Friday, October 2, 2015

Starting Off a New Start

Hi Everyone!

It's been a long time since I have write any post here. The reason is because of my busy schedule and a change of a new working environment. Yes, I have change my job.

So now I have some spare time to write some post which will write down my progress for investing.

As stated on the right side of the blog, the total passive income that I have earned this year (until September) is more than $2000!

This is certainly amazing and still got three months left. The leftover passive income that I can look forward for is 3 months of interest by OCBC 360 and SGX dividends, which provides the estimate of around $250++.

This year is a starting year so there is still a long way to go. Next year is a brand new year, which I aim to get around $2400 passive income which gives me around $200 per month extra!

Now, there is a twist in this scenario for next month whereby I have enough funds to move my money from OCBC to UOB account one. So the reason why I would do that? Let me do a calculation for you

Lets say if I have $60000 in my ocbc 360 account and I shift $51000 to UOB account which left 9000 in ocbc account.

Action need to be done -> Salary and bills to OCBC, credit card and bills to UOB.

$51000 -> $1216 per year
$9000 -> $153 per year

Total $1369 per year

However, if we put all in ocbc account

Action need to be done salary, credit card and bills to OCBC

$60000-> $1320

So you can see the difference, $49 more per year. But certainly, if you have more income coming it will be better to have two account (total up to $11000 earning safe interest)

With the month income just from this itself is around $114 per month. Which is quite good for me, extra $114 per month which is good, not including my dividends.

So next year, I am to get $200 per month for my passive income and also my target cash saving for next year before December would be $80000 to $85000.

So I have around $20000 more to go before I hit that target and we do a simple calculation, it would mean $1667 per month in order to hit this target.

That's my update. Do check out my updates next week as I promise, I will do a write up every month to keep my reader update about my status.


  1. Hi James,

    Congrats on surpassing your 2015 goal. And a new job means higher pay, so for a higher target next year.


  2. Hi PIF,

    Thank you, yup higher goal next year! but need to take one step at a time. Hope can achieve much much more than what I can achieve now :)