Above is the progress of me reaching my targeted financial goals for September 2022. The total value of my financial assets decreased to 61.43%. The main cause of the decline in total value was attributed by the decrease in value of my stock portfolio because of the recent market crash. I shall share more on my stock portfolio below.
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
Insurance Savings
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.
If you have been following my blog, you know that I have a Dash PET account. In September, I have terminated my Dash PET account and withdrawn all the monies and place them into Singapore Savings Bonds (SBOCT22 GX22100X) give the returns are better.
Now let me touch on my Singlife Account. From 1st October 2022 onwards, Singlife will increase their crediting rate from 1.0% p.a. to 1.5% p.a. Meanwhile, I shall still leave my money with Singlife untouched.
Dash EasyEarn still offers the same 1.2% per annum despite their competitors raising interest rates. I shall continue to park my existing money in Dash EasyEarn until I have further plans.
Savings accounts (POSB, OCBC, CIMB)
In June, I have took opportunity of the rising interest rates and placed a 12 months fixed deposit with CIMB.
In July, I did another fixed deposit placement of 18 months with CIMB which is offering 2.3% p.a.
The 2.70% per annum fixed deposit rate offered by CIMB in September is really tempting. However, since I already did two tranche of placement with CIMB, I refrain from doing so this month.
Singapore Savings Bonds
Singapore Saving Bonds continue to be an almost risk free investment. The effective interest rate for SBOCT22 is 2.75% p.a. over a 10 years period. Even though the interest rate is lower than SBSEP22 and SBAUG22, it is still very attractive.
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 September, I have collected the following interest payout from the Singapore Savings Bonds that I have bought every month over the years.
- September 2018 (GX18090T)
- September 2017 (GX17090X)
- March 2019 (GX19030Z)
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 September, I received my dividend payouts from ST Engineering, OUE Commercial REIT, Delfi Limited, Capitaland Integrated Commercial Trust, Mapletree Logistics Trust and ParkwayLife REIT.
If you realise, my allocation of Singapore Savings Bond increased from 19.80% to 22.88% because I terminated my Dash PET account and used the money to purchase this month’s issue of Singapore Savings Bond.
I took a short holiday trip during the September school holidays. As such, I have not been monitoring the stock market. When I looked at the stock market just a few days ago, I was surprised that the stock market has crashed so badly, dragging the value of my stock portfolio down. Uncontrollable inflation was the culprit, resulting in possible further interest rate hikes.
There is no change in my US stock portfolio. However, I foresee I may add on more stocks given that the US stock market has crashed so badly and many stocks are either under valued or fairly valued.
Auto Investing with Syfe
Syfe continue to perform poorly with a time weighted return of (13.89)%. This is because the portfolio I chose is heavy weighted on Equity. When tech stocks in the China and US market crashes, it is expect they will drag equity markets down.
If you want to know more, the Capital Growth portfolio comprises of 69.0% equity, 25.0% Bond, 5.6% Commodity and 0.4% cash.
Summary of Financial Goals Progress September 2022
What a disappointing month! Despite the Fed raising interest rates multiple times, inflation is still unbeatable and uncontrollable!
At this point of writing, Japan, Taiwan and Hongkong have announced that they are opening their borders. This means that tourists can now travel to these top notch destinations. More spending by tourists means higher inflation? How to control spending when we have been deprived of our leisure in the past two years due to COVID-19?
We have 3 more months to go before the year 2022 ends.
Am I on track to reach my 2022 financial goals?
We shall see…