Lately the market has gone up quite and I have been itching to complete some new trades. I guess the general exuberance isn’t unsurprising considering that the perceived positive economic climate seem to be positive and upcoming dividends/distributions are due in June.
As of today, both the STI as well as the SGX S-Reit Index is up almost 10% YTD and most counters are definitely off the lows that we saw in December. Personally, I think the general economic uplift is still rather patchy and while reits were trading at bottom prices, the positives are now priced in and investors are now buying based what they believe are future profits.
I guess the best thing to do now is to go contrarian and start to save for the next storm. Being a person that can’t sit still for long, I have decided to set myself a goal of achieving $20,000 from now till the end of the year. $10,000 will go into the savings account for the house/home reno/wedding that is likely to come within the next few years and $10,000 will go to the warchest!
Problem is that it is now June and factoring my yearly insurance premiums that are due in September, I would probably need to start picking up an extra gigs to comfortably meet these targets. I guess necessity is the mother of invention, so when it comes to this I guess the smart thing to do is try to see how I can try add some additional income streams.
Lets see how far we can go with this plan in 2017…