Saturday, 31 December 2016

Reflection: Dividends collection for 2016

This is my third year into investing. My goal for 2016 was to achieve $16,000 in dividends.  I have achieved my goal and the total dividends collected in 2016 was $18,248. I have achieved Year-on-Year dividend growth from $4930 in 2014, $14,128 in 2015 to $18,248 in 2016.

 I am very happy with my investment portfolio because i was a total risk averse person back in 2013 and followed my parents' low risk investment by putting money into Fixed deposit and earn a small sum of interest. I also followed blindly to my insurance adviser to buy endowment policies. Things started to change in late 2013 as i started to realise that i need to make my money to work harder for retirement.

As a newbie, i brought investment books from second hands book dealer in US and library investment and also read local financial blogs.  I  became very interested in financial news in US and Singapore and attended investment courses.

Over the last 3 years, i've save more of my pay and bonus and stay invested in Stocks and Reits. I have also opened a SRS account as an investment and tax reduction tool. The strategy for SRS is to transfer the funds the dividends that i collected from my Reits and stocks into the SRS and use the SRS fund to buy reits, which earn a higher dividend yield. I read a blog by a local blogger AK and followed his strategy to transfer my OA funds into SA to earn a higher interest. My strategy is working well towards building passive income for retirement and supporting my family. I will share in my next blog post on my CPF returns.

I hope that my blog will inspire newbies to start investing and plan for retirement.

Wishing everyone a blessed and prosperous New Year. Huat Ah.


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