Floating Cash: 4,637 Its still long term progress, any feedback is appreciated and may be incorporated into future monthly reports. The portfolio not covered: September Highlights:Fixed Deposit: 4,000Shares: 8,590Mutual Funds: 3,348Total: 20,575Past record:August: 20,171July: 16,678This is an ongoing monthly review to keep track on my portfolio performing.
1) EPF.
2) non-liquidity asset such as house, car etc.
Monthly Review - Sep 2009 (+2.00%)
by mw2rp | Wednesday, September 30, 2009 in Monthly Review | comments (0)
I just started this blog so i need blog friends and links too! So if your interested just leave a message in my shoutbox (and shout there until you bleed)
Chao!
Why should start Saving as soon as possible
by mw2rp | Friday, September 25, 2009 in Saving | comments (0)
Assume 5% annual interest
Mr. T
Total paying into account = $10k
Interest earned = $23,373
Mr. B
Total paying into account = $20k
Interest earned = $13,066
It shows how big the difference is between those who start early and those who do not. If you haven’t started planning and start Saving/ Investing. Then you should start calculate how much money you have lost for being ignorance.
Time vs Wealth
by mw2rp | Thursday, September 24, 2009 in Financial planning, General | comments (0)
With the time pass by, I'm on my way to my financial freedom goal. However, it is obvious that my time is not being fully utilised. Other than the daily routine job, my time seem just goes on like that. I am not able to give attention to other things that I should put my thought on it.
I know that time is required to accumulate wealth, especially for a person like me that not a risk taker that involve in business environment. I should spend some of my time to speed up this process, i.e. create other parallel income other than current daily job. Should I:
- doing part time job
- invest in dividend counter, collect passive income
- online business
- direct selling business
- as financial agent
what else can I do? think, think, think...
Any comments?
http://www.planningtips.com/cgi-bin/savings.pl
This is a nice gadget to calculate compounding saving, it lets you start with an amount of money, make regular monthly deposits, and see how your saving grows.
My Personal Finance Diary
by mw2rp | Tuesday, September 15, 2009 in Personal Finance Profile | comments (0)
About Me
I'm a 28yr old. I started this blog to track my journey to financial freedom. I graduated in July 2004. Like other fresh graduate, i entering the workforce without much idea on it. I was just like my parent, thinking my life is just working to earn a living, marry, have a children getting etc.
I started learning about financial planning in year 2005. Thanks to my gf and friends, i've learn the important of budget and have a proper planning.
After graduated, i was offered a job with monthly salary of 1.5k. During that period, i need to pay for student loan amt ~1k and $200 car loan (i got a second hand car as my transportation). Basically, during the first year I'm in negative net income. I was blessed to have my parents to support my balance during this period of time.
After the first year, things change after i getting my professional license. I manage to have steady increase in my salary. I paid off my study loan in 2008, paid off car loan in 2009; I purchased my first house in 2006.
Goal
My goal is simple, to achieve financial freedom. 15 years to have at least 500k of liquidity asset.
The asset amout does not include property, car and EPF.
i will use this blog to do monthly tracking and monitoring on my portfolio.
EPF Investment Income Up 17% on Equities.
by mw2rp | Thursday, September 03, 2009 in General | comments (0)
“PETALING JAYA: The Employees Provident Fund (EPF) has recorded a 17.1% increase in investment income to an unaudited RM4.8bil for the second quarter ended June 30 from RM4.09bil a year earlier.
Compared with the preceding quarter, the investment income achieved represented a 46.64% improvement over the RM3.27bil charted in the first quarter of this year, EPF said in a statement yesterday.
The higher investment income was due to improved performance from investments in equities for the second quarter.” --- star
==============
Good to have the news, but will our get a better dividend return in coming payout? Or still getting lower rate than ~4.5%
8 Steps to Investment Success
by mw2rp | Wednesday, September 02, 2009 in Financial planning | comments (0)
1. Convert income money to capital money. This is another way of saying that a person must spend less than his/her earn. Capital is required to begin any kind of investment program. Once you have amassed some capital by saving, then your money can begin to make money for you. No capital, no investment income.
2. Start while you are young. Compound interest- 8 wonders in the world; the phenomenon of compound interest delivers its most fantastic rewards to those who put their money to work for the longest time.
3. Have a simple plan. Calculate where you are and plan where you want to go. Understand how much to achieve per year to reach your goal.
4. Have a realistic goal. An unrealistic goal will make a person out of focus and unable to keep on track their financial plan set earlier.
5. Be patient and disciplined. It takes years for compounding interest to show its magic. Cyclical market will caused a person to lost focus by greed or fear...
6. Do tracking on your goal regularly. If fail to achieve goal in certain, you may need to review on the portfolio on what went wrong; to cut down expenses? finds extra income? etc.
7. Avoid major life disruption. Easy to say than done, but it is one of the vital fact in financial planning also. Accidence, personal health issue may cut out a big chuck of the money you invested. Maybe what you can do is take care of your own health; cutting cigarrette for smoker, have a balance diet etc.
8. Let the power of coumpound interest to generate your wealth
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