Saturday, March 17, 2012

Financial Freedom at 30?



Recently, I have lost some motivation in building my Singapore portfolio. After my portfolio value crossed the 100k mark, I kinda lifted my foot off the gas pedal. I am in my comfort zone. I thought I had achieved alot for someone of my age. As a result, my portfolio size has remained rather stagnant in 2012.

For the past few days while I was on leave, I did some deep thinking. Next year, I will be turning 30. I am determined to collect S$1k per month in dividends by then because I want to celebrate my 30th birthday by achieving financial freedom.  I want to enjoy my thirties!

Right now, my monthly passive income is around S$700 on average. There is still a shortfall of S$300 per month, or $3,600 per year. I really need to save more and invest prudently. S$700 cannot cover my monthly expenses.

Below is a rough breakdown of my monthly expenses:
- Phone bill: S$30
- Internet bill: S$30
- Insurance: $200
- Food: S$150
- Transport: S$100
- Parents' allowance: S$500
Total: S$1000 (just for survival >_<" )


However, the recent high prices of stocks are stopping me back from adding to my portfolio. Furthermore, if I keep on waiting, my money will be losing its value in the bank account. Sigh.......I think it will be difficult to reach my target of 130k in portfolio size this year.
I watch this video to keep myself motivated. ^^



Peace Out,
Dividend Warrior

9 comments:

B said...

DW

Just like yourself, I did not add on much to my Singapore portfolio but i think we should not do so in a hurry at today's relatively high prices.

You may be right that keeping our money in the bank we are losing value. But if you look at it from another viewpoint, we are keeping our land of opportunity open... e.g what if oil prices shoot up or war breaks...that would be our golden chance. So I shall take the losing value of our money in the bank (at least momentarily) as an opportunity cost to gaining much more i would say.

Like yourself, I am looking at the outside shares at the moment. You may be interested in France Telecom (FTE in ADR NYSE). High dividend of 13.25% at current price (9.5% yield after witholding tax), price at its historical low and most importantly blue chip index of the France CAC index :)

B

B said...

And ohh... I think you need to surely increase your expectations up. S$1,000/month is definitely not a diffcult goal for you. You are much too capable for that :)

Anonymous said...

Hi DW,

$1K/month is my target by year 2015....it is going to double up my portfolio

Gregg

Singapore Man Of Leisure said...

DW,

Well done!

Taking a breather (comfort zone) is merely preparing yourself for scaling higher peaks or taking a longer route.

You will soon get your "motivations":

1) Girlfriends allowance.

Even if you choose to remain single, it will still cost - unless you look like Brad Pitt ;)

You ladies man you!


2) Housing allowance.

Can also be an interesting cash flow if you buy and rent out while staying with parents.

Or you may need your own "lair" when inviting the babes back to look at your "comics collection".

Yeah right!

LOL!

P.S. Boys will be boys. Better get it out of your system than be flushed with money at 50 or 60 and fall for any gold-digger that target you!

SmartPassiveCashFlow said...

Hi dividendwarrior, its great to see young people like yourself gearing up for financial freedom. What do you see yourself getting per month in the next 6 years?

I am also in the process of generating passive cashflow for myself too. Not so much on dividends but more on collection of contract fees. My next milestone is $10k per month. Targeted in ard 6 years time. Thanks for your sharing. Lets move towards our target. What is your expected returns per month in 6 years time and 12 years time. Lets exchange more notes ghabks.

Thanks for sharing. Would like to hear from you. Your expected returns per month int

FoodieFC said...

Hi DW,

been a long time since you post!

I am far far away from reaching your level!

Jiayou! Go for more passive income per month! You are doing great for your age!

panasonic88 said...

D W

Greetings from Malaysia.
I am same age as you, I want to say, you are doing great & you are on your way to Passive Income path. I admire you.

Set a new goal when you've achieved the current one. So that you will be motivated & filled with positive charge to breakthrough your next goal.

I did it the same way. In fact, I'm on the same pace as you. I broke my 100k target couple months ago. My new target for this year is 150k. Set 200k if you are ambituous.

Keep it up D W! :)

Anonymous said...

Hi, u profile look greats........what will u do if u only have 10k to invest ?

Meat lover said...

Can I know for your dividend stock how do you know when to sell? eg you buy 1 lot of a REIT for the dividend but after a while it looks like the value is falling below your buy price. Do you still hold or sell it? Because dividend stock is supposed to be for longterm right?

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