5 Year Plan
Looking back on the list that I created in 2014, seems like I have achieved 3 out of 4, seems pretty good, time to set new ones. I think to set goal such as "to save X amount" or to "to invest X amount" is kind of meaningless, so this time I am going to set more meaningful goals.
1. To apply BTO or to apply SOB
Just need to wait until May 2019 then can apply.
2. To own my second property
In SG not possible with only my income, so I can only aim for other countries, so far Phuket seems to be a nice place to buy. But this can happen only after I get my BTO/SOB, my thinking is that the BTO/SOB in future can fully rent out, then just relax in Phuket and live off the rental.
5 Year Plan from 2014
1. To have a baby by 2015 (Achieved on 20 May 2015)
Me and my wife plan to try to have a baby again on Apr 2014, if all goes well, she will probably deliver in 2015, I just hope this time nothing bad happen again. 06/02/2015: wife is pregnant now! Due date Jun 2015.
24/07/2015: Thankfully my wife delivered a beautiful baby on 20 May 2015, this baby really brought me luck, I got a promotion soon after!
2. To invest S$50000 in stocks by 2017 (Sigh, still long way to go...)
Currently I have invested S$12466.98, it's much more than the initially planned amount of S$10000, furthermore I was paying S$268 every month for my study loan and now that I've fully paid up, I think I can invest more, so this target is very realistic. 06/02/2015: I think after baby deliver then assess again, it's going to be costly.
24/07/2015: Ended up the delivery costs weren't as expensive as I thought, thankfully baby was born healthy other than her hole in heart, it is not a critical condition, if we are lucky it may even close by itself. Now is the time to start saving up and invest.
3. To achieve S$4000 basic salary by 2018 (Achieved on Jul 2015)
I'm currently getting S$3480, if my company can continue to increase by salary by 5% for the next 3 years, I can hit this target, but it's really hard to say, but I think by 2018 should be achievable. Just to clarify, $4000 is exclusive of bonus. 06/02/2015: Now salary is $3944, I think this year can increase to over $4000, hope so.
24/07/2015: I got a promotion, salary is now $4500, way more than expected, I believe my wife and baby brought me success.
4. To have my own home by 2018 (Achieved on 26 May 2014)
If my wife can deliver in 2015, we'll apply for BTO, I just hope my mom can be more understanding, if really no choice I will probably get my own home, but that will ruin my financial plans, getting a resale flat is definitely the last resort. Update: Hahaha, I ended up getting a resale flat, sigh, at least I can strike off one goal soon. Yep, now the owner of a 2-room resale flat ;)
|More trying, less hoping|