Financial Goals For January 2024

Long Term Financial Goal Progress for January 2024

We have came to the end of the first month of the year 2024 and I am going to provide an update on the progress of myself trying to reach my targeted financial goals for January 2024. It is definitely a fantastic start as the total value of my financial assets increased from 72.11% to 74.32%.

In January, I attributed the increase of my financial assets due to the maturity of the fixed deposits that I placed with CIMB Bank. As I could not find a better deal, I renewed my principle including the interests collect with CIMB Bank again. CIMB Bank is offering 3.50% p.a. for a 6 month fixed deposit placement.

Supplementary Retirement Scheme (SRS) Funds

I have been actively contributing to my SRS funds for the sake of tax relief. SRS funds is one of the retirement bucket that I intend to fill as I can draw down from this bucket from 62 years old onwards for 10 years.

In November, I used the money in SRS to purchase BS23122F 6-Month T-bill and BS23123Z 6-Month T-bill. The cut-off yield for BS23122F 6-Month T-bill and BS23123Z 6-Month T-bill is 3.75% and 3.80% respectively.

In December, I further utilize my SRS funds to purchase BS23125H 6-Month T-bill.

This month, I emptied my SRS funds to purchase BY24100T 1-Year T-bill. The yield has fallen to 3.45% p.a. Despite the lower interest rates, it is still better than leaving the money sitting in SRS account earning that petite 0.05% p.a. interest rates.

My Stock Portfolio

My Stock Portfolio

At this point of writing, some REITs such as Mapletree Logistics Trust has started to report their latest financial results. One of my largest holding Frasers Centrepoint Trust has also shared their 1Q24 business updates. Keppel DC REIT has also reported their financial results but I have yet to review them.

I am having mixed feelings. Some fellow financial bloggers had warned me to stay away from REITs because of the high interest rates environment. Another batch cautioned me of investing in Banks. I shall spend some more time thinking before deciding to add on more REITs or Bank stocks to my stock portfolio.

Again, I wish 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.

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