Financial Goals Progress July 2021

Financial Goals Progress July 2021

Above is the progress of me reaching my targeted financial goals for July 2021. The total value of my financial assets continue to increase from 57.98% to 59.30%.

The increase was largely attributed to the continued performance of my stock portfolio and Forex.

What does my financial assets comprise of? The total value of my financial assets comprised of the following:

In May, I have start a Core Growth portfolio with Syfe. Let us see how it performed below.

Insurance Savings

This month, the revised crediting rate on the Singlife Account takes effect.

From 1 July 2021, the base return (crediting rates) on the Singlife Account will be revised to 1.0% p.a. on the first S$10,000 and 0.5% p.a. on the next S$90,000.

Last month, I have withdrawn most of my cash and deposit into Dash EasyEarn which earns me 2.0% for the first S$20,000. As such, I have maxed out my Dash EasyEarn account.

Singapore Savings Bonds

There is no Wow factor with Singapore Savings Bonds as I collect my monthly “kopi” money.

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

  • January 2020 (GX20010T)
  • July 2019 (GX19070W)
  • January 2019 (GX19010T)
  • July 2018 (GX18070N)

The effective interest rate of this month’s issue of Singapore Savings Bond (SBAUG21) is giving 1.50% 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.

I have been rather busy recently and thus did not monitor the stock market that much. Recently, I find it hard to find a good stock in the Singapore stock market. The current dividend yield of REITs are still not attractive and the payout can go both ways depending on whether there is a possible COVID-19 outbreak.

Auto Investing with Syfe

In May, I started the Core Growth portfolio with Syfe which has provided me a time weighted return of 3.34%.

This is quite amazing given the fact that my Core Growth portfolio is only two months old. I shall continue my strategy of topping my Core Growth portfolio monthly.

Dividends

This is a dry month for me. No dividends were collected this month.

You can check out My Stock Portfolio for the allocation of stocks in my portfolio.

Forex

In July, the Return On Investment (“ROI”) was 28.34%. This was a fantastic months with awesome gains!

Financial Goals Progress July 2021

Summary of Financial Goals Progress July 2021

At this point of writing, we are back at Phase 2 lock down as part of the measures for containing the COVID-19 outbreak. Malls and eateries took another beating and many shops decided to close their shutters for good.

The KTV and Jurong Fishery Port outbreak was  a disaster. It has taught us a lesson that we should not let our alert down.

With such prolonged measures such as no dining out, I believe this will have a significant impact on the retail, food and beverage sector.

Stay safe, stay calm!

Gro Capital Ease Is Back

Gro Capital Ease

The popular Gro Capital Ease is back. The single premium endowment plan provides a guaranteed return of 1.21% p.a. which will offer you a guaranteed maturity benefit of 102.43% at the end of the 2 years. Gro Capita Ease is on a limited tranche basis. This means that once it is fully subscribed, it will not be available. You will have to wait for the next tranche.

With falling interest rates, this can be a good alternative to traditional bank fixed deposits.

What are Endowment Plans?

Endowment plans such as Gro Capital Ease are life insurance saving plans offered by insurance companies.

The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.

Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.

In this case, Gro Capital Ease Plan is a single premium, non-participating life insurance savings plan offered by NTUC Income Insurance Cooperative Limited that gives you a guaranteed maturity benefit of 102.43% at the end of the 2 years

The minimum single premium for online purchase starts from $5,000. You may also choose to purchase through a financial advisor representative with a minimum single premium of $20,000.

My Opinion

In my opinion, Endowment Plans are low risk investments as compared to stocks and bonds. I have previously bought the NTUC Gro Capital Ease. Hurry up, do not miss out this opportunity!

Disclaimer: This is not a sponsored post and solely the author’s opinion.