Over the years, I would just randomly pick stocks that I think is interesting to buy and accumulate. The only segmentation I did then was between the US and Singapore Market. I wanted to use the Singapore shares as passive income generators & US for capital gains as there are greater movements in US shares. The US dividends incur a 30% tax, thus may not be that attractive as passive income generators.
However, in my desire to achieve more diversification, I decided to be more mindful of the sector classification & investment allocation of the stocks I own moving forward. Over the holidays, I took some effort to sort them out and created a high level plan for 2014. Is SGD 65 K passive income target for 2014 achievable?
This is the first time I am setting a high level plan in such detail, typically I only set a goal (number) to achieve. Let’s cross check by the end of this year, how well this plan gets executed / deviated.
Wish me luck ;-p
Happy New Year !!!
Check out my other 2014 Passive Income Playbook series :My 2014 Passive Income Playbook - Diversification ?