Passive Income for 2024 Exceeds $30k!

  

Year 2024 whizzed past in a blink of an eye. As the year draws to a close, let me take a moment to reflect on my passive income journey.

From 1 Oct to 31 Dec 2024, the following dividends are my main passive income source.

$147.50 SSB (1 Oct) SRS

$303.00 SSB (1 Oct)

$399.72 CICT (17 Oct)

$612.19 SSB (1 Nov)

$270.00 Guocoland (19 Nov)

$540.54 DBS (25 Nov)

$162.00 DBS (25 Nov) SRS

$187.15 Astrea 7 A-1 PE Bond (27 Nov)

$79.00 Suntec Reit (28 Nov)

$722.40 Frasers Centrepoint Trust (29 Nov)

$134.00 Netlink Trust (29 Nov)

$489.22 SSB (2 Dec)

$396.00 MPACT (6 Dec)

$436.87 Mapletree Log Trust (17 Dec) DRP

$996.00 Frasers L&C Trust (17 Dec)

$514.12 Mapletree Ind Trust (18 Dec) DRP

$840.00 Aims Apac Reit (24 Dec)

They amount to $7,229.71.

My passive income for the first 9 months of 2024 is $24,516.32

Altogether, my passive income for 2024 is

$31,746.03

This is 16% higher than the $27,304.87 of passive income for year 2023.

My target for 2024 is $28k and I am pleased that my actual passive income exceeded expectation.

My ultimate goal to achieve FIRE is to own an $1m investment portfolio generating at least $50k of annual passive income. Currently, I am at about half of the journey as my SGX income portfolio and SRS ultra long-term portfolios are valued at around $500K and passive income has crossed the half-way milestone of $25k.

Though we are moving past the peak of high interest rates, the impact of high interest rates on S-Reits is evident and expected to prolong for the next few years, resulting in the current subdued performance of S-Reits.  Nonetheless, I remain comfortable holding a portfolio with a significant allocation to S-Reits alongside safe havens such as risk-free Singapore Savings Bonds and fixed deposits in local banks.

2024 has been a peaceful and rewarding year despite being clouded by immense uncertainties and fears about inflation, recession, war, politics and so on.

I am optimistic and believe that 2025 will be a better year despite the looming recession and potential global economic slowdown which could present more opportunities for investors.

I anticipate the Federal Reserve to remain accommodative towards interest rates cuts to help mitigate global economic slowdown while balancing inflation concurrently. I embrace the resilience of the real estate market, with the potential for REITs to increase rentals and continue paying consistent dividends. The world will go round no matter what happens.

As investors, we shall continue to acquire income-producing businesses and assets to enhance our future passive income streams. Let us also look forward to the upcoming interest payouts from CPF in Jan 2025.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investment decisions should be made based on individual circumstances and after careful consideration of risks and potential rewards.

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

With love & peace,

Qiongster