Monday, December 31, 2012

My Full Year Financial Report for Year 2012

Happy new year to all of you and here are my full year financial report for 2012 (Jan 12 to Dec 12).

My passive incomes:

The above table shows the total for each of my passive incomes collected from Jan 12 to Dec 12. For my passive incomes, I have managed to collect a total of $20225 for the whole year, which is about $1685 per month. If include the realised gain from selling some of my shares, the total extra incomes for this year will be $23345, which is about $1945 per month. Please note that I did not include unrealised profit of $7400 from shares in the table.

My Monthly Expenses:

The above table shows my total monthly expenses. There are no changes since the beginning of the year. I am still following my old rule to keep my expenses as low as possible by not spending money on the things that I will not need.

My debt:
As for my only outstanding debt from my housing loan, it has reduced from $14000 to $0.

This year is quite a fruitful year for me though I did not able to achieve one of my New Year resolutions of having a passive income of $2200 by end of 2012. I give myself a "B+" grade for this year performance.

Sunday, December 23, 2012

Auto-accumulation of my retirement fund

As mentioned in my last post, I have accumulated enough money in my CPF account to pay off my housing loan.  This means that from next year onwards, my monthly CPF contribution will be in accumulation mode for my retirement fund.

Based on my age, 21% of my monthly wages will go to my OA account and 7% will go to my Special account. This means that as long as I am still working, 28% of my monthly wages will be automatically saved in my CPF account. And also, there are interests given in CPF account, which can create a compounding effect to grow my retirement money.

Sunday, December 16, 2012

How much debt do I have? (Dec 12)

In Sep 12, I had calculated my total debt which is totally from the mortgage loan of my flat to be $3K. The calculation is based on using the outstanding housing loan amount minus away my total family CPF OA amount.

Today my total debt has finally become $0. Hooray!!!

Have you started your journey towards financial freedom?