September 2020 Update (2020 Networth Achieved)

We are finally into the last quarter of the year. The past month can be described as hectic - everyday is filled with challenges at work and numerous stuff to clear with tight deadlines. This will likely continue on til the end of November where I get the chance to clear some leaves. 

During one of the dinner conversations with my uni friends, one of them brought up about the topic about his endless work. Being trapped in a routine that revolved around waking up to work, heading home to rest and looking forward to weekends. He has thoughts of quitting his job and enjoy the present while he is still young. However, in an asian society that we are in, quitting a job without finding another job can be seen as an irresponsible act. Many millennials like my friend dont see themselves being in this routine for the next few decades and that is why the "FIRE" movement has been popular in this age; the opportunity to escape the rat race or have options to pursue other aspirations without worrying about finances. Work is definitely a part of everyone's life as we all need to put food on the table and save for retirement. However, work is just a part of life and there are other equally important parts like relationships, health etc. Okay enough of my random thoughts haha.

Income Portfolio

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Added 400 units of OCBC. Was planning to increase my stake in UOB and DBS to make the 3 banks of equal weightage but the market doesnt seem to offer the price I wanted. 

Index Portfolio

Added to both CSPX and IWDA. The price of IWDA and CSPX had been trending higher ever since my previous months purchases and a part of me felt reluctant to average up. Sticking to the plan and ignoring emotions is the key ingredient to this portfolio. 

Managed to hit my target of 180k networth by end of 2020! This came as a surprise as my Income portfolio was beaten down due to COVID. The Index portfolio rode the wave of the tech stocks and pulled my networth up. Wasnt expecting to achieve my target earlier than expected and am glad that the tough times at work and savings/investing paid off. With two months to go, it would be hard to achieve 200k but we will see if the market decides to give us another surprise. 

Til then, take care and thanks for reading. 

Cheers, 
KO