Money Diary-Jul 2024
Saw a sudden sharp spike around 12 Jul in the prices of reits and decided to out 5K into it. Alas, 2 days later, Syfe announced they will be having their 5th year celebration promo by waiving 5 months of fee with minimum 5K deposit...Thus, I transferred another 5K into my reits , totaling 10K into this fund this month. This further add to my reits port folio, making it 51K in total. Finally met my objective in pumping it to at least 50K at last. Also attended Syfe talk in SGX this month on "S-reits mid year outlook: Approaching a turning point?" Well, it better be...as Reits had been wallowing in the pits for past few years due to increasing interest rates. Anyway, its my first time at SGX, super high security place....have to scan and take picture in order to get in. Reminds me of airport custom immigration control...haha...The refreshments at the end looked quite good and posh with salmon tarts, assorted little tarts, red wine, white wine etc....I did not eat as I was on intermittent fasting...what a waste right. Did however manage to grab a couple of kombucha soda canned drinks before going home.
Bought 46K of SSB this month at 3.22%
Intially was not going to buy so much as I was intending to spaced out and do a bond ladder. But since it looked like Fed was going to cut rates for sure this coming Sept, the forcast for SSB in Sept dropped drastically from 3.26% to currently now at 3.13%. Thus, decided to change my plan and buy more this month and left 20K for next month Sept and not buying for Oct liao. This will leave a gap in my bond ladder for April and Oct next year. Oh well....Hopefully the Sept SSB wont drop below 3% since anything 3% and above is good enough to beat inflation...fingers crossed....
Started my OA investment into Amundi Prime USA fund
After much delibration, I finally took the leap of faith and decided to use my CPFOA to invest in Amundi Prime USA Fund that tracks the S&P 500 index. This was also due to some correction in the S&P 500 these few days and it would be a good time to do some dollar cost averaging to buy into this fund using 20K first then slowly adding on further. This was done considering the low management fee of this fund and the fact that I have a 10 years run way (not able to use the money in OA till Im 55), that I feel will surely gives me a better return as compared to letting it rot for 2.5% in the OA. However, I find it frustrating that it still takes 3 working days to buy the fund despite having linked my OA to my Endowus account previously.
Low on cashflow
Was seriously low on cashflow by end of this month due to huge capital inflow into reits and SSB. Currently left with ~3K in my DBS multipler account and ~$700 in savings account. Although I still have some extra bullets left in my OCBC bonus+ account ~8.2K, I do not want to touch them unless absolutely neccessary as I still want to get the 2.8% interest every month. Unless OCBC dropped their interest rate (most likely), I would not touch the money there.
Overall, cutting myself v lean this month. Not a good financial move, luckily i got no other comittments or debts, otherwise sure die...
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