Alternate Income: May 2021

Wow, May has already ended and we are halfway into 2021. Time really passes quickly and everyday, the situation around the world is constantly evolving. We went back in Phase 2 (Heightened Alert) and I sincerely hope that everyone has been doing fine and staying safe. I got my vaccination jabs done in May and even though I experienced some side effects, I think it is definitely better than the alternative. Now we can only hope that the situation improves here in Singapore and we return back to the new normal, sooner rather than later. In other less serious news. football season is over and now we have to content with the long wait until EPL starts again in August. Luckily, we should have some Euros action to tide us over. I just hope that all these international sporting events do not become a catalyst for the next wave of the pandemic. Okay, with that little recap out of the way, we can get back into how our portfolio performed this month. 

For May 2021, we received $441.09 from interests and dividend returns. Its not the first month that we surpassed our target of $200 per month and it feels good to have reached this target again. Viewing our stocks.cafe report, we tend to receive more towards the middle of the year. Hopefully this will make up the shortfall which we experienced earlier in the year.

As we are going past the halfway mark of 2021, we continue to remain disciplined in our investment efforts.  By my rough estimates, I am confident that we will reach our goal of $200 per month in alternate income for 2021 with our continuous DCA entry into the market. Hopefully I did not compute anything wrongly and the data will back me up come December.

Share with me your thoughts and comments on such apps you guys are using! Remember to stay safe everyone!

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SG FI Dad, out.

A Personal Reflection on Covid-19

I recently read a couple of articles/posts here and here detailing how some high income earners have been badly hit by Covid-19 and the subsequent retrenchment/organisational restructuring. My well wishes goes out to those who were interviewed in the TODAY article as well as anyone who maybe facing the crunch now during this pandemic. 

It is unfortunate that the aviation and travel industry are so badly hit during a black swan event, such as Covid-19. Travel restrictions have really put a dent in demand with SIA even having more than 80% of its fleet in idle at one point of time. When the demand for one's skills/expertise is reduced, it is inevitable that the organisation/business will have to restructure in order to stay viable.

This situation has really put into perspective the importance of having an emergency fund and keeping expenses manageable. One of the pilots that TODAY interviewed was earning above $14,000 but was struggling to make ends meet when there was a company-wide pay cut to $6,000. To a middle-income earner like myself, I could not comprehend their struggles initially. However, it is always important to take on the lens of those affected. Imagine yourself earning that much, it is easy to feel that you can take on the world and whatever expenses you deem fit. One may start chasing status symbols like luxury cars and goods and you might want to experience the best there is to offer. The constant need to look good and appear like you are doing well will eventually take a toll on the individual and his/her resources.

The simple solution is really to limit one's expenses and not make social affirmation one's priority. Everyone is on their own journey and there are not hard and fast rules on how someone should/should not spend their money. But contingencies should always be in place such as emergency funds, a equity portfolio and upgrading/diversifying of skills. However, situational and cultural factors are not so easy to overcome. 

I am grateful that I have had the chance to take courses throughout this period to expand my horizons and diversify my skillset. I am always looking out for courses that might be interesting and to learn something new maybe even from a different industry.

That's it for my tiny reflection. Share with me your thoughts on how one can overcome such situations and what you have done to future-proof your skills.

SG FI Dad, out.