I have finally received the keys to my BTO nest on the 4th Dec 2013.
Me and my wife have diligently saved for the renovation cost for the past 3 years.
For the next 3 months, we will spend lots of effort into renovation and moving into our love nest.
After moving into our love nest, the next chapter of our life will start rolling!
I am going to start my most ambitious project yet this year, because it will last a lifetime.
I believe that there is only one way to build wealth and that is to save and invest.
With combined capital from myself and my wife, I will start a stock portfolio of $100k using a joint SCB trading account to save on trading cost.
My first goal is to attain $1000 in dividend per month. I will need to grow it to $200k at 6% dividend yield in order to achieve $12k dividend annually.
I hope to achieve $200k within 3 years with continuous contribution to the account.
By the age of 50, my passive dividends should reach $3k per month. This amount should cover my household expenses easily, I hope.
I have to learn to love major corrections and crisis, so that I can buy at cheaper price of strong companies.
I have mentioned previously that I have blew my forex account of $30k due to lack of experience and understanding of the complicated forex market.
Currently I have left only $750 in this account and I do not intend to add funds to it.
I will use this $750 as my FX trading capital to grow back account again. With a small account, i can’t get greedy at the market because the amount is simply not big enough to make a huge difference. I will use this opportunity to hone my trading skills.
I believe I have become more mature in trading and have more confident in myself now.
I target to reach $10k by end of 31 Dec 2014 and $30k by end of 31 Dec 2015.
By then, I will be able to trade for monthly income.
I have to learn to love volatility, because money is made in moving markets.
These 3 projects will take up a lot of my time and effort, I believe it will be well worth it as they will have far reaching effects on my life.
They are the stepping stones into my future.
If you think that investing and trading is hard, try not doing any of those. Just by working and saving, you can’t catch up with inflation, and you will wonder why your savings is never enough.