What are your personal finance resolutions for 2019? - Seedly

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Asked by Daniel Lee

Asked on 19 Dec 2018

What are your personal finance resolutions for 2019?

Here is Seedly's "5 Days of Christmas" Day 3 task!

Tell us what are your personal finance resolutions for 2019? And if you'd like, share a little about your personal resolutions as well.

For me, my pf resolutions would be to get my finances in order, starting with using the Seedly Money Framework. And personally, to get healthier by cutting down on some bad habits, as well as.. maybe.. exercising.

Let's hear yours!

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Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 8. Wizard
Updated on 07 Jun 2019

My Personal Financial Resolutions for 2019:

  • Bring my total Investment portfolio value to around $50k or more by end of year
  • Deriving a total dividend yield of around 6 to 7% p.a distributed in quarters ($3,500 cash yield every year)
  • 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 (and put at a better Yield location rather than the 1% p.a now) Saw a 2.02% savings account model type (even better than SSB)
  • Buy 2 x Growth stock during the market crash (when it happens)

Total Returns = Capital Gains (growth stock) + Dividend Yield (REITs)

Other side resolutions:

  • Grow the Seedly community here while our team also grows! And become Singapore's largest personal finance community centered on the mission to make smarter decisions!
  • Donate some % of my income to charity I believe in (right now it's the Brain Tumour Society Singapore)
  • Lose 10kg and win the weight loss challenge at work - Total pot is worth $1k LOL
  • Try the Keto diet lol.

I will be documenting my investment journey here on my Seedly profile, so do join me here: https://seedly.sg/profile/kenneth-lou

Here is the reference from previous years general template:

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Adam Yam
Adam Yam

17 Jan 2019

Hi Kenneth, do you expect all of your portfolio to derive 6-7% dividend yield? Or is there some growth stock vs dividend stock element to this?
Kenneth Lou
Kenneth Lou

17 Jan 2019

Hey Adam! Yup annualised return, so both growth and dividend yield combined. Now my dividends are close to 4.5 to 5% so it's decent... need to look for better yielding stocks with incremental growth elements.
HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Updated on 07 Jun 2019

My personal finance resolutions for 2019:

  1. Learn to self pick REITS and low cash high potential equity via direct investment as first steps to build passive income stream.

  2. Sign up more classes to upskill / upgrade for better jobs / more income.

  3. Find alternative income stream to save more for better cash flow to invest to reach goal #1 faster.

  4. eXcercise and food control to lose 10kg! :P

What's yours ? Any suggestions to reach all the above in plan ? :)

Since we "Never plan to fail but fail to plan!" - Let's work towards our goals by first start planning !!!

Cheers! Merry Christmas and Happy 2019!

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Pascal Samsoon
Pascal Samsoon

23 Dec 2018

I'm also watching my weight and body fat for 2019! #weightcontrol
HC Tang
HC Tang

23 Dec 2018

@Pascal Samsoon High 5! 😄
Yew Khim
Yew Khim
Level 3. Wonderkid
Updated on 07 Jun 2019

i wish i can make more money whilst sleeping. i meant i hope to earn more passive - not selling my body. haha.

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Leong Wen Fong
Leong Wen Fong

19 Dec 2018

I'm glad you clarified
Kenneth Lou
Kenneth Lou

19 Dec 2018

Hahaha good one Yew Khim
Ho Jia Xuan
Ho Jia Xuan
Level 3. Wonderkid
Updated on 07 Jun 2019

In 2019, I want to

  • Make money doing what I love
  • Give money by donating
  • Read up some financial books
  • Track my budget for expenses
  • Plan for future tradings, fixed deposits to earn some profits

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Leong Wen Fong
Leong Wen Fong

19 Dec 2018

What do you love doing?
Loh Tat Tian
Loh Tat Tian

01 Jan 2019

Interesting. Trading :)
Gabriel Tham
Gabriel Tham, Kenichi Tag Team Member at Tag Team
Level 8. Wizard
Updated on 07 Jun 2019

I want to go premier banking so can drink free wine

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Leong Wen Fong
Leong Wen Fong

19 Dec 2018

Invite me also pls
HC Tang
HC Tang

19 Dec 2018

Ask Kenichi to bring u! :) hhaa

Financial/Personal Resolutions for 2019:

  1. Invest in Blue Chip Stocks by monitoring market movement. Not sure if the next economic crisis is coming. Given that 1997 Asian Financial Crisis and 2008 Great Recession were roughly 10 years apart, I wonder if it's coming soon! Need to research more on this.
  2. Make $100,000 for the year 2019 through acquiring more clients in my Digital Marketing Agency
  3. Provide more free financial advice on Seedly platform whenever I have the time.
  4. Work out at the gym and get that sick body to impress the wife. Teehee.

Cheers.

Enjoy your Christmas and Happy New Year

2 comments

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HC Tang
HC Tang

19 Dec 2018

#4 is hahahahaha
Jim Ng
Jim Ng

19 Dec 2018

It is important leh! HAHAHA
Gloria Neo
Gloria Neo
Level 3. Wonderkid
Updated on 07 Jun 2019

I have only just started my investment journey this year, after attending my first SGX talk just months ago. So going forward into 2019, I am hoping to be a little more daring when making my first investments. I am also excited to attend more investment talks and learn more from the insightful articles on seedly XD

1 comment

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Kenneth Lou
Kenneth Lou

19 Dec 2018

Solid!! haha That's really good :) Keep going and learning along the way.
Victoria Er
Victoria Er
Level 3. Wonderkid
Updated on 07 Jun 2019

Save and invest 50% of my take home salary!

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Kenneth Lou
Kenneth Lou

19 Dec 2018

This is a good one! very achievable also :) go go go! Especially if you are only starting out now :)
Aaron Lim
Aaron Lim
Level 3. Wonderkid
Updated on 07 Jun 2019

Firstly My 2019 personal finance resolution would be that to get a better paying job, able to save more than what i saved this year and lastly is to invest my money somewhere to make it grow!

Secondly is to travel to taiwan and japan as i'm dying to go there on top of that lose some weight!

Lastly is to learn more about finance management and help people around me to have the habit of savings!

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Pascal Samsoon
Pascal Samsoon

23 Dec 2018

#weightcontrol you are the second guy who commented looking to lose some weight. Haha. Should form a group for that. Lol
Tanyingfang Janice
Tanyingfang Janice
Level 3. Wonderkid
Updated on 07 Jun 2019

My 2019 financial resolutions are:

1) To commit to no spend days

2) To cut away subcriptions from Netflix and Spotify

3) Maintain or increase my savings

4) Broaden my source of wealth

😊💪🏻🤑

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Daniel Lee
Daniel Lee

19 Dec 2018

Alternatively, you could look at getting the family plan for both and then share the costs with a couple of friends! It'll cost you cheaper per month for the subscription. That way, you don't have to kill the subscriptions!
Tanyingfang Janice
Tanyingfang Janice

19 Dec 2018

Heh oki! Thanks for the suggestions :)
Sheryl Koh
Sheryl Koh
Level 3. Wonderkid
Updated on 07 Jun 2019

Gotten some inspiration online & my specially picked ones are :

  1. Taking the challenge to have some “No Spend Days” in the month! Something new

  2. Tracking my budget more consistently

  3. Cutting bad habits to reduce overall expenses (e.g eating at restaurants less often, avoiding temptation to have desserts all the time after a full meal)

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Kenneth Lou
Kenneth Lou

19 Dec 2018

“No Spend Days” are intense! Maybe we should also try that hahaha. For your budget part, we hope we can be part of you in that journey :)
ChiChing Wan
ChiChing Wan
Level 3. Wonderkid
Updated on 07 Jun 2019

My 2019 Personal Finance Resolution is to 1. find a better job with better work life balance and prefarably higher pay, and 2. save as much as i can for BTO

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Loh Tat Tian
Loh Tat Tian

01 Jan 2019

My view personally is, if you can beat the 2.6% of HDB loan, it's good to drag out the loan. There are some strategies which some community members have shared. They max out basic healthcare Sum and CPF SA for interest to overflow to CPF OA. This works if you are a decently high income earner.
Priscilla Long
Priscilla Long
Level 3. Wonderkid
Updated on 07 Jun 2019

For my pf resolution, I aim to further challenge myself to learn more on investment by doing more reading and attending courses next year! Seedly had been my go-to place for reading as a beginner. ◡̈

1 comment

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Kenneth Lou
Kenneth Lou

19 Dec 2018

Solid!! Haha hope we can continue with you on that journey beyond your beginner and intermediate stages :)
Nicolas Leung Jun Wei
Nicolas Leung Jun Wei
Level 3. Wonderkid
Updated on 07 Jun 2019

My Personal Financial Resolutions for 2019:

  1. Increase my revenue instake as a student, via giving more tuition, taking up internships and part time roles.
  2. Reduce my expenses as a student, emaning eating cheaper meals, less partying, stay away from having a girlfriend.
  3. Stay focus on goals on goals above for now.

Cheers

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Loh Tat Tian
Loh Tat Tian

01 Jan 2019

Stay away from having a girlfriend? You might miss out on future partner. Your wife will work with you on personal finance. It shouldn't be costing you much by having a girlfriend if she's wife material.
Guan Winson
Guan Winson
Level 3. Wonderkid
Updated on 07 Jun 2019

2019 is a brand new year. In the coming year, I will try to polish my knowledge in financing either in saving or investing. I will stick to my plan towards financial freedom. In such a challenging years I ll try to accumulate more value stocks in my basket, involve some p2p crowdfunding to boost the earning. I will also cut some bad habit which which is wasting time and money. In this year I learnt a lesson, do not be hurry, just step by step towards financial freedom. The more eager you are, you might lose much more than you expected

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Kenneth Lou
Kenneth Lou

19 Dec 2018

Starting and taking the first step is always good!
Loh Tat Tian
Loh Tat Tian

01 Jan 2019

I like your comments on slow and steady. I was actively reading up investopedia for at least 10 years. And only started investing recently.
John Khaw
John Khaw
Level 3. Wonderkid
Updated on 07 Jun 2019

In 2019:

  • Ride out the volatility in the stock market now (and have the cojones to watch it nosedive)
  • Invest in REITs, slow but steady stream of income
  • Hold out for 2020 before buying any new phones (wait for 5G!)
  • Do the usual, save wisely.
  • Make a dent in the universe.

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Leong Wen Fong
Leong Wen Fong

19 Dec 2018

hmm... 5G... hope the speed is really there!
Rslyne Lim
Rslyne Lim, On Site Coordinator at VWR
Level 2. Rookie
Answered on 19 Dec 2018

My personal finance resolutions would be to try to increase the percentage that I save from my salary, track my expenditure more diligently and cut down on where I can and to learn & finally do some investments!!

And finally like everyone else, to lose weight hahahahaha. :D

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Tay Boon Siang
Tay Boon Siang
Level 3. Wonderkid
Answered on 19 Dec 2018

Personal finance resolution for 2019 is to start turning in a tidy profit on all my investments. 2018 has been a year of consolidating my messy investments and throwing them into eTFs

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Chen Zhirong
Chen Zhirong
Level 4. Prodigy
Updated on 07 Jun 2019

Wow I was just planning this last night. For about 35k, including bonus, this was how I planned.

Firstly, TREAT YOSELF. Gave myself a budget of about 5k for holidays and entertainment. Planning to catch the Aladdin and Matilda musical next year! Plus visit North Korea.

Then, "business expenses" read one or two new cameras. I would really like the Fuji XT3 and maybe the 50-140mm. Or maybe get more Canons and get the 11-24mm? Need some LED lights too. Probably 5k for the lot though I might exceed.

With the remaining 25k, I plan to put 15k into SRS and invest either in an annuity or stocks, depending on the market. 7k into CPF SA. 7k in my parents' OA. And keep the remaining 1k as buffer or maybe to donate?

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HC Tang
HC Tang

19 Dec 2018

Good son :)
Chen Zhirong
Chen Zhirong

19 Dec 2018

^_^
Beverly Ng
Beverly Ng
Level 3. Wonderkid
Updated on 07 Jun 2019

In the past, my approach towards "saving" money is cutting down unneccessary expenses (e.g. reduce dining out with friends, cut down on facials, try to avoid taking Grab/taxi as much as possible). Though these are good saving habits, but certaintly unsustainable in a long run as this affects the quality of my life.

In 2019, I will start to take advantage of credit card promotions or/and make dining reservation through Eatigo app to enjoy more savings without compromising meet-up with friends. When booking hotel for overseas trip, I will also book through Shopback to enjoy greater cashback savings.

I will also look forward to read more on investment strategies to know how I can grow my wealth.

Overall, I hope to improve my personal financial knowledge to acheive financial freedom for myself.

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Leong Wen Fong
Leong Wen Fong

19 Dec 2018

That's very specific!
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