Financial Goals For August 2023

Long Term Financial Goal Progress for August 2023

It is the same time of the month again where I provide an update on the progress of myself trying to reach my targeted financial goals for August 2023. The total value of my financial assets decreased from 71.06% to 70.00%.

The decline was due to the decline in total value of my stock portfolio. Most REITs have reported a decline in Distribution Per Unit (DPU) as the rise in interest rates caused an increase in financial cost which eroded the distributable income to unitholders.

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


As usual, NTUC Revosave continue to reward me with its cash benefit. I know T-Bills are attractive but I will continue to leave the cash benefit deposited with NTUC Income at 3.0% per annum.

Gro Capita Ease launched in June 2023 with a guaranteed yield at maturity of 3.55% per annum at the end of the 3 year policy term is fully subscribed.

If you are not familiar with Endowment policies, Endowment Policy or plans are life insurance saving plans offered by insurance companies. It is a great way to grow your savings as well given the comparable interest rates to fixed deposits.

Savings accounts (POSB, OCBC, CIMB)


In the month of August, the fixed deposit interest rates continue to be attractive. For example, CIMB Bank is offering 3.55% per annum for a 9 months fixed deposit placement.



$10,000 AND ABOVE



$10,000 AND ABOVE

6 months3.353.40
9 months3.553.60
12 months3.153.20

However, I have depleted most of my war chest and thus shall not be doing further placement of fixed deposits in the short term.

Singapore Savings Bonds

Singapore Saving Bonds continue to be an almost risk free investment. The effective interest rate for SBSEP23 is 3.06% p.a. over a 10 years period. The interest rate continue to be worse than what endowment policies and fixed deposits that I shared above can offer.

Singapore Savings Bonds SBSEP23 GX23090F

Despite the low interest rate, Singapore Savings Bond is a safe haven or place for emergency funds. You can also redeem them anytime because there is no lock in period.

In August, I have collected the following interest payout from the Singapore Savings Bonds that I have bought every month over the years.

  • August 2018 (GX18080F)
  • February 2019 (GX19020V)
  • August 2022 (GX22080V)

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

In August, I received the dividend payouts from Singtel, Boustead, OUE Commercial REIT and OCBC Bank.

There are no changes to my Stock Portfolio as I have not bought any stocks this month. Because of the high interest rates, the financial costs for all the REITs have increased which eroded the distributable income for unitholders.

The total value of my stock portfolio declined significantly this month, led by REITs. However, I am not so much bothered by it. Rather, I am waiting for share prices to fall further so that current dividend yield becomes more attractive.


My US stock portfolio also remained unchanged.

Financial Goals For May 2023

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 August 2023

Most of the REITs in my stock portfolio have announced their financial results. You can find them here.

The Fed like to flip Roti Prata. On Friday, Fed Chair Jerome Powell said that the Federal Reserve may need to raise interest rates further to cool still-too-high inflation.

The inflation rate is already at 3% and I cannot believe the Fed goal is to bring it down to 2%.

United States Inflation Rate June 2023

With such news, I shall be more cautious about adding more REITs as distribution will suffer with the further rise in interest rates.

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