I worked not this year, and here's my income for the first 3 quarters of 2023:
My income comes from 3 sources:
- Interest income from T bills,
- Interest income from bonds (which includes Singapore Saving bonds and other retail bonds), and
- Dividends (mainly from STI ETFs, with some other stocks).
This year was an improvement from last year's income (read here), not because of what I've done this year, but from what I've done last year - delayed gratification. Even more delayed gratification, was from the saving I accumulated since I started working. Grateful to myself for having few material desires.
If $2000 is the minimum survival sum, I probably survived 62.5% of the time. If I average out the 8 months, I met the minimum survival sum on a monthly basis. My goal for this year is to hit $24,000 passive income, and with 66.7% of the year passed, I'm 70% there.
June has been the best month to date, and as you can see, it's contributed mainly through interest income from bonds. This interest income came from Astrea IV bonds. However, this is unlikely to be repeated 6 months later in December, due to the redemption of the Astrea IV bonds. It was an oversight on my part, not to notice that the bond could be redeemed in June this year, but it also gave me liquidity for other purposes. With this redemption, my goal of $24,000 is likely to fall short, and I tried to plug the gap by buying T bills in June and July. Anyway, I also had the liquidity due the redemption of Astrea IV bonds. I've also replaced some of the redeemed bonds with other bonds to plug the gap, and if things goes as they should, I should meet this year's target.
With that, I'm planning for the next year. I am in the process of coming up with a number to work towards.
Last year, I managed $18,000, and this year I am working towards $24,000. Going at this rate, next year's passive income goal should be $30,000. Obvious ways to earn that extra $6000, will involve either earning more returns, or putting more cash down, or a combination of both. Million dollar question - how. LOL
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