Building up your passive income + SRS Portfolio Update

Building up your passive income

June and December are happy months for me. It used to be that I could travel for holidays but that seemed like a distant memory now. 😫

More importantly, I have built up a portfolio of passive income over the years and June and December are "payout months". 

You can see that I have now tried to include March and September as well to mitigate the school holiday expenses 😂.  

Two big and two small holidays. (Note that leverage taken to create this portfolio is not "included" is this chart below)

You can build up your passive income and I encourage you to be religious about it. Let me share the 5 steps I took to achieve this.

Five steps to building up your passive income for salaried workers

Step 1 - Focus on building up your skills and experience in your chosen career path. (Some industries are better paid than others). I have a very old post on this if you are interested.

Step 2 - Save, save and save. I can't emphasize more how important this is. You need to save your bonus and increment to build up your capital first.

Step 3 - Don't hesitate to change jobs if it gives you better pay and prospects (find a very profitable company) or if you want to hit it big, join a start-up called SEA or Grab with lots of stock options

Step 4 - Start investing while you save up. You need to find the asset class that will speed up your progress. It can be property or stocks (and some say bitcoin 🤔)

Step 5 - Keep track of your progress regularly and keep repeating step 4. Don't lose your capital and once you hit a certain "critical mass", it will grow exponentially. 

When I reflect on my own journey, it is the hardest and takes the longest to hit the first million but once you achieve that, the time to make the next million will become faster and that is where wealth will grow exponentially. This is also the time to take more risks and allocate more to other asset classes (such as Private Equity).

Always check back on your goals and progress to know where you are heading to 

I always check in on my goals to see if I am on track. My goals for 2021 are here. I am pleased that Goal No.4 - IPO tikams of $10,000 is now achieved with the successful listing of OTS Holdings! As promised, I will try some Golden Bridge luncheon meat next time.

SRS Portfolio Update - 26 June 2021

The SRS portfolio continued to stay positive with improved market sentiments. I tried to add some OTS Holdings this week but my buy orders were not filled and the price has since rebounded. Better luck next time... and I still have quite a bit of cash in the SRS account to deploy...

  

Happy SRSing!