Goal

Personal Goals!

I have several personal goals that I wanted to achieve before I hit 45 years old. Just a brief background, I just worked for less than a year and I am in the Information Technology sector, thus, I have very minimal clue when it comes to finance and building up my own savings not to say passive income.

I spend some time to plan my route map for 30 years, and I hope to achieve a reasonable amount of passive income and have the capability to build my own home (family).

I started work last year, thus, I will start laying down my route map at 30 years old as the starting point. My first starting point will be at 30 years old.

Updated: 02/01/2019

Before 30 years old expenses

• Wedding Expenses: $30,000
• Furniture: $6,000
• Condo Down Payment: $150,000
• Salary: $4,000

30 years old (23rd December 2018)  

• Salary of SGD$4500 and above 
• OCBC/UOB Savings of SGD$30000
• Stocks: SGD$5000
• SSG Bond: $5000
• Joint Saving Account: SGD$4900 ($100 per month)
• Children Saving Account: SGD$200 ($100 per month)
• CPF: SGD$22,000
• Total Passive Income: SGD$800 per year (Inclusive of CPF Ordinary Account Interest)

Actual Status

• Salary of SGD$4500 and above  (HIT)
• OCBC/UOB Savings of SGD$30000 (Did not hit)
• Stocks: SGD$5000 (HIT)
• SSG Bond: $5000 (HIT)
• Joint Saving Account: SGD$4900 ($100 per month) (Did not hit)
• Children Saving Account: SGD$200 ($100 per month) (Did not hit)
• CPF: SGD$22,000 (HIT)
• Total Passive Income: SGD$800 per year (Inclusive of CPF Ordinary Account Interest) (Did not hit)

35 years old (23rd December 2023)

• Salary of SGD$6000 and above 
• OCBC/UOB Savings of SGD$110,000
• Stocks: SGD$30,000
• SSG Bond: $20,000
• Joint Saving Account: SGD$10,900 ($100 per month)
• Children Saving Account: SGD$6200 ($100 per month)
• CPF: SGD$20,000
• Total Passive Income: SGD$3,500 per year

40 years old (23rd December 2028)

• Salary of SGD$7300 and above 
• OCBC/UOB Savings of SGD$110,000
• Fixed Deposit: $100,000
• Stocks: SGD$100,000
• SSG Bond: $30,000
• Joint Saving Account: SGD$49,900 ($150 per month + add in monthly savings)
• Children Saving Account: SGD$15,200 ($150 per month)
• CPF: SGD$45,000
• Wife purchase another condo for investment.
• Total Passive Income: SGD$10,000 per year

45 years old (23rd December 2028)

• Salary of SGD$8000 and above 
• OCBC/UOB Savings of SGD$110,000
• Stocks: SGD$250,000
• SSG Bond: SGD$20,000
• Joint Saving Account: SGD$50,000
• Property Saving Account: $90,000 (For payment for condo)
• Children Saving Account: SGD$50,000 - For Education
• Children Saving Account 2: SGD$30,000 - For Personal Saving
• CPF: SGD$8,000 - due to paying condo interest
• Wife condo renting: $2.5K per month
• Total Passive Income: SGD$34,860 per year

50 years old (23rd December 2033) - wife retired

• Salary of SGD$8200 and above 
• OCBC/UOB Savings of SGD$110,000
• Stocks: SGD$350,000
• SSG Bond: SGD$50,000
• Joint Saving Account: SGD$50,000
• Property Saving Account: $490,000 (For payment for condo)
• Children Saving Account: SGD$50,000 - For Education
• Children Saving Account 2: SGD$50,000 - For Personal Saving
• CPF: SGD$8,000 - due to paying condo interest
• Wife condo renting: $2.5K per month
• Total Passive Income: SGD$40,000 per year

55 years old (23rd December 2033)

• Salary of SGD$8200 and above 
• OCBC/UOB Savings of SGD$110000
• Stocks: SGD$150000
• SSG Bond: SGD$100,000
• Joint Saving Account: SGD$150,000
• FD: $150,000
• Property Saving Account: $290,000 (For payment for condo) - purchase one bedroom condo (Full payment)
• Children Saving Account 2: SGD$80,000 - For Personal Saving
• CPF: SGD$8,000 - due to paying condo interest
• Two condos: $4K per month
• Total Passive Income: SGD$63,000 per year

60 years old (23rd December 2033) - retire at the age of 60 years old, after I collect my last bonus

• Salary of SGD$8300 and above 
• OCBC/UOB Savings of SGD$110000
• Stocks: SGD$150000
• SSG Bond: SGD$100,000
• Joint Saving Account: SGD$150,000
• FD: $150,000
• Property Saving Account: $290,000 (For payment for condo) - full payment for wife's condo and purchase one bedroom retirement condo
• Children Saving Account 2: SGD$80,000 - For Personal Saving - release to children
• CPF: SGD$8,000 - due to paying condo interest
• Two condos renting: $5K per month
• Total Passive Income: SGD$80,000 per year

The passive income did not include my wife portion, so certainly we will have more than what I stated here right now.