Financial Goals Progress May 2022

Financial Goals For June 2023

Long Term Financial Goal Progress for June 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 June 2023. The total value of my financial assets increased from 66.61% to 70.84%. The more than usual increase was because I received my yearly work performance bonus and dividend payout from the stocks I held in my stock portfolio.

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 continue to leave the cash benefit deposited with NTUC Income at 3.0% per annum.

In June, NTUC income is back with their Gro Capita Ease. Gro Capital Ease launched in June 2023 is offering a guaranteed yield at maturity of 3.55% per annum at the end of the 3 year policy term.

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.

Since I have money sitting idle in my Supplementary Retirement Scheme account, I have deployed them into Gro Capita Ease.

Savings accounts (POSB, OCBC, CIMB)

1 out of the 5 tranches of fixed deposit placement that I had with CIMB had matured. Since the fixed deposit rate offered by CIMB is still attractive at 3.15% p.a., I simply renewed the fixed deposit for another 6 months.

Singapore Savings Bonds

Singapore Saving Bonds continue to be an almost risk free investment. The effective interest rate for SBJUL23 is 2.82% p.a. over a 10 years period. The interest rate is worse than endowment policies and fixed deposits that I shared above.

Singapore Savings Bonds SBJUL23 GX23070H

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

  • June 2018 (GX18060H)
  • December 2018 (GX18120X)
  • June 2019 (GX19060H)
  • December 2022 (GX22120S)

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 June, I received the dividends payout from ST Engineering, Mapletree Pan Asia Commercial Trust and Frasers Logistics and Commercial Trust.

My stock portfolio remained unchanged because I have not bought or sold any stocks in June.

Portfolio_202304_April

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 June 2023

This is a fantastic month as I receive my performance bonus from work.

On top of that, ST Engineering, Mapletree Pan Asia Commercial Trust and Frasers Logistics and Commercial Trust which are my top holdings in my stock portfolio also paid out their dividends.

Despite a sudden increase in cash on hand, I reminded myself to be prudent in spending. As shared last month, food and utility prices are constantly rising. Just this month, I received a reminder letter from Town Council reminding of the increase in conservative bill over the next few months and in 2024.

My advice to everyone, spend wisely!

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