We are almost reaching the end of August 2020 and it is time again to do some self reflection related to money growing ideas, stock transactions and stocks I am watching. This helps me remain focused and on track towards building up my retirement portfolio.
“Man sacrifices his health in order to make money. Then he sacrifices money to recuperate his health” – Dalai Lama
Last month, I mentioned that I will consider increasing my allocation of CapitaLand Mall Trust in my stock portfolio should stock prices fall to attractive levels. Unfortunately, the stock price for CapitaLand Mall Trust did not fall enough to reach my expected level. There was strong support at S$1.85. Nevertheless, I shall continue to monitor and wait for an opportunity.
Venturing Into Forex
Based on a recommendation from an old friend, I have started venturing into Forex. As I am new to Forex, I performed my transactions solely based on my friend’s advice. I have made a return on investment of 2.56% for the month of August 2020.
I have heard about how risky Forex is, thus I started with a small capital of only US$2,000.
I wrote about being inspired by “Lady, You Can Be Free”. In August, I have completed and gotten my certification on SCRUM Fundamentals and Six Sigma Yellow Belt.
Building My Retrenchment Fund
Last month, I signed up for Dash-EasyEarn. Dash-EasyEarn is an insurance savings plan by Etiqa Insurance that is only eligible to Dash users. If you are not familiar with Dash, Dash is a mobile wallet provided by Singtel. Similar to the Singife account, Dash EasyEarn have no monthly fees, no regular top ups required and no lock in period.
I have started to contribute a portion of my salary into Dash-EasyEarn which easily earns me 2.0% p.a. interest for the first year. Moving forward, this shall be my monthly routine until I reached the maximum allowed amount of S$20,000.
Not sure where to place your money? Read about Where Will You Put 50K? for my money growing ideas.