Saturday, March 18, 2023

Passive Income in 1Q 2023 exceeds $5k

The first quarter of 2023 is trickling to an end.

I am entitled to the following passive income in Q1 2023 from Singapore Savings Bonds, stocks and Reits in my SGX income portfolio.

$117.50 Savings Bond (3 Jan)
$90.00 Savings Bond (1 Feb)
$99.50 Suntec Reit (28 Feb)
$270.65 Savings Bond (1 Mar)
$180.40 Ascott Reit (1 Mar)
$305.35 Keppel Reit (1 Mar) SRS
$792.50 Ascendas Reit (7 Mar)
$222.70 Mapletree Log Trust (13 Mar)
$413.20 Keppel DC REIT (14 Mar) SRS
$286.62 Mapletree Ind Trust (14 Mar) 122 shares
$363.00 MPACT (15 Mar)
$964.80 CICT (17 Mar)
$219.54 IREIT (23 Mar)
$828.80 Aims Apac Reit (24 Mar)
$181.42 Capitaland China Trust (30 Mar) 148 shares

Altogether they add up to $5,335.98. This amount is sufficient to cover all my essential expenditures such as food, groceries and telco bills but not enough for my insurance premiums and income taxes. Hence I have not attained financial freedom yet.

This is a 30% Year-on-Year increase from my passive income in Q1 2022 of $4,075.35.

Free cashflow is indeed awesome!

I value passive income highly because they do not require much effort nor labour to earn. Furthermore, dividend income is not taxable in Singapore.

I strive to continue living frugally, save up, invest in any bear or bull market conditions, slowly and steadily build up my investments, staying on track towards achieving financial freedom.

My ultimate goal is to own an investment portfolio valued at one million dollars yielding at least $50k of passive income annually.

I look forward to collecting more dividends as passive income in the coming months of Year 2023.

Thanks for reading. Stay focused and remain steadfast as always!

With love & peace,


garudadri said...

Hi Qiongster,
Great going
Best wishes. Keep posting

mysecretinvestment said...

Hi Qiongster,

Well done. You have all the right ingredients to grow your wealth to double digit millions in time to come. The right ingredients are :

1. Having a clear goal / target
2. Persistence and consistency
3. Living well within your means
4. Earning a good income
5. Saving well and investing

If you are married and your wife is also working, both of you will be able to accelerate that wealth growth. A case of 1 + 1 > 2

People in my cohort (we are in our early 60s) are benchmarking our networth for working couple as follows:

55, networth (NW) to be $6M
58, NW to be $7.25M
60, NW to be $8M
62, NW to be $9M
65, NW to be $10.5M

This benchmark was defined 5 years ago in 2016. So the amounts should be higher now for newer cohorts.
NW is defined as total assets minus total liabilities. Assets include properties, insurance, endowments, T-bills, stocks and shares, precious metals etc., but exclude car, TV and other consumables.

Keep up the good work!

Cory said...

Congratulation to path of FF. Just a caution note on no single counter will damage your dream.

Qiongster said...

Thank you Garudadri! All the best to you too!

Qiongster said...

Thank you mysecretinvestment! I only target for $4m net worth and $50k annual passive income. All the best to you too!

Qiongster said...

Noted and thank you for the caution, Cory!