Finance Investment Movement 72

There wasn't anything fancy happening the past month, just riding the wave of stock market uptrend and saving up. That helped the portfolio target to improve to this year's high of 5.3%, securing a base to enable a final push towards the coveted 8% or more if possible. While I was thinking whether to add any position, a message came through from SCB with an offer of low interest loan. For the first year, the interest rate was around 1.5% subject to conditions, which I thought was good enough to do a trial. Basically, it's taking on debt leverage to invest into a low risk bond unit trust and hopefully gain from the dividend payout. I went ahead, chose the PIMCO GIS fund and will monitor the next few months on the calculated interest amounts. If this arbitrage doesn't work, there is no penalty for cancelling the loan. Besides, this enabled me to hit the tasks on Bonus Saver account which gives additional 1.5% interest earned.

Dividends as of July 2026: $5734.63 (avg $819.23 per month)

Tip: Sakunohana Daiginjo, fruity notes on a medium dry body, whiff of pine and grass, a crisp beauty

Finance Investment Movement 71

There was satisfaction in the half year update of my portfolio. For investments, it's been flat, taking into account gains for Singapore equities that was negated by a mark to market loss of a Silver position. I'm using options premium to try cover some losses while waiting for a price to dispose. Good thing is dividends grew alongside savings. A mini milestone was achieved after four years of accumulation; the SSB allocation has now reached its limit so I'm thinking to start the same for my wife. While I continue to utilize T-bills for idle cash, some amounts were used to do VHR. That resulted in 50% CPF contribution increase, as compared to the same period last year. The Aud holdings also went up, partly to lock in favourable exchange rate, partly to qualify for higher tier interest earning. Cryptos declined badly, by about 40% as compared to January last year but the consolation is full amount constitute less than 1% of the portfolio. Now that the needle of the annual target has reached 4.5%, it looks possible to achieve full year 8% growth. I intend to keep expenses under tight control, buff up the war chest and explore global market instruments. The strategy is to wait for a stock market sale but in the meantime, collect steady income and keep things humming along.

Dividends as of June 2026: $5300.52 (avg $883.42 per month)

Tip: Domaine du Tariquet Sauvignon 2024, straight up, a little lime and acidity, delightful afternoon drink

Finance Investment Movement 70

It was no shock to see the portfolio target drop to 2.9% as full payment was made towards income tax and various insurance premiums. Besides crypto, all other areas did decently as stocks continued its upward momentum. I note as compared to this period last year, my dividend income rose by 5%. Good but it's a bit too slow and need an acceleration booster. My bonus just arrived, now waiting to be deployed.

What is the most important financial advice you have heard? Some would be concerned with risk management, savings or simply to start in investments. All of them are valid but I hold one particularly close i.e keeping expenses below income. Because it's easy to understand but toughest to do. Typically, most people see an increasing income over a career span along with heavier spending. However, when it comes to stop work, they couldn't adjust their lifestyle accordingly. I have an uncle who was an electrician, supported his family of five on sole income and still stay in the second HDB bought. Now, his children are working and he just does the occasional Grab driving to pass time. Throughout the years, he's always maintained a cheerful outlook even though I know he's not a median earner. Then, there's another uncle who started off well, drove a continental car at an early age and enjoyed travelling. He was also the sole breadwinner for a family of four. Things caught up when business started to dwindle and eventually folded. From an apartment, his family moved into a HDB and now no longer owns a car. I witnessed this over the years and continue to observe today. Both uncles are similar in age, retired yet have distinctly different outcomes. One maintained a consistent pace while the other chose a YOLO path. Another interesting point about them is as far as I know, both didn't do any form of investments. Yet, it's clear whenever I speak to both my aunties, one feels light-hearted about life while the other has a perpetual stressed look. Hence, over a span of life's most productive years, the spending choice one make will leave its mark in the latter years.

Dividends as of May 2026: $4023.22 (avg $804.64 per month)

Tip: Sawanoi Junmai Daigingo, aromatic and slightly sweet, a good generalist

Finance Investment Movement 69

April was generally a flat month with slight increase in equity value. Most of the time, I was watching the markets for movements that could present a buying opportunity but none realized. My portfolio target moved up to 5% which I'm rather pleased with. Question now is, how to improve further without much investment option available and with seemingly high risk presently? I'm still not convinced this is a good time.

My car has six months till the COE expires. With the fee coming close to S$120k, is it better to renew or do away with it? I'm in a lose-lose situation. For work, I drive close to two hours a day due to the distance from my house and the need to meet external parties, clocking an average of 16000km per year. If I take public transport to work and after a trial, the time taken is two hours one way, assuming minimal waiting time. Theoretically, it would be better if I switch job to a nearer location but it's not a possible option at the moment. Therefore, should I pay for the convenience or perhaps go with private hire transport? It's a trade-off between cost and time. Such a headache which I'm sure quite a number of people have too. Maybe I will renew the COE for five years and see what happens.

Dividends as of April 2026: $2599.49 (avg $649.87 per month)

Tip: Night Emperor Tokubetsu Junmai, medium dry and soft edges, pair with grilled meats

Finance Investment Movement 68

As I tallied up the numbers for March, there was a sigh of relief. I knew my stock value would drop by a fair bit, recent expenses had gone up and there wasn't much interest income. So, the portfolio was somewhat saved by salary and CPF contributions. It improved to 4.7%, just past the halfway mark of my target. To feel worried or glad, that's hard to say.

Year after year, there just seems to be problem after problem. Surely, everyone feels increasing stress, in personal and corporate life. At least my situation is not so bad, there are many others suffering more. That's what I tell myself. Indeed, I could still afford certain luxuries, my consumption pattern has not changed much. My worry is more about the next few years. I think it's certain things will get worse from now till end of 2027. The global disruption of energy source will cause a restructure of supply chain, increase basic business costs and make livelihoods harder. Within each industry, further consolidation will result in concentration of influence wielded by few people. Actually, looking into history, hasn't that always been the case? The Chinese dynasties provide plentiful examples of dominant figures, followed by struggles and an eventual downfall. Or think about those glorious corporations in areas of film media, telecommunications, accounting etc that eventually folded. The repetition bears reminding. Will we see a similar event in the modern era? I have no doubts. An example is the Epstein case that could have set off fireworks but it's been suppressed. Meanwhile, here's what I'm hoping for; a more caring, gracious and helpful society. Unfortunately, in most people whom I interacted with, they're not bad, just feel insecure and being selfish is a kind of self defence. When that perpetuates onto voters who choose a country head, the scale magnifies and so we live in the present consequences. My response is to activate survival mode for two years. See whether years of financial preparation can stand on its feet.

Dividends as of March 2026: $2106.49 (avg $702.16 per month)

Tip: Domaine Des 3 Cellier Rouge 2023, forward young, grapey, vibrant nose and best now

Finance Investment Movement 67

The elephant in the room just got bigger. From one conflict to another, there's hardly space to breathe especially for a small place like Singapore. We are after all, a price taker, so any tremble in the global markets becomes pronounced that filters through our entire economy. The story has only just begun. For my portfolio's February performance, it increased to 3.8% even though stocks got hit. The silver lining came in the form of cash savings and improvement in Aud where I hold a fixed deposit. Further voluntary housing refund was made due to lack of investment options. Speaking of which, I'm eyeing some exposure to gold and maybe bank stocks if they got beaten down.

I made a bad mistake, an expensive one as well. Have you heard of the fat finger? I didn't press a number but instead selected a wrong option. When the Iran war erupted, I thought to sell a little bit of ST Engg so as to raise some funds for other potential purchases. Forgetting this was from the SRS account, on the Vickers app, I clicked the usual sell button which linked to the CDP account. In fact, it was not discovered until a review of my messages on the same day which indicated the confirmed sale. Realizing this, a buy was initiated to close this trade but the market was closing and didn't go through. Feeling anxious, the next morning, I promptly entered the order again. Who knew the market would rocket much higher and before I could react, it had gone way beyond my buy price. Therefore, there was no choice but to adjust the buy in price. I thought that was it, take the loss and move on. Yet, it's not the end of the episode. An email came through and basically read like this; because the first day (T) buy order was not executed on the same day, that sell position became a naked order and would be forced close by the stock exchange on settlement date (T+2) plus penalty fees. I quickly called the Vickers trade desk and after clarification, agreed to amend the initial order to transact on SRS account while also closing the additional buy order I did on day two (T+1). In total, I made a loss of about $800, including admin fees. Just like that, a month's worth of grocery expense was gone. This was a painful experience. It important to understand how the system works before making a trade.

Dividends as of February 2026: $1111.87 (avg $555.93 per month)

Tip: Reserve De La Comtesse 2014, matured dark chocolate, pine bark, wonderful nose, to drink now

Finance Investment Movement 66

It's nice to start off the year by checking the CPF interest income which as usual, did the heavy lifting in contributing to the 2.8% portfolio improvement target. In this new year, the hurdle to climb will be 8%, to reflect expediency towards my retirement plan. There were no slouchers as the STI rally shone through with ST Engg being the star in my small stock basket. Time in the market proved right which I fortunately did not waiver when prices were attractive for disposal. As things stand, I intend to initiate positions in new stocks with a $20000 budget but this would probably not be in near term due to high prices. Yet, with cryptos seemingly falling sharply, it's time once again to hold on to the seat belt.

Chinese New Year celebrations have started and my schedule already shows many upcoming dinners. In a couple of lunches with the seasonal menu, I noticed the prices hadn't changed from previous year. Reservations were surprisingly still available at last minute notice. This doesn't bode well for the festive period. I think it's a hard slog for the food and beverage sector. Not only are consumers and business owners paying more, the trends have shifted towards Chinese cuisine which seems to be a little over saturated. At this rate, we will lose heritage food and variety. Cost inflation basically killed the older and manual laborious food operators that I love. Even school canteens are becoming centralized!  Overall, while economists favor free market competition, I prefer more control to keep a balance in check. Please don't let the muah chee, kueh tutu, oyster cake, satay beehoon etc disappear. I'm willing to pay more. These are local delicacies that aren't replicated elsewhere and pray that day never comes. One Sichuan restaurant less won't impact much, doesn't it?

Dividends as of January 2026: $381.20 (avg $381.20 per month)

Tip: Choyofukumusume Junmai Gingo Summer, gentle crisp, young green grape, medium finish

Finance Investment Movement 65

I looked back on the January post last year (here) and reflected if peace was achieved. That's such a straightforward answer if we simply assess the conflict situations still happening around the world. The only thing I missed out was Venezuela, at least Trump didn't disappoint my view of him being the disruptor. The so called freedom defender chose to begin a new year with a bang and with it, brought the message that the US can and will step in to "resolve" issues, either the soft or hard way. Mr Rubio made it abundantly clear in the aftermath. For investors, the path has been cleared. The US may be broke but it does not appear as one or rather, it will not be. Why so? Through innovation, manipulation, sheer will or perhaps by force. Whichever method works, it doesn't matter. So long Trump is at the seat and not majorly opposed, public expectation for higher returns will power on and that in turn, will drive the trend upwards.

For myself, I'm more than satisfied with the progress made in 2025. The final tally is very close to 8% improvement in overall portfolio. It may not have beaten the S&P but I run my own race, at a pace that I'm comfortable with. In a year of falling interest rates, my equities and SRS were the best performers due to banks and Reits. However, I was let down by the fall in crypto, trading mistakes and inability to add positions. The most surprising statistic was that cash holdings (compared at start and end year) dropped slightly despite big expenditures on renovation and an illness that required specialist treatment.

The dividend income stream is growing although I sense great obstacles ahead. There's not much good yields to be found as the struggle to utilize idle cash is expected to continue. Stocks are overpriced in my opinion. The one constant is I will DCA into Pimco bond fund so as to build up its weight as a portfolio balancer. Over the last two months, I purchased Tbills and SSBs as a last resort. 

Dividends as of December 2025: $10092.74 (avg $841.00 per month)

Tip: Chateau Reysson 2023, purple flowers, young blueberries, to be drunk early

Finance Investment Movement 64

Approaching the last month of 2025, my portfolio performance remained comfortably at 7.5%, a consolidated position held up by positive stock momentum and additional CPF contribution. This was against a backdrop of 20% drop in crypto value. Things went pretty well in options trades when a period of AI volatility resulted in big swings and opportunities.

Recently, a colleague got into trouble with leverage, in a big way. He was making investments of a different kind, the likes of toto and soccer betting. While trying to recoup losses, he borrowed from banks via the credit card overdraft facility, then from family, friends, colleagues and finally, the dreaded Ah Long. In total, I estimate his debt to be 40 times monthly salary. Paying back became a problem but the matter got worse when the loan sharks sent their "greetings" at the office. That's when his cover was exposed. Never did we expect a mild mannered person like him to be in such a situation. His decade long service ended miserably with a dismissal. The gambling habit started about two years ago and descended into an abyss. As we spoke, he conceded it was his lack of control and ill discipline that ultimately led to this. This incident shook many people up. Even if we switch context and say it was a stock investment, the consequences could easily end up similar. Therefore, I'm reminded to invest prudently, within my limits through calm and steady actions.

Dividends as of November 2025: $8960.64.45 (avg $814.60 per month)

Tip: Terlan Pinot Bianco Tradition 2023, autumn crisp, grass and a little citrus

Finance Investment Movement 63

Things are looking good, the improvement target increased to 7.2% and provided motivation that it could really get better by year end. This month was helped by positive stock movements, especially across Reits. There was zero leftover cash saving as it went towards SRS contribution and CPF housing refund. I have one last Tbill due to mature and that's it. Good yields are getting harder to find so I have adopted a new approach, that is to wait. Yet exactly what am I waiting for? Here's where I breakdown the thought sequence and current status.

Following the truce of the Israel Hamas war, there's a good amount of congratulations among world leaders. Various trade summits were held and the statements put out were rather positive, with the caveat of challenges still remaining. Meanwhile, global stock markets hovered around new highs, oblivious to the trade policies being in disarray. Against all odds, there are companies reporting strong financials. The Ukraine Russia conflict felt almost like a side note. Gold and precious metals are on a bull run which to me, is not a sign of fear but reallocation away from the USD. In Singapore, it's especially amazing to read high prices paid for big ticket items. The feel good factor is real. Money can be spent freely because there's loads floating around. In this regard, I have assessed my situation and decided on a spending diet. As I continue to buy small amounts of bonds, any leftover saving is put on standby for a market correction. I hope it comes within the next year. Time to be a contrarian.

Dividends as of October 2025: $8299.45 (avg $829.94 per month)

Tip: Jjangsu Brewed Jeong, pleasant chinese herbs, easy quaff, distinct floral after taste

Finance Investment Movement 62

As we head into the last quarter of the year, there's positive momentum building where my overall portfolio climbed higher to 6.2%. This month gained in terms of cash savings where a portion went to SRS and another to CPF housing refund. Investments practically stayed still and the highlight was a decent amount of dividends received.

Throughout this year, I had been evaluating areas where I could control expenses. So I'm writing this down as a record for future recap.

1) No gym membership: exercise is free in the open areas

2) Lesser bubble tea: home brewed tea is easy to make and healthier too

3) Dental service: it's available at half the price in JB

4) Await promotions: most things can wait, patience rewards

5) Walk around to compare: fruits are expensive nowadays, the same apple can be a dollar cheaper.

6) DIY repairs: door lock, grouting, light transistor, parquet wood chip etc can be learnt online

7) Haircut: subjective but some barbers offer pretty good deals

8) Pickup deals: some apps give discounts for self service eg ice cream at petrol stations

9) Bar soap: lasts longer and cheaper

10) Probiotics: essential spending, clinic issued ones are overly priced

Dividends as of September 2025: $7976.55 (avg $886.30 per month)

Tip: Ryoko The Base Junmai Ginjo, balanced dryness, watermelon with a kick of mineral

Finance Investment Movement 61

It was nerve wrecking to tabulate August's report as there was red ink spilt across the stock portfolio. I took the pain of cutting a loss making counter and subscribed to Astrea 9 bonds. This big negative will serve as a lesson in my approach to stock picking although it's mainly a fault attributed to wrong position sizing. The sunshine after fortunately came in the form of a bumper dividend collection. Add a bit of savings and the year to date portfolio improvement target rose slightly to 5.3% which indicates fair resilience. With four months left, there's room to add more investment assets hopefully.

If you have to look at the market price everyday, then you are not investing but gambling. Someone told me this recently and I beg to differ. When I was young, the thrill was to buy/sell for quick gains. Many years later, the total estimated profit was nearly zero. That was a shocking realization. What happened? I bought winners as much as losers even though I was supremely convinced before the action. Now, my perspective has changed in that I won't go for a hyped stock or IPO and instead focus on big caps only, or at least the bulk of funds are there. This applies to various asset classes. Even though that meant potentially missing out on good opportunities, I just have to look at a short list everyday and decide quickly if something is worth doing. This frees up time and brain space. Most importantly, I want to sleep well without worries.

Dividends as of August 2025: $6871.61 (avg $858.90 per month)

Tip: Opus Overture 2021, young berry jam, medium clean palate, slight underweight

Finance Investment Movement 60

So my portfolio chugged along to barely eke above the target at 5.05%, helped by rising values in Singapore stocks and crypto. Renovation expense has been fully paid so the cash account feels a little light, giving a slight uneasy feeling although there's still enough room for an opportunistic snag. I have also found an interim solution for SRS funds doing nothing i.e it's now invested into Fullerton SGD Income Fund. The expectation is for a close to 4% steady dividend yield. Let's see what the performance is like after six months.

My company decided not to give an increment this year, citing uncertain economic forces. It's now consecutive years where the employees got their hopes dashed. What were they expecting? Admittedly, the signs were clear. Revenue fell, margins squeezed and decreased forward orders. Thus, there could have been less disappointment if employees were realistic. In my conversation with some colleagues, what worries most is that they do not have much savings. I was also surprised to hear many of them do not invest, even in a simpler product like T-bill. Yet, some consoled themselves, saying they looked forward to the next round of CDC vouchers. That gave me an uncomfortable feeling. Cost of living issues are persistent and becoming entrenched. We risk getting caught in an inflationary cost environment along with stagnant wages. This is turning out to be a tough year.

Dividends as of July 2025: $5346.01 (avg $763.71 per month)

Tip: Santa Maria Valpolicelia 2019, pinot like, blueberries, a light lunch companion

Finance Investment Movement 59

The portfolio is experiencing a big test of its resiliency at the half year mark. Markets had not been kind amid a growing unease and major battles occurring on the ground and online space. Something major appears to be gathering for a breakthrough but the question is whether it's going up or down. Investors are undecided. Hence, as the T-bill and SSB yields continued to decline, my cash hoard stayed idle while waiting for better investment opportunities. Little perks like credit card cashbacks and promotions also dried up as interest rates drift lower. Yet, cost of living issues persist. My expenses for the month increased with food spending being the main factor.

After waiting for so long, the URA Masterplan 2025 had finally been unveiled. One point stood out for me. There's a noticeable provision of land for residential use and quite evenly spread out across the island. That translates to more built up areas, more people and less nature. Is the 10 million population rumor becoming reality? Let's look at some trends. Birth rates are low and schools are merging in response. Life expectancy has improved, therefore more medical facilities are coming up. People are encouraged to work longer so the retirement age gets raised, thereby also instituting increased CPF contribution. COE prices are high and more MRT lines, cycling paths are being planned. Hawker centres and integrated community spaces are sprouting all over the place. By building amenities near residential units, the government hopes people can work from a convenient location, stay healthy and perhaps raise a small family. No coincidence that unit sizes are shrinking once it's accepted that births will not make a U-turn in time, so better to prepare for more immigrants by getting infrastructure in place. To support these, the government secured long term electricity supply deals and diversified food sources. With such good planning, fortunately or not, home prices will be propped up. These measures ensure sustained economic growth and make Singapore an attractive destination for tourists, businesses and migrants. In time to come, we can proclaim the little red dot to be a mega city state.

Dividends as of June 2025: $4744.89 (avg $790.82 per month)

Tip: Amabuki Tokubetsu Junmai, punchy dry, pairs well with heavy food

Finance Investment Movement 58

It was a good resilient month as stocks held up, cryptos marched upwards and options trade went smoothly. Well everything but cash as a chunk was used to fully pay up the tax bill. A monkey off the back until next year. Hence, portfolio improvement target dipped to 4.8%, suggesting that I need to amp up returns. The big problem on hand is how to use idle SRS funds.

There's been a spate of company delisitings from the Singapore stock exchange, with a possibility of up to 16 and counting. It's a big jolt considering that the country prides itself as a financial hub. The optics were so bad till a task force at government level had to be setup. I recall prior to the 2000s, the stock market was a hot flurry of activities. Contra trading, explosive IPO debuts, penny stock intra day volatility etc were such common occurrences that had many people glued to the monitor. Stories of instant windfalls to the tune of few thousand dollars within minutes and lots of chatter even when walking on the streets. Trade orders were being placed over a phone call and lunch crowds gathered outside shops that had a TV display of stock prices. Those were exciting times. However, sentiments changed around mid 2000. Besides financial losses from market downturns, there were increasing issues with incompetent companies made worse by fraud findings. I think people could accept if a company loss is due to normal business operations. But issues such as opaque disclosures, safety compromise and sometimes non-existent sales contributed to an irreversible distrust mood. It happened to local and overseas companies especially from a certain jurisdiction. Personally, till today, that has put me off investing a single cent into those from a particular country on the SGX. Thus, I feel there’s a severe lack of confidence and better choices elsewhere. What Singapore lacks is the presence of big name local companies such as TSMC that could hold global investors’ attention. Once upon a time, Creative held that mantle but since then, there had been no notable ones. Add in some exciting startups and get the ball rolling. It can’t be just the banks and Reits doing the heavy lifting. How this is tackled and whether interest can be revived will be an uphill challenge. 

Dividends as of May 2025: $3735.99 (avg $747.20 per month)

Tip: Amabuki Tokubetsu Junmai, punchy dry, pairs well with heavy food