Added 50 shares of PWE. Also bought 500 shares of Citicorp @2.92
My updated portfolio for passive income for 11 Apr 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 100 x PenWest Energy Trust = $22.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $270.05 (Mar 09)
Taking one step at a time towards my financial freedom.
Leaving Assets For Future Generations
I got into a talk with one of these financial planners lately. The topic we talked about was basically insurance and how one could virtually give one's child/children a good inheritance.
The idea might sound warp but it is worth thinking about. Basically, it involves you just buying a whole life insurance and not drawing that money out/surrendering the policy/or letting it lapse.
As death is certain, you can be assured that your beneficiaries will receive whatever amount is the sum assured on your life as well as any accumulated bonuses. So perhaps for a total price of $100,000 over say a period of 25 years ($4000 per year), you are able to pass over quite a sizeable fortune (maybe $0.5 million) to your child/children when you die. That is of course if you do not surrender the policy or anything before your appointed time with the Maker.
Just food for thought =)
By the way, I added another 200k insurance which brings my total insurance to $560k life coverage.
Have updated my adsense earnings for the month of March here.
The idea might sound warp but it is worth thinking about. Basically, it involves you just buying a whole life insurance and not drawing that money out/surrendering the policy/or letting it lapse.
As death is certain, you can be assured that your beneficiaries will receive whatever amount is the sum assured on your life as well as any accumulated bonuses. So perhaps for a total price of $100,000 over say a period of 25 years ($4000 per year), you are able to pass over quite a sizeable fortune (maybe $0.5 million) to your child/children when you die. That is of course if you do not surrender the policy or anything before your appointed time with the Maker.
Just food for thought =)
By the way, I added another 200k insurance which brings my total insurance to $560k life coverage.
Have updated my adsense earnings for the month of March here.
3 Sources of Passive Income
Been seeing a lot of advertisements on the newspapers recently advertising how some people are willing to teach you how to make passive income by either joining their seminars and stuff. Well, I will just share mine openly since I believe that knowledge ought to be free for all.
In this post, I will be revealing the 3 sources of passive income that I hope to achieve by the end of this year. For this year, my goal is to achieve a passive income of $400 per month or $4800 per annum. I am looking to 3 areas/ sources to grow my passive income.
Source #1 - Dividends and Distributions from Stocks/REITs
This is currently my main source of passive income. I hope to achieve a minimum of $300 per month or $3600 per annum of passive income from dividends and distributions that I receive from both Singapore and US listed stocks.
Source #2 - Paid Advertisements on Blogs
I am currently relying on Google's Adsense to make some coffee money. It is peanuts really. Hope to achieve a stable $20 per month by the end of this year.
Source #3 - Writing Options
I have opened an OptionsXpress account. Basically, I hope to sell naked puts on fundamentally good stocks. Should the puts be exercised, I won't mind buying the stocks. If not, I will just be happy to make money from these puts. I hope to make this source of passive income operational by May 09.
There you go! My 3 sources of passive income. Feel free to comment or share your sources of passive income with me!
Read Related Articles:
1. My Flat is Worth Half A Million?
2. Passive Income Update for October 2009
No Income Tax to Pay but must pay for Carpark
No Income Tax to Pay
Just finished filing my family's income tax.
After accounting for all the tax reliefs, rebates and stuff, my family has $0 in taxes to pay for the year! Perhaps its also because we don't earn that much in the first place.
Carparking
The only downside to the start of April 09 was the need to renew my carparking.
I renewed it for 3 months at a price of $270. Very expensive. That is equivalent to $3 a day!
Perhaps it is time to get a landed property so that I do not need to pay for parking.
Stock Purchases
Added 6,000 shares of Hongguo @0.125
Hope the bull market does not return too soon so that I can collect more stocks/REITs on the cheap.
P.S : To the team at SG Dividends, I have included a link to your site.
Cheers,
Financial Freedom
Just finished filing my family's income tax.
After accounting for all the tax reliefs, rebates and stuff, my family has $0 in taxes to pay for the year! Perhaps its also because we don't earn that much in the first place.
Carparking
The only downside to the start of April 09 was the need to renew my carparking.
I renewed it for 3 months at a price of $270. Very expensive. That is equivalent to $3 a day!
Perhaps it is time to get a landed property so that I do not need to pay for parking.
Stock Purchases
Added 6,000 shares of Hongguo @0.125
Hope the bull market does not return too soon so that I can collect more stocks/REITs on the cheap.
P.S : To the team at SG Dividends, I have included a link to your site.
Cheers,
Financial Freedom
Added Pengrowth Energy Trust
Updating my passive income portfolio.
PenWest Energy Trust had a dividend cut to US$0.15 per unit. Also added Pengrowth Energy Trust into my portfolio. It gives US$0.10 per unit.
My updated portfolio for passive income for 31 Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $11.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $259.05 (Mar 09)
PenWest Energy Trust had a dividend cut to US$0.15 per unit. Also added Pengrowth Energy Trust into my portfolio. It gives US$0.10 per unit.
My updated portfolio for passive income for 31 Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $11.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $259.05 (Mar 09)
Financial updates for March
This is a short post.
Just to remind myself that I added 6000 x Hongguo at $777.73 to my existing share portfolio.
In addition, opened a Citibank step up interest account to earn up to 1% interest for my deposits. Will take 12 months to step up to that 1% interest though.
Making an effort to update my monthly income and expenditure to this blog too.
My income for Mar 09 inclusive of bonuses and CPF contributions = $16, 381.
Hope to update my expenditure for the month of Mar 09 too.
Just to remind myself that I added 6000 x Hongguo at $777.73 to my existing share portfolio.
In addition, opened a Citibank step up interest account to earn up to 1% interest for my deposits. Will take 12 months to step up to that 1% interest though.
Making an effort to update my monthly income and expenditure to this blog too.
My income for Mar 09 inclusive of bonuses and CPF contributions = $16, 381.
Hope to update my expenditure for the month of Mar 09 too.
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