Skip to main content

My Financial Goals

I have been without financial goals for most of my life up until 7 months ago. I began tracking my expenses on Excel and keeping a record. I also made it a point to read posts from bloggers and the Invest section of the Sunday Times regularly. 

The idea of indexing and passive income was something new and I am glad it came into my life now. All this reading have helped me along the way to better understand the need to save and set financial goals for myself. 

So what will be my financial goals be for the short to long term haul? 

Emergency Chest (Long-term)

The SAF is a good employer, providing an iron rice bowl for at least my 2 years of National Service. So during this period where I am serving, I aim to save as much as possible. I am fortunate because my parents still give me an allowance, therefore I am able to save more. After National Service, it is pretty much on my own if I'm heading out to find a job. 

Goal: $10,000. Save $250 per month on top of existing savings allocated to this. I do not want to add in more savings for now as that will be absolutely the emergency of the emergency.  

Based on a projected individual expense of $2,000 per month in the worst-case scenario, I should be able to last for 5 months with that money. I still feel that $10,000 is not enough and I am looking into $12,000. 

ORD Trip (Short-term)

Image from

I would love to go for a pretty far place probably after I ORD with some friends. Japan, the land of the rising sun is on the list. Iceland is on the list too for an epic road trip though it is a far shot. 

Perhaps, going to Taiwan for the third time to explore the whole island! Or that white sand beaches of Fiji sipping on a cocktail by the beach. Ahhh. 

Goal: $3,000. Save $150 per month. 

Now if I go to Japan, it will be expensive. I probably don't even need to mention Iceland as the air tickets are already extremely pricey. How will I be able to save more for my emergency chest? 

POSB Invest-Saver (Medium-term)

This will be my mini passive income project! I started this regular savings plan two months into army. Therefore, I will have invested at least $2200 by my ORD date.  

Goal: $2,200. Assuming a purchase of 33 shares every month to be simple, and dividends based on $0.0491, I should receive $70 in dividends annually if I stop accumulating the shares. 

If I do go to university full-time, then I will have to stop this plan. I believe the only option of selling all the share is a good psychological measure. 

I am looking into diversifying with the ABF Singapore Bond ETF, with an 80-20 allocation. 

Investment Warchest (Medium-term)

It's difficult to stay the course, especially when I've only experienced a short period of fall in prices and then seeing the recent rally. There is an urge to put in more every month into my mini passive income project but it will not meet my need to diversify. This war chest is also my education chest. I drew upon it recently, around $400, to pay for learning Japanese on my weekend. 

Goal: $1520. Save $80 per month. 

This is sitting around in cash, at 1% p.a, the highest I can get now. 

Education (Long-term)

Investment books summarise the lifelong knowledge and experiences of the authors. The books A Random Walk Down Wall Street and The Intelligent Investor were good book choices I made. On the search for other good books! I didn't set aside any cash for books itself, but I have allocated a bigger sum to 'Others' in my spending. 

Insurance (Long-term)

Cannot ignore insurance! It includes a hospitalization plan, accident and term/life insurance. I'm reviewing the plans that my parents bought when I was young. 

I don't know if I am going to be rich, but I want to be rich in my knowledge at least for now. Sidenote, I can't wait for the GST voucher of $500 which I hope I qualify! After receiving it once last year, it's nice to receive it again. A under-25 SkillsFuture of some sort to offset my 'investment' into learning Japanese! 

Till next time, 
Arigatou gozaimasu! 
Mr K. 


  1. All the best Mr K!

    I too believe in the power of a compounded knowledge! Keep learning and growing! The money will come along the way!

  2. Good luck. Try and keep your SAF term insurance, I regret not keeping mine. And ST invest is for entertainment only. The "advice is appalling.

    1. Hi Serendib!

      May I know what made you not keep your SAF term insurance?

      Hahah, I think some success stories in ST invest here and there keeps me inspired.

  3. I am glad to hear that you have decided to keep your insurance. This is extremely crucial to have because we never quite know where life takes us. If you were to become sick or injured, you will certainly be glad that you made the decision that you did! Good luck to you on saving for your road trip!

    Clayton Smith @ Blue Line Planning


Post a Comment

Popular posts from this blog

Dividend Income and Portfolio Update - June


CapitaLand Mall Trust: $27.80
Total dividends so far in 2018: $180.05 Average dividends per month: $15.00
Current Portfolio

Stock Shares Current Market Value (Based on closing prices on 5/6/18) Total Paper   Return(dividends and capital gains/losses)  CapitaLand Mall Trust 1000 $2090.00  +$184.67 CDL Hospitality Trusts 800 $1344.00 +$327.06 Singtel 600 $1968.00 -$207.20 Nikko AM STI ETF 686 $2442.02 +$452.20

My portfolio at 23 years old

It has been a little over 2 years ago that I started reading into stocks and bought a few stocks. As a university student now, I lack the financial capital as before and priorities are now different. As such, I don't find myself trying to read as much as before, but I'm glad the habit of reading the posts on has stuck with me. 

So these are my current stocks: 

Stock Shares Current Market Value  (19/10/2017)  Return (dividends and capital gains/loss)  CDL Hospitality Trusts 800 $1296.00 +$255.30  CapitaMall Trust 400 $820.00 +$75.44 Singtel 600 $2250.00 +$26.00 Nikko AM STI ETF

Value-for-money: Kinokuniya or Booksdepository

Meet Kinokuniya and Books Depository. 

The former has physical brick-and-mortar and online stores while the latter is solely an online retailer. 
For all the book lovers out there, I am sure these are some of the places we go in order to satisfy our book cravings. Kinokuniya was where I picked up my first book on investing. I summarised some of my thoughts on that book here. Since then, I have bought at least 6 other books on investment and other genres that cost at least $200 in total from Kinokuniya. 
Book lovers should also know that Kinokuniya is not the cheapest for pricing. I came to know Books Depository recently, and boy is there a huge difference in price. 
Let's compare an investment book, say Common Stocks and Uncommon Profits and Other Writings. 

On Books Depository: $18.56, original price: $30.03 

On Kinokuniya: $37.40, member's price: $33.66 

If we are to compare prices only, then we have a clear winner here. Kinokuniya is still more expensive than Books Depository, eve…