Above is the progress of me reaching my targeted financial goals for October 2022. The total value of my financial assets continue to decrease to 59.41%. The main cause of the decline in total value was attributed by the decrease in value of my stock portfolio because the stock market continue their sell down. I shall share more on my stock portfolio below and the stocks I have added to my stock portfolio.
If you wonder how I compute the total value of my financial assets, they are:
- Insurance savings (NTUC RevoSave, Singlife, Dash EasyEarn)
- Savings accounts (POSB, OCBC, CIMB)
- Singapore Savings Bonds
- Current value of my stocks
- Auto Investing (Syfe)
- Supplementary Retirement Scheme
In this section, let me share on the savings I have related to insurance.
I have money stashed away with Singlife and DashEasyEarn. These are alternative to traditional savings accounts whereby they offer higher interest rates as compared to traditional bank savings accounts.
In September, I have terminated my Dash PET account and withdrawn all the monies and place them into Singapore Savings Bonds (SBOCT22 GX22100X) given the returns are better.
I continue to leave my money with Singlife untouched. From 1st October 2022 onwards, Singlife had increase their crediting rate from 1.0% p.a. to 1.5% p.a.
Dash EasyEarn offers 1.2% per annum but they have offered existing holders an additional 1.8% per annum. This adds up to 3.0% per annum. I shall continue to park my existing money in Dash EasyEarn until I have further plans.
Savings accounts (POSB, OCBC, CIMB)
I already had 2 tranches of fixed deposit placement with CIMB. Thus, I have refrain from doing more fixed deposit placement despite the high interest rates promotions.
Singapore Savings Bonds
Singapore Saving Bonds continue to be an almost risk free investment. The effective interest rate for SBNOV22 is 3.21% p.a. over a 10 years period.
Readers who wanted safe haven or place for emergency funds should consider Singapore Savings Bond.
The good thing about Singapore Savings Bond is that you can redeem them anytime because there is no lock in period.
In October, I have collected the following interest payout from the Singapore Savings Bonds that I have bought every month over the years.
- October 2015 (GX15100F)
- October 2018 (GX18100V)
- April 2019 (GX19040X)
My Stock Portfolio and Dividend Payout
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.
In October, the President Joe Biden announced further tightening of Chips export. This resulted in the Chip Stocks Crashed. I took opportunity and added more of NVIDIA.
At this point of writing, I observed that there are mixed sentiments in the US stock market. Certain stocks in my US stock portfolio continue to perform well but some continue to be sold down badly. Nevertheless, I believe these are good growth stocks to hold long term.
Auto Investing with Syfe
As the equity market continue to perform badly, I have transferred my investment in Syfe to Money Pot. This is basically Syfe’s Cash Management solution whereby monies are invested in money market funds.
I did this because I am not sure which investment plan to choose currently in Syfe.
Summary of Financial Goals Progress October 2022
We are reaching almost the end of the year. The outlook of the stock market continue to look bleak with Fed aggressively increasing interest rates to control inflation. This also caused economies to go into a recession.
The war in Russia and Ukraine continues which resulted in energy prices sky rocketing.
Will there be a rally in the stock market to end this year with a blast?
Meanwhile, I tell myself to keep calm and collect dividends.