Last month, I wrote about How To Grow Your Money In 2020. Above is the progress of reaching my targeted financial goal for August 2020 . The first step to grow your money is to set an achievable savings target. The savings target should be at least 5 figures (E.g. 20K or more).
I plotted the above chart to track my progress towards reaching my financial goal. At 100% is the amount of money I wish to have which is my financial goal.
The total financial assets I am tracking are:
- Insurance savings (NTUC RevoSave, Singlife, Dash EasyEarn)
- Savings accounts (POSB, OCBC, CIMB)
- Singapore Savings Bonds
- Current value of my stocks
- Supplementary Retirement Scheme
If you have noticed, I have signed up for Dash EasyEarn which easily earns you 2.0% per annum for the first year and 1.5% per annum for the subsequent years.
As you can see from the above chart, I am still 55% from reaching my targeted financial goal. I have made a progress of growing my savings by 3.57% from July to August.
The main reason for the growth is attributed to the increase in the value of my stocks. This is due to the gradual recovery of the stock market.
With many companies in my stock portfolio going Ex-Dividend this month, I am expecting to receive dividends pay from SPH REIT (18 August), Singtel (18 August), CapitaMall Trust (28 August), ParkwayLife REIT (2 September), OUE Commercial REIT (11 September) and Manulife REIT (25 September 2020). The dividends will be reflected in my financial goal progress update next month.
Every month, I am also receiving interest payout from the Singapore Savings Bonds I have bought every month over the years. On 1st September, I shall be receiving the interest payout from the following issues of Singapore Savings Bonds.
- Sep 2017 (GX17090X)
- Sep 2018 (GX18090T)
- Mar 2019 (GX19030Z)
- Sep 2019 (GX19090H)
- Mar 2020 (GX20030Z)
I shall continue to build multiple streams of passive income.
Hi there, i’ve just subscribed to your blog, there’s plenty of useful information here so thanks for this. I’m financially illiterate so its good to start reading up on this topic. I’ve a question, if you have SGD50K right now, how would you diversify it?