Look Back To Plan Forward

Today, I thought to review my approach to financial sufficiency after going in circles since my 20s.

My journey began around national service period with stocks and insurance being the preferred ways of investment. Saving in the bank was something my mum strongly advocated and I picked up this mindset very early on. I did save quite a bit of money only to spend almost all in my higher education pursuit as I wanted to experience life in a different country. Over the years, things unraveled as life circumstances changed (get married, have children, buy car etc). Naturally, I was working, earning around $4500pm and the saving routine was re-established. It took a number of years to prepare a warchest. However, my investment at that time was very haphazard and focused only on Singapore stocks. I tried various stocks, never mind growth or value, big or small cap, with or without CPF. It was part trading, part holding for the longer term and the overall value never got above $40000 as I preferred saving more and life expenses increased. Now looking back, it's a mistake as I wasn't making much headway. My investment path was narrow and much of my money was in the bank earning fixed deposit rates. I thought I knew but the result spoke for itself.

It was only in recent years that I read more from others' experience and received advice on building a retirement portfolio. Today, CPF is a big part of my net worth, I have a house to stay, enough emergency funds to last at least 10 months, my family's insurance coverage is adequate and I'm excited to be on the next investment mile. This include stocks, options, bonds, T-bills, cryptos, foreign currencies... a much wider selection than what my younger self had. The main concern, at the end of the day, is to ensure a comfortable retirement. Where I'm short now is the area of recurring income. What I gather from other views suggest having property rental, Reit dividend, blue chip portfolio, setting up a side business or annuity plans. While I don't have the means to pursue everything at the same time, I'm inclined to focus on building up a Reit portfolio. Perhaps even diversify by spreading out the funds. Time to clean up the remnants of the past and start anew. There is still much investment work left to be done.

Tip: Chateau Musar 1998, orange peel, herbaceous light body and opened up to floral bouquet