Here I am, reporting my Financial Goals Progress for March 2025. The total value of my financial assets improved from last month’s low of 86.58% to 89.23% in March. The gain was due to the recovery of the share prices of stocks and REITs in my stock portfolio.
Why am I tracking my financial goals on a monthly basis? Financial goals are objectives that I have set in order to achieve financial success. Setting financial goals is important as it provides direction and motivation for managing money effectively. By establishing clear financial goals, I can track my progress, make informed decisions, and work towards achieving financial stability and security. My financial goal to stash sufficient money (target) which can help me to retire early in Singapore.
What is included in the total value of my financial assets? The total value of my financial assets is based on insurance savings, savings accounts (POSB, OCBC, CIMB, UOB, Trust, GSX), Fixed Deposits, Singapore Savings Bonds, Singapore Treasury Bills, current value of my stocks, and funds in Supplementary Retirement Scheme account.
Updates on My Stock Portfolio
If you noticed, I added CapitaLand Investment Limited to my stock portfolio. CapitaLand Investment Limited’s portfolio spans various asset classes, including retail, office, lodging, business parks, industrial, logistics, self-storage, and data centres. They operate in 45 countries across 270 cities. The current dividend yield is slightly below 5%.
Savings Accounts
In March, multiple banks start to reduce the interest rates for their saving accounts. Both my CIMB and OCBC saving accounts were not spared. The reason for the reduction in interest rates was because the Singapore Overnight Rate Average (SORA) interest rates have been dipping over the past few months. Singapore Overnight Rate Average (SORA) fell to 2.0822 per cent on 13th March 2025, the lowest since December 2022.
This month, I opened a GSX digital bank account given the attractive interest rates. Creating multiple Saving Pockets will help me save towards my financial goals. For that extra boost, the Boost Pocket pays me 2.78% per annum.
All my tranches of Fixed Deposit with CIMB Bank had matured. I have transferred the money into UOB Stash Account given the continued attractive interest rates.