Luckily I have my friend borrowed me some cash for me to storm over that 2 weeks. It's kind of interesting to have put myself into such deep shit this time though.
Reasons why I was poor:
1) Gungho investing (I used 60% of my salary for investment)
2) I went to restaurant several times during last month
3) Borrowed some money to my friends.
Today, I went to Standard Chartered Bank to open a e-Savers account so that I could apply for the online trading via the bank, I had enough and now I am quite sick and tired of the $25 minimum trading fee. So, that made me decided to leave it running on its own free wheeling from now onwards.
During these period while everything is dropping, I would be adopting the 'Drop More Buy More' strategy. Looking at it I would be splashing in a huge percentile of my income into the pit. No emergency funds, no mercy.
I think that this way is the best way I can quickly grow my wealth so as to get out of the rat race fast. I am aiming for $100k portfolio by this year end. Currently my portfolio is worth $91,195 I have another $8k to contribute to my retirement stocks account. I am quite happy to see that I am actually in the fast track ahead of my projections since my first post in this blog which is shown below.
What about you? Are you as reckless as me?
My 5 Year Target Projection
| Year | Initial Capital | Annual Dividends (6%) | Annual Injection | Cumulative Injection | Total | Monthly Passive Income | ||
| 2017 | $98,316.00 | $5,898.96 | $15,000.00 | $20,898.96 | $119,214.96 | $491.58 | ||
| 2018 | $119,214.96 | $7,152.90 | $15,000.00 | $22,152.90 | $141,367.86 | $596.07 | ||
| 2019 | $141,367.86 | $8,482.07 | $15,000.00 | $23,482.07 | $164,849.93 |
$706.84
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