Me & My Goals

I recently graduated (May 2013) from one of the local universities in Singapore and was fortunate to be able to start work immediately after my last exam paper. I work in the finance industry and am on track to obtain the Chartered Financial Analyst (CFA) and Financial Risk Manager (FRM) designations by year 2016/2017. 

The function of this blog is to track my net worth on a monthly basis and chronicle my journey towards financial freedom. I have a long term approach to stock investing and my strategy is to buy shares of solid dividend paying companies at depressed prices. 

The sources of my capital for wealth accumulation over the years were:

1) Salary from full time job
2) Savings from National Service(NS)
3) Income from giving private tuition
4) Bursaries
5) Parents allowance
6) Dividends
7) Ang Pow money
8) Yearly GST Vouchers
9) Paid surveys from school
10) Allowance/Salary from internships and part time jobs

Overview of my goals (Click on each goal for further elaboration)

My short term goal is to accumulate $70,000 (in cash or liquid investments) by age 25 (31 Dec 2013) - Achieved in May 2013

2nd goal: $200,000 by age 28 (31 Dec 2016) or $150,000 if wedding & flat renovation expenses are incurred before that

3rd goal: $500,000 by age 33 (31 Dec 2021)

4th goal: $1 million by age 38 (31 Dec 2026)

Ultimate goal - $5 million (excluding primary residence) by age 55 (31 Dec 2043)

Finally, I will retire and live off an average of 5% yearly returns(through bonds/dividend shares/preference shares/property rental/others) from the $5 million investment holdings. This amounts to $20,833 of monthly passive income.

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