Q2 2020 – Mid Year Review

As we are in July, it would be good to take some time to pause and assess whether our personal finance goals are on track.

Goal 1: Net worth to exceed S$150,000

Goal achieved. Notwithstanding Covid-19 which has obviously impacted the overall market, I achieved this goal 6 months ahead of schedule primarily due to 3 factors. Firstly, as I am working from home and am still living with my parents, my savings rate for the first half of the year has been higher than usual. Secondly, my portfolio has more or less recovered from losses due to Covid-19, as I am not primarily exposed to the more sensitive sectors such as retail, hospitality and commodities. Lastly, I bought some shares in Tesla in June 2020. The positive news on Q2 2020 data had caused a jump in its share price which boosted my portfolio.

Goal 2: Dividend income to be S$4,500

Not on track to achieve this goal. Based on StocksCafe, I expect to receive ~$3,200 in dividends this year. This is because I have not added any shares in my dividends stocks such as Keppel DC REIT and ParkwayLife REIT. Due to Covid-19, it makes more sense to focus on growth / disruptive stocks rather than chasing dividends and yield.

Goal 3: Expenses to be S$20,000

On track to achieve this goal. As mentioned above, my savings rate has been higher than usual due to Covid-19. Full year expenses are projected to be S$13,000, assuming Phase 2 continues for the rest of the year. This is largely due to having a simpler lifestyle and not having any overseas travel plans.

In a blink of an eye, 6 months of 2020 have come and gone. I hope everyone has been doing well thus far! Sincere apologies for not posting regularly, as my work has been piling even with Covid-19. In fact, working from home feels like a chore now as there is no clear separation between personal and work life. I am learning how to unplug and get away from my laptop once the day is done.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s