Above is the progress of me reaching my targeted financial goals for August 2021. The total value of my financial assets continue to increase from 59.30% to 59.57%. The growth is 0.27%. The growth comes from dividends collected from my stocks which I shall share more details below.
What does my financial assets comprise of? The total value of my financial assets comprised of the following:
- Insurance savings (NTUC RevoSave, Singlife, Dash EasyEarn, Dash PET)
- Savings accounts (POSB, OCBC, CIMB)
- Singapore Savings Bonds
- Current value of my stocks
- Auto Investing (Syfe)
- Supplementary Retirement Scheme
I treated my Singlife, Dash EasyEarn and Dash PET accounts as alternative savings accounts as they are potentially safe haven whereby you just deposit money and watch them grow effortlessly.
I have reached the maximum allowed amount of S$20,000 in Dash EasyEarn which is giving me a return of 1.2% per annum.
Dash PET is giving me 1.70% p.a. for the first S$10,000. The crediting rate for any amount above S$10,000 is 1.20%.
I am refraining from topping up my Dash PET account further as I will like to use my surplus savings to invest into other assets.
Singapore Savings Bonds
There is no Wow factor with Singapore Savings Bonds as I collect my monthly “kopi” money.
In August, I have collected the following interest payout from the Singapore Savings Bonds that I have bought every month over the years.
- February 2020 (GX20020V)
- August 2018 (GX18080F)
- February 2019 (GX19020V)
- August 2019 (GX19080E)
The effective interest rate of this month’s issue of Singapore Savings Bond (SBSEP21) is giving 1.43% per annum. Readers who wanted safe haven or place for emergency funds should consider.
My Stock Portfolio
I use Stocks Café to keep track of the total value worth of my stocks. With the easing of COVID-19 measures, people start to return to work and the Singapore economy embarks its journey of gradual recovery.
Unless there is a U-turn down the road, I foresee that my stock portfolio will continue its growth. This is an exciting month for me as you can see some companies in my stock portfolio are paying dividends in this month.
Auto Investing with Syfe
In May 2021, I started the Core Growth portfolio with Syfe. As of today, Syfe has provided me a time weighted return of 4.82%.
In August, I have collected dividends from Singtel, Frasers Logistics and Commercial Trust, SPH REIT, OCBC Bank, ST Engineering and ParkwayLife REIT.
Except for Singtel and OCBC Bank, I have large positions in the other mentioned stocks and REITs which provided me with good dividends.
In August, the Return On Investment (“ROI”) was 26.11%. Even though this is slightly lower than the returns in July, this is still awesome to me!
Summary of Financial Goals Progress August 2021
During the COVID-19 pandemic, I read about many businesses closing and people losing their jobs. People accepted low paid positions just to secure a job during the pandemic.
This month, many of my colleagues in my company resigned as they mentioned they have found higher paid positions elsewhere. This proves that many companies are opening up and massively hiring!
Finding higher paid positions is also a way of growing your financial income since job salary to the majority of us is our primary source of income to fund our savings and investments. Having said that, I will still like to observe the job market to stabilize first before making further decisions.
In the meanwhile, I shall continue to focus on hunting good quality dividend stocks which can provide me with passive income till my sweet retirement.