SG Budget Babe
Asked on 24 Dec 2019
For me I have 3 main goals for 2020:
To carry on investing consistently for CPF/SRS/Cash
To get my parents a good miles card so that they can finally tryout business class
Properly do up my will and CPF nomination, give my passwords to my sister so that if anything happens to me, there will be less stress on my family.
This is a great question :) I posted this one last year as well.
Really hope to hear many other perspectives also.
My Personal Financial Resolutions for 2020:
Increase Investment portfolio value to more than $50k (or more hopefully) by end of year
Deriving a total dividend yield of around 6 to 7% p.a distributed in quarters
Optimise my REIT portfolio to model the index better so it's more diversified
Continually contribute my RSP between $500 to $1000 every month
Ensure our Joint Account with my other half continues to grow well to hit our renovation and wedding fund (and put at a better Yield location rather than the 1% to 2 % p.a now)
Buy 2 x Growth stock (handpicked) during the market crash (when it happens) This one seems to be taking some time, we're all waiting patiently on the side, capital ready to deploy
Donate some % of my income to charity I believe in (right now it's the Brain Tumour Society Singapore and Hospice Care Association Singapore)
Other company resolutions:
Grow the Seedly community to be the biggest and most relevant in Singapore centered on the mission to make smarter decisions!
Grow our Seedly team and hope everyone feels that they are growing as the company grows! (now we are at around 15 pax)
2020 will be a super big year for us as we start to capture value which we have created over the past 3 years (for key categories in personal finance in Singapore)
Together with our awesome team, run Singapore's largest personal finance festival in March next year! It's gonna be YUGGGEEEEEE.
Other personal resolutions:
Lose 9kg by wedding date (in Aug 2020) lol. this is taking some time also...
Going for my first business class flight with my new wife (after collecting over 300k miles together during my wedding period)
Oh yes, and documenting this journey as well on Seedly
I will be documenting my investment journey here on my Seedly profile, so do join me here: https://seedly.sg/profile/kenneth-lou
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30 Dec 2019
Top Contributor (Jan)
I recall answering something similar recently, so I'll recap the main points.
Continue to invest, RSP for my UTs and stocks when a good price presents itself. I have a watchlist and a warchest waiting.
Continue the work I do for my clients in helping them manage their financial portfolio, both on insurance and investments
optimize my credit card portfolio (4 mpd), the wife has just tasted business class for the first time 3 days ago and I'm sure she will want more...better start to earn miles more efficiently
Continue to maintain my budgeting framework, although once I find a house, I will have to cut back a little on ny investment allocation
Continue to share my opinions on Seedly, so that people and question posters may benefit, thanks to Kenneth and the team who have build this community. And also pick up new opinions from the rest here, there are too many to name, but it's always enlightening and good to read about other viewpoints.
Off the top of my head, these are probably the top few. Typing on a phone is hard work 😅
For mine it is:
Continue investing 40% of my monthly salary
Increase my dividend yields
To enjoy life abit more. I have been way too stingy with my money 😅
Review my current insurance coverage
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Top Contributor (Jan)
I strive to create better and higher quality on my blog and Facebook Page on financial planning and estate planning in Singapore.
Additionally, i am continously optimising my wealth accumulation needs through comprehesnive financial planning for the future. Accordingly, I will take the opportunity to review the merticulous planning that I have crafted out previously and ensure that all gaps and needs are accounted for.
This process is particularly necessary as I intend to change my car in view of my upcoming house in 2 years' time.
Here is everything about me and what I do best.
24 Dec 2019
These are my 2020 finance goals!
To start learning about investing and perhaps start to invest.
Review my spending habits, partically on Food.
Save at least minimum 40 - 50% of my monthly salary.
Top up my SA.
Reading up on Insurance and get the essential one first.
30 Dec 2019
Continue investing my monthly salary
Continue budgeting and tracking my expense.
Having a part-time business
Making better decisions in my spendings and spend more time planning my expenses, lack in planning usually ends up in additional costs.
Set up a rebate/cashback system for most of my expenses.
Plan a portfolio that i can build on for years to come.
Resort my insurance needs and get/replace the necessary ones.
30 Dec 2019
Control my spending for food (spending wayyyyyyy too much on food)
Continue to learn about personal finance and investing
1) Achieve FRS in SA by Dec 31 2020
2) continue dividend farming to generate passive income
3) Continuing fight to recover my Srs (from early mistakes in 17/18) and put it back into black
Great question and it triggered me to put in more thoughts for 2020!
Here are my immediate 2020 Financial Goals:
Continue to contribute to my RSP monthly
Double/triple the investment amount into my current stocks portfolio (currently its a small size)
Explore more alternative investment (e.g P2P) as part of my investment strategy
Optimise my credit card spending strategy (as 2020 will be a financial spend heavy year for me and my SO)
31 Dec 2019
Thanks for asking!
3 main goals:
1) Set up routine to regularly top-up baby's CDA account as well as joint account with wife
2) Regularly maintain a FB Page and see whether that can turn into a viable side hustle in future. If it doesn't take off, then I see it as a way of documenting & sharing my passion about Japan
3) START Investing! I only have fixed deposits and SSBs. High time to spice it up, lol
Let me check this post one year from now to see if I succeed. Heh.
30 Dec 2019
My new year resolution is to accumulate enough wealth by saving and investing such that it grows by about 20% more than what I have now. Keeping that magical number a secret
Happy new year 2020 to all seedly friends and readers!
My new year resolution is
to be cashflow positive again! (sorry, this sounds weird but this is because I started 2 very capital intensive business in 2019 that made my income negative)
to start investing again! (again, stopped in 2019 due to reasons)
to start buying and holding stocks for my 2 kids!
Start exercising daily (seriously - health is damn important)
Start trading options again! (used to be making a good sum, but stopped again due to business reasons)
Start a new business this year (seriously business has the best ROI compared to investment)
Upside my Investment portfolio value to 300k
Properly document dividend yields
Balancing my Growth & REITs portfolio
Give Robo (Endowus) a try
Tracking a few Growth stocks amidst a recession (when it eventually happens)
Partake in less stressful events
Be more generous to oneself and others
My financial goals for 2020:
Save 50% of my monthly salary
Review all my spending and cut out unnecessary ones and terminate unnecessary subscription.
Top up my CPF.
Achieve my first $10,000 by 31 Dec 2020. It will be better if I have slightly more. 😄
Continue to read up and ask people about investing. I will only start investing when I have enough cash flow.
Seek advise from the experts around on how to plan and manage personal finance better
Cutting unnecessary expenses and insurance.
Cancel off credit cards that hardly use
To expand on REIT portfolio for diversification
To start RSP investment
Review current service providers of services used and look for cheaper & better alternatives.
Aim to save min 30% of my salary, with current household expense getting higher as both parents retired