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