do not want to be too heavily invested in only 2 different REITs
Searching for that additional S$10 per month
Dear Reader,
I am looking for that additional S$10 per month passive income to hit my $200 per month goal for year 2008.
With current liquid cash of slightly over $20000, that leaves me with a roughly $1500 to $2000 (after setting aside 6 months of emergency funds) to invest to get that additional S$10 per month.
Any advice?
I am looking for that additional S$10 per month passive income to hit my $200 per month goal for year 2008.
With current liquid cash of slightly over $20000, that leaves me with a roughly $1500 to $2000 (after setting aside 6 months of emergency funds) to invest to get that additional S$10 per month.
Any advice?
Current Sources of Passive Income
These are the sources of my current passive income:
1. 11,000 x Ascott REITs (DPU = 4.52 per half) = $82.87 per month
2. 15,000 x First REITs (DPU = 1.91 per qtr) = $95.50 per month
3. Maybank iSavvy Deposit = $12 per month
Total passive income per month = $190.37
It is quite amazing. I am nearly on target to achieving my $200 per month passive income for this year. $200 per month passive income however is only 4 percent of my current earned income.
My goal for the remaining months in 2008 will be to look for buying opportunities to enter into REITs or stocks with regular dividend payouts.
An additional goal would be to explore the use of Google's Adsense as an additional source of passive income.
1. 11,000 x Ascott REITs (DPU = 4.52 per half) = $82.87 per month
2. 15,000 x First REITs (DPU = 1.91 per qtr) = $95.50 per month
3. Maybank iSavvy Deposit = $12 per month
Total passive income per month = $190.37
It is quite amazing. I am nearly on target to achieving my $200 per month passive income for this year. $200 per month passive income however is only 4 percent of my current earned income.
My goal for the remaining months in 2008 will be to look for buying opportunities to enter into REITs or stocks with regular dividend payouts.
An additional goal would be to explore the use of Google's Adsense as an additional source of passive income.
Current Monthly Expenditure
This is a rough gauge of my current monthly expenditure. I will be including the housing installments even though they are paid by CPF as I hope that my passive income will be able to pay off the housing installments (if any) at the age of 40.
My current monthly expenditure in (S$)
1. Housing installments = 1096.00 (wife is sharing the burden)
2. Car Monthly Installment = 518.00
3. AIA Investment Link Plan = 350.00
4. Asia Life Policy = 154.20
5. Aviva Insurance = 51.72
6. Conservancy Fees = 49.00
7. Telephone & Internet = 33.96
8. Cable TV= 25.68
9. Mobile Phone Bills= 30.89
10. Electric, Water, Gas= 100.00 (estimated)
11. Car Insurance = 110.00
12. Parking= 150.00
13. Road Tax= 60.00
14. Petrol= 300.00
15. Food= 300.00
16. Tithes, Parents = 600.00
Total = $3929.45 !!!!!!!!!!!!!!!!!
How on earth did my family accumulate so much monthly expenditure? And this is being optimistic.. there are months in which I spend much more on food, entertainement, miscellaneous stuff, etc....
Okay, maybe its because I included the housing installment which is actually covered by CPF now.
How can I decrease my monthly expenditure to S$2800 and below?
My current monthly expenditure in (S$)
1. Housing installments = 1096.00 (wife is sharing the burden)
2. Car Monthly Installment = 518.00
3. AIA Investment Link Plan = 350.00
4. Asia Life Policy = 154.20
5. Aviva Insurance = 51.72
6. Conservancy Fees = 49.00
7. Telephone & Internet = 33.96
8. Cable TV= 25.68
9. Mobile Phone Bills= 30.89
10. Electric, Water, Gas= 100.00 (estimated)
11. Car Insurance = 110.00
12. Parking= 150.00
13. Road Tax= 60.00
14. Petrol= 300.00
15. Food= 300.00
16. Tithes, Parents = 600.00
Total = $3929.45 !!!!!!!!!!!!!!!!!
How on earth did my family accumulate so much monthly expenditure? And this is being optimistic.. there are months in which I spend much more on food, entertainement, miscellaneous stuff, etc....
Okay, maybe its because I included the housing installment which is actually covered by CPF now.
How can I decrease my monthly expenditure to S$2800 and below?
Sources of Passive Income
The following are sources of passive income that I have identified as being suited for my current situation:1. Dividend paying stocks
2. Distribution from real estate investment trusts (REITS)
3. Fixed Deposit interests
4. Revenue from Adsense
Financial Freedom (Goal 2022)
My definition of financial freedom would be to simply have sufficient passive income (income that I do not need to work for) that would cover my monthly expenditure by the age of 40.
Simply put :
Financial freedom = Passive Income > Monthly Expenditure
That is a total of 14 years to achieve it. Hopefully I will achieve it by the 31 Dec 2022.
The purpose of achieving financial freedom is to give me the flexibility to pursue things that I enjoy doing and value in life. The goal of achieving financial freedom is just one of my many goals in life.
I intend to achieve this through the following steps:
1. Increase my monthly passive income to S$200 by end 2008. (S$2800 per month by 2022)
2. Reduce my monthly expenditure to below S$2800
3. Pay off all debts (HDB 4 room flat, car) or attain a debt level that combined with my monthly expenditure would not exceed S$2800
This blog serves as a journal to chronicle my journey and I hope that you would learn as much from it (be it from my failures or successes) as I would from the entire process.
Simply put :
Financial freedom = Passive Income > Monthly Expenditure
That is a total of 14 years to achieve it. Hopefully I will achieve it by the 31 Dec 2022.
The purpose of achieving financial freedom is to give me the flexibility to pursue things that I enjoy doing and value in life. The goal of achieving financial freedom is just one of my many goals in life.
I intend to achieve this through the following steps:
1. Increase my monthly passive income to S$200 by end 2008. (S$2800 per month by 2022)
2. Reduce my monthly expenditure to below S$2800
3. Pay off all debts (HDB 4 room flat, car) or attain a debt level that combined with my monthly expenditure would not exceed S$2800
This blog serves as a journal to chronicle my journey and I hope that you would learn as much from it (be it from my failures or successes) as I would from the entire process.
Financial Knowledge
I believe that to achieve financial freedom, one must strive to gain financial knowledge.
Nowadays, one can simply gain financial knowledge by searching the internet and looking online for ways to invest, save money, etc.
I am compiling a list of financial websites/resources specific for the Singapore audience.
Banks
Citibank
DBS
HSBC
UOB
OCBC
RBS
POSB
Standard Chartered
Maybank
ABN Amro
finatiq.com
Unit Trusts
Fundsupermart
finatiq
Stock Brokers/Trading Platforms
POEMS
UOBKayHian
DBSVickers
The author currently has a POSB account, Maybank account, defunct OCBC account, Citibank account, Fundsupermart account and a UOB Kayhian account
Nowadays, one can simply gain financial knowledge by searching the internet and looking online for ways to invest, save money, etc.
I am compiling a list of financial websites/resources specific for the Singapore audience.
Banks
Citibank
DBS
HSBC
UOB
OCBC
RBS
POSB
Standard Chartered
Maybank
ABN Amro
finatiq.com
Unit Trusts
Fundsupermart
finatiq
Stock Brokers/Trading Platforms
POEMS
UOBKayHian
DBSVickers
The author currently has a POSB account, Maybank account, defunct OCBC account, Citibank account, Fundsupermart account and a UOB Kayhian account
Subscribe to:
Posts (Atom)
-
Civil servants or public officers in Singapore are expected to declare their financial standing when they first join and every year thereaft...
-
Trying to compile the salary pay scale for the Singapore civil service. Somehow, I only managed to find the figures for 2011. There are p...
-
In my previous article , I compared an endowment plan with an ILP. Many might think that an ILP is a silly way to save for my child's ed...
-
Everybody loves free stuff. So as part of the Christmas Celebrations, I am giving away MONEY! ANYONE can earn it. Just leave a comment on th...
-
How much does a normal or average Singaporean earn? Based on median income, that is supposed to be $2,400 per month and raised to over $300...
-
Networth as of Feb 2010 is estimated around $652,000. A slight drop from Jan 2010. The decline in networth was due to a slight drop in my ... -
“We are more than that; we are in the business of creating time.” - Tay Liam Wee Mr Tay Liam Wee has an estimated networth of around S$135m.... -
Here are some frequently asked questions about sgfinancialfreedom: Q: How do you compute your networth? A: I compute my networth by adding m...
-
As most of you know by now, I have started a POSB Kids Savings account for my child. The main purpose of this account is to save for his un...
-
I can't sleep. I am worried about my finances. So I am up now counting my money in all the places that I have. Sometimes I forget that...
