Come to think of it....one of the biggest mistake I make is that although I have make the first step in setting up the goals itself. I did not setup a plan to achieve it.
What have I setup to Achieve in 2012??
- Start 1 UT month Saving Account
Have done 1 with IFAST in 2011. Have been Procrastinating about starting another one. Deciding which Firm to get on broad to. Currently there quite alot to choose from.
Philips Securities, OCBC Securities, DBS Vickers, fundsupermarket.
Think after much thoughts, I will go with Fundsupermarket, since they have promotion
Think after much thoughts, I will go with Fundsupermarket, since they have promotion
- Start Another OCBC MSA Account
My current OCBC MSA Account will end sometime end of Jan. Though didn't really put alot of monthly saving into this account. But thought it is a very disciplinary way to save. Thinking of starting another MSA Account, of $100. Shall get it done by the end of the year - (Done)
- Start a Forex Trading Account (USD 250)
Forgotten how to go about setting this up. Wanted to start an account to trade Forex, main reason is not to get rich fast but to put the skill which i pick up during the course which i took years ago to use. I wonder does the matter still works. I think I better email the course guys to see if I can go back for a refresher
- Invest the OCBC MSA Account to Achieve 5% monthly rtn
As my Old MSA account will terminate end Jan, It doesn't make sense to leave it in the bank. I intend to use this saving to invest and probably try to get a monthly return of 5%. Ambitious right!!. I think it will be tough but it is still better than timing the market. Worst off, I just get the dividends which will still be at about 5%, but per annum only.
- Achieve Monthly Rtn of 7% for Forex Trading
U all have seen advertisement showing us how they earn 10k in days. I choose to think that they are actually bluffing or they are just the few minority that manage to earn while the majority lose even more money. I choose 7% just as a target to be motivated. Main idea is still to put when I learn to use
- Achieve monthly Rtn of 5% for AIA and Pru ILP account
I think this is the most difficult and troublesome to achieve. Many at times I wanted to terminate these account due to a mistake of putting money here for investment. High Charges and troublesome selling procedure where u have to fill-up forms, post it out. By the time the document for selling reach their office. I am probably looking at a different prices all together. I think the main idea here is to accumulate units rather than the prices. Let see how it goes. Shall Blog more on the result as it goes. For your inform, the buy/sell charges is 5%. So in order for me to earn a profit, I need to prices of >5% buy prices. It is that difficult.
- Start a Gold Investment Account
Pretty Clueless about this investment Options. But a good friend of mine have been lamenting how good it is to invest in Gold. With all the world Currency now into a unstable mode, it does make sense to divest some amount of cash into this instruments. Now the only problem is how. I only know UOB bank is the only bank in Singapore that offer Gold Investment. Other options is to buy the Gold ETF which is just like Stocks or go into the Gold shop and buy physical Gold.
- Buy Unit Share from Poems/OCBC/Vickers
I always know that we can buy odd lots on the Singapore Exchange. But the down side of this is that is it always very difficult to sell such lots. However I am looking into whether my broker can help me consolidate this odd lots into a standard lots once I accumulated to 1000 share, the standard lot size. Didn't want to miss out any opportunities to invest. Be it small or big....lol. These method are especially useful for big stock liks SIA or banks which could come up to 12K per Lot
- Start a DBS Vickers Stock Trading Account
I got 2 Securities account, Philips and OCBC. I only use Philips most of the time. I have yet to determine what to do with OCBC Securities. Both Charges about the same rate. However, even though I only use 1 account, I was lamenting to get the 3rd account, Likely DBS Vickers due to it relatively cheaper trade rates...I will do more search before I applied.
- Achieve a monthly Salary of >5K (Include investment)
By this statement, it really mean I am earning very little money. Definitely less than 5K. It is a Dream Goal I must say cos 5K is a very very big Gap. I fall in the half past 6 region in the middle income bracket and I am not seeing this figure within the next 2 years. So I thought Why not aim to achieve this. I got to be motivate in someways. The most important task now is to make sure those Goals that I set above works and are achieved in order for this goal to be meet.....finger "X"
Well that sum up the Financial Goals for 2012. Pretty challenging and probably involved a bit of time researching and reading + some logistic and administrative stuff to deal with.
No comments:
Post a Comment