Savings
For savings, I used the automated transfer move the saving from my salary crediting bank account to another bank account. This has 2 benefits, I will not be tempted to spend the money in the saving bank account because it is out of sight, out of mind. Secondly, I do not need to remember to do the transfer since it is automated.
Investments
After accumulating the funds in my saving bank account, as and when I am intending to buy stocks, I will then take a look and determine how much I could invest.
Ever since the start of this year, I have been buying US stocks. I intend to continue to do so till end of this year. Goal is to invest US$20k (10% of portfiolio) in US stocks.
How far from COAST FIRE?
Currently my portfolio stands at S$262k (not including market gains). I used cost price to calculate this. 55k CPF funds invested.
To meet COAST FIRE, I would need passive income that can pay 50% of my expenses (3k a month). Assuming my portfolio returns a 4% dividend a year, my annual dividend is 10.400 which is 870/month. I am still 630/mth short of my target, which translate to needing 190k more. Goal is to reach this in 7 years time, meaning saving 27k a year, which can be reached as I am saving 2400/month.
Any chances I could reach FIRE faster?
Yes, if the following events occurred
1) Keppel corp share price reaches to 15/share
2) Singtel share price reach above 5/share
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