Today I am updating the progress of myself trying to reach my targeted financial goals for April 2023. The total value of my financial assets increased from 64.46% to 66.21%. The stock market was on an uptrend over the past 3 months. Thus, the value of my stock portfolio grew significantly and thus contribute to the increase in value of my total financial assets.
If you have followed my updates every month, the total value of my financial assets are based on the cash value of the following:
- Insurance savings (NTUC RevoSave Cash Benefit)
- Savings accounts (POSB, OCBC, CIMB)
- Singapore Savings Bonds
- Current value of my stocks (My Stock Portfolio)
- Supplementary Retirement Scheme
Insurance Savings
As usual, NTUC Revosave continue to reward me with its cash benefit. I continue to leave the cash benefit deposited with NTUC Income at 3.0% per annum.
One of the Endowment Plan that I have bought with Income have reached maturity and I have gotten back the guaranteed principle and interest. I am keeping out a lookout for new launches of short term endowment plan so that I can park the cash I just gotten.
It is a waste I have missed the previous GREAT SP Series 10 which gives me 4% per annum for one year.
Savings accounts (POSB, OCBC, CIMB)
I have 5 tranches of fixed deposit placement with CIMB. These are very short term deposits with none of them stretching more than a year. Now, I just have to wait for them to reach maturity.
When they reach maturity and interest rates continue to remain attractive, I will reinvest them into fixed deposits. However, looking at The Best Fixed Deposits of May 2021, any expectations of high interest returns looks bleak.
Singapore Savings Bonds
Singapore Saving Bonds continue to be an almost risk free investment. The effective interest rate for SBMAY23 is 3.07% p.a. over a 10 years period. I am terribly disappointed with the current interest rates. As such, I will hold on to cash to wait for better interest rates ahead.
Readers who wanted safe haven or place for emergency funds should consider Singapore Savings Bond.
The good thing about Singapore Savings Bond is that you can redeem them anytime because there is no lock in period.
In April, I have collected the following interest payout from the Singapore Savings Bonds that I have bought every month over the years.
- October 2015 (GX15100F)
- October 2018 (GX18100V)
- April 2019 (GX19040X)
- October 2022 (GX22100X)
If you want to predict next month interest rates, check out the 2 guides that I have written on Singapore Savings Bonds.
My Stock Portfolio and Dividend Payout
This month, many REITs in my stock portfolio are announcing their quarter financial results or providing a business update. So far, I have covered ParkwayLife REIT and Frasers Centrepoint Trust in my stock portfolio.
I have added more of Frasers Centrepoint Trust to my stock portfolio. As such, the allocation grew from 3.04% to 3.84%. I will continue to accumulate Frasers Centrepoint Trust in the upcoming months if opportunity allows because I have confidence in this REIT.
US stocks continue to be expensive and thus there are no changes to my US stock portfolio.
Last, I just want to share that I use Stocks Café to keep track of the total value worth of my stocks. Stocks Café is my preferred tool for managing my stock portfolio. It is packed with tonnes of intelligent features such as portfolio monitoring and reporting, dividend tracking, stock screening. All these features are automated which means no manual entry is required.
Summary of Financial Goals for April 2023
In April, I wanted to look at property as an alternative invest. However, the government announced the cooling measures that make investors like me shun away from the property market.
With crazy ABSD rates, I am happy with investing my monies into stocks that pays dividends. At least, I am able to sleep well at night and not worried about hefty property loans I have to pay off.
Congratulation