Just not too long ago I was jogging past some condo along the outskirts of Woodlands. A thought came to my mind.
"How do these people afford a condo???"
That set me thinking. Yea, how ah?
After my run, I immediately started searching online on condos. Different locations. Different sizes. Different pricing. And then, some rough calculations struck me; perhaps, If I work hard enough and gave myself enough time, would I be able to afford a condo?
...
...
Challenge accepted.
Next day I started some planning. Drafted out an excel spreadsheet listing down a few asset sources:
- Liquid Cash
- CPF
- Insurance Saving Plan
- My current property price appreciation
- Portfolio
And I gave myself a target. 10 years. Not too long, not too short. 10 years could make a lot of difference considering how much I have achieved over the past 10 years.
I'm going to start my 10-year plan from Jan 2022 onwards. This last couple of months are more of a prep / buffer phase; To give myself as much a headstart into the 10-year plan as possible.
I shall update my financial status here every now and then; to remind myself how much I have progressed, plus give me that motivation to keep on track. It is definitely not easy, compared to some of my peers who already got themselves a condo just a few years into their career. I did not have that luxury, having graduated with poor grades, no savings, plus I landed myself onto heavy responsibilities early. Now, since my financial status has sort of stabilised, I should give myself a chance to make it big in my 40s, like what most ppl my age group will be in a decade's time.
First; I will only update about my stock portfolio here. Considering that this is the only component that I have the most control over. CPF just wait for money to come in, Property value is dependent on market conditions and either way I can't do anything about it, my insurance saving plan is waiting to mature and well cash? Sorry I prefer to dump them all into stocks except for leaving a few thousands for rainy days.
Second, I wanted to report my portfolio value minimally as at the time of blogging. Dividends are probably a optional if there is good news or if I remember.
Third, I will also like to share some sentiments about the market conditions and my strategy, so I can refer back to these "notes" for planning.
Fourth, I will give a progress (in percentage) of my total target for stock portfolio. I must say, it is a very steep climb from the value I have now. On top of pumping in funds into my portfolio and looking for value stocks, I may also need to learn some "speculative" trading. To do that, I need to buff up my warchest. The amount now is real pathetic.
I try not to be shy hahah, well I know no one's reading it but maybe some hacker who come across and see this faggot growing money somewhere may set their attention on me. hmm. I need to be careful if that happens. Hopefully not.
Signing off! looking forward to my first update on this financial journey, SOON!
---------------- ----------------- ------------------
PS:
I just came across what I wrote 8 years ago:
https://poiuytrewq-lkjhgfdsa-mnbvcxz.blogspot.com/2013/10/the-next-boom-2030s.html
OMG How did I even revive that thinking after 8 years without knowing it? What sorcery is this!?