Dividends Update
The year has flashed past so quickly and soon we will enter the last quarter of the year.
On financial goals matter, I have restarted my initial dividend play to increase the passive income. It is certainly enticing to see the amount grow. An encouraging note is that the projected total amount for 2022 will cross the 6k mark, which translates into an average of 500 per month. A mini milestone to cross!
This amount is far off the goal set a couple of years back in the 'Goals by end of 2022' (10k). There is still a good 4 months. Most likely, I will miss this goal, but on the bright side I am making stock purchases and expanding the portfolio with the goal in mind to cross the 12k mark by end of next year.
Fingers crossed, I will hit it within the next 6 months depending on the market conditions!
Current thoughts
Once the 1k per month goal is achieved (depending on how soon it is,) I have every intention to start saving up for a house purchase when I reach my mid 30s.
It will be a bonus to be able to increase the dividends payout amount (depending on how much buffer I have in saving that capital)
Assumptions
Cost of house: 500k
Down payment: 15% which is equal to 75k
Targeted amount to save for purchase: 50k cash (with remaining from CPF to settle the peripheral fees)
Any extra cash beyond this will be channeled into increasing the dividends!
Final closing
Unless there is a special bull run towards the end of the year such that the investment portfolio value goes up, there is every chance I will not hit the 300k mark. A huge part of this reason is that I have been making the effort to prioritize experiences in life ever since the covid restrictions started to loosen up.
At this stage, I am certainly enjoying this liberal lifestyle and certainly have had more adventures! It will likely not stop, especially with visiting the surrounding countries around.
So for budgeting next year, I will make adjustments for the overall final amount targeted for end of the year.
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