My Passive Income Diary: September 2024

 

If you have yet to read my previous month update, here is the link: https://justbeingernest.blogspot.com/2024/09/my-passive-income-diary-august-2024.html

My Passive Income Sources

For this month, my passive income sources are only:

1. Endowus Income Fund
• Endowus is an evidence-based robo advisor with competitive fees and prices in Singapore.
• It allows you to invest all three sources of wealth - CPF, SRS and cash. It is the first and only robo-advisor in Singapore to allow you to invest your CPF monies.
• Their portfolios utilise funds from global fund managers, such as PIMCO and Dimensional, with real, long-term proven track records.
• Personally I invested in the Endowus Income Portfolios where I receive monthly payouts from the funds.
• Click here if you are keen to sign up: https://endowus.com/invite?code=QFMWH
2. Chocolate Finance Cash Management Account
• Chocolate Finance offers attractive interest rates on your cash deposits, significantly higher than traditional savings accounts.
• Unlike traditional savings accounts, Chocolate Finance provides daily interest accrual. This means you see your money grow consistently, day by day. 
• You can withdraw your funds at any time without penalties or restrictions. This gives you flexibility and peace of mind. 
• There are no hidden fees or complex terms associated with Chocolate Finance. 
• Your funds are invested in a carefully curated portfolio of short-term bonds, providing a balance of risk and reward while maintaining high levels of security.
• Click here if you are keen to sign up: https://share.chocolate.app/nxW9/y321ds2r

My September 2024 Passive Income

In September 2024, I received the following passive income: 

1. Endowus Income Fund: $103.05
2. Chocolate Finance Cash Management Account: $7.48

Total Passive Income: $110.53

What's Next?

As you can see based on the charts, the passive income for this month dropped drastically from 1,230.98 in August 2024 to 110.53 this month.

This goes to show that I would need to build more income streams such that the fluctuation is not too drastic on a month on month basis.

I have been accumulating more dividend stocks during this period and looking to invest even more although capital is limited and I would also want to have spare cash to invest during opportunities.

For the coming period, I will be spending time to read up on more companies and also be out overseas.

Stay tune for more updates!

By the way, if you are looking for an insurance advisor, I can refer to you the list of insurance advisors that I work with. 

These insurance advisors are people whom I personally have used their service before. 

Feel free to contact me if you want me to refer them to you. 

You can contact me via telegram at https://t.me/Justbeingernest

And by the way, if you are looking to get Travel Insurance, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=535&a=53 

Or if you are looking to get Credit Cards with sign up rewards, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=588&a=53

My Passive Income Diary: August 2024

 

If you have yet to read my previous month update, here is the link: https://justbeingernest.blogspot.com/2024/09/my-passive-income-diary-july-2024.html

My Passive Income Sources

For this month, my passive income sources are:

1. Singapore Savings Bonds (SSBs)
• These are Singapore government-backed bonds that offer a guaranteed interest rate. 
• Fully backed by the Singapore Government. You can always get your investment amount back in full with no capital loss.
• Invest for up to 10 years with interest that increases over time. The longer you save, the higher your return.
• You can choose to exit your investment in any given month, with no penalties. There is no need to decide on a specific investment period at the start.
• Click here to know more: https://www.mas.gov.sg/bonds-and-bills/singapore-savings-bonds
2. Endowus Income Fund
• Endowus is an evidence-based robo advisor with competitive fees and prices in Singapore.
• It allows you to invest all three sources of wealth - CPF, SRS and cash. It is the first and only robo-advisor in Singapore to allow you to invest your CPF monies.
• Their portfolios utilise funds from global fund managers, such as PIMCO and Dimensional, with real, long-term proven track records.
• Personally I invested in the Endowus Income Portfolios where I receive monthly payouts from the funds.
• Click here if you are keen to sign up: https://endowus.com/invite?code=QFMWH
3. Chocolate Finance Cash Management Account
• Chocolate Finance offers attractive interest rates on your cash deposits, significantly higher than traditional savings accounts.
• Unlike traditional savings accounts, Chocolate Finance provides daily interest accrual. This means you see your money grow consistently, day by day. 
• You can withdraw your funds at any time without penalties or restrictions. This gives you flexibility and peace of mind. 
• There are no hidden fees or complex terms associated with Chocolate Finance. 
• Your funds are invested in a carefully curated portfolio of short-term bonds, providing a balance of risk and reward while maintaining high levels of security.
• Click here if you are keen to sign up: https://share.chocolate.app/nxW9/y321ds2r
4. Dividend ETF and Dividend Stocks
• Dividend ETF is a basket of dividend-paying stocks, reducing individual stock risk.
• ETFs typically have lower expense ratios than mutual funds, which means that investors keep more of their investment returns. 
• This is because ETFs are passively managed, meaning that they track an index rather than actively trying to outperform it.
• Dividend stocks provide a steady stream of income, which can be especially beneficial for retirees or investors seeking regular cash flow.
• Personally I am using FSM to hold my dividend stocks and dividend ETF
• Click here if you are keen to sign up: https://secure.fundsupermart.com/fsmone/signup/personal/P0375989

My August 2024 Passive Income

In August 2024, I received the following passive income: 

1. Singapore Savings Bonds (SSBs): $371.25
2. Endowus Income Fund: $99.30
3. Chocolate Finance Cash Management Account: $2.43
4. Dividend ETF: $430.00
5. Dividend Stocks: $328.00

Total Passive Income: $1,230.98

What's Next?

I aim to accumulate more passive income and am looking to invest more into dividend stocks in the SG market.

Once I have accumulated a portfolio of SG dividend stocks, then I would look into overseas stock market like Hong Kong and US.

For now, the strategy is to be focused on the SG market first and get 20 dividend paying companies.

My criteria for the dividend stocks at the basic level is that it must have

1. Track record of at least 5 years of paying dividends
2. Dividend payout ratio of less than 90%
3. The company makes consistent or growing revenue and profits

Currently I only have 3 companies in my portfolio and still need to work hard on accumulating more.

Stay tune for more updates! 

By the way, if you are looking for an insurance advisor, I can refer to you the list of insurance advisors that I work with. 

These insurance advisors are people whom I personally have used their service before. 

Feel free to contact me if you want me to refer them to you. 

You can contact me via telegram at https://t.me/Justbeingernest 

And if you are looking to get Travel Insurance, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=535&a=53 

Or if you are looking to get Credit Cards with sign up rewards, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=588&a=53

Secret Hack: Rack Up Miles Effortlessly with Heymax!

In today's fast-paced world, everyone is looking for ways to save money and maximize their rewards.

One of the most popular ways to do this is by earning miles or points through credit card spending. 

However, did you know that there's a secret hack that can help you earn miles effortlessly, without spending a dime out of your pocket?

Introducing to you, "Heymax.ai"

What is Heymax?

Heymax is a rewards platform that allows you to earn miles on online purchases, on top of the rewards given to you by your credit card company.

It is similar to Shopback but rewarding you in Max Miles instead of Cashback. 

You will need to login to the heymax platform or app and browse through the online stores that you want to shop at.

Then click on the Shop Button to shop through heymax.

Once the transactions are completed and verified, you will be rewarded with Max Miles.

Which you can convert your Max Miles into rewards by

• Redeem your flight with Max Miles
• Transfer Max Miles to 25+ travel partners
• Redeem gift cards with Max Miles

Get Instant Max Miles with Vouchers 

One of the most exciting features of Heymax is its vouchers. 

By buying vouchers on Heymax, you can instantly boost your mile earnings where you get rewarded with Max Miles.

These vouchers can be used at popular stores such as Amazon, Grab, Klook, Ikea, Adidas, Best Denki, Lazada, etc

Fast Track Your Free Trip with Credit Card Rewards 

While Heymax is a powerful tool on its own, you can further accelerate your mile accumulation by combining it with credit card rewards. 

Many credit cards offer bonus miles or points for certain categories of spending. 

By using Heymax to earn miles on your online purchases and optimizing which is the best credit card to use, you can ensure that you are getting the maximum rewards and miles.

Redeem Your Max Miles 

Once you've accumulated enough Max Miles, it's time to redeem them for your dream vacation. 

Heymax partners with a variety of airlines and hotels, allowing you to redeem your Max Miles for flights, hotel stays, and other travel experiences. 

With your Max Miles, you can redeem them by 

1. Transferring your Max miles to other Airlines or Hotel Partners. Enjoy transfers from 1:1 ratio. No fees, no expiry.
2. Exchanging the Max Miles for Cash by providing your Flight receipts
3. Exchanging the Max Miles for gift cards like Grab vouchers, Lazada vouchers, Amazon vouchers, etc

Never Miss Out on Max Miles When You Shop with Our Chrome Extension 

The Heymax Chrome extension is a must-have for any serious mile collector. 

This extension automatically scans the websites you visit to identify merchants that partner with Heymax, ensuring that you never miss out on an opportunity to earn miles. 

With just a few clicks, you can activate rewards offers and start earning miles on your purchases. 

Maximizing Your Benefits with Heymax 

To get the most out of Heymax, follow these tips: 

• Check for Reward Offers Regularly: Heymax's partner stores and offers can change frequently, so make sure to check the platform regularly to see what's available. 
• Use Heymax for All Your Online Purchases: The more you use Heymax, the more miles or points you'll earn. Make it a habit to use the extension for all your online shopping. 
• Take Advantage of Referral Programs: Many cashback platforms, including Heymax, offer referral programs that allow you to earn additional rewards for referring friends and family. 
• Combine Heymax with Credit Card Rewards: If you have a credit card that offers miles or points, you can combine it with Heymax to earn even more rewards. 

Conclusion 

Heymax is a game-changer for anyone looking to earn miles or points effortlessly. 

By using the Heymax browser extension and taking advantage of its voucher system, you can quickly accumulate enough miles for a free trip. 

Whether you're a frequent traveler or simply looking to save money, Heymax is a must-have tool.

Link to sign up to Heymax: https://heymax.ai/?referral_code=7E2763B4

By the way, if you are looking for an insurance advisor, I can refer to you the list of insurance advisors that I work with. 

These insurance advisors are people whom I personally have used their service before. 

Feel free to contact me if you want me to refer them to you. 

You can contact me via telegram at https://t.me/Justbeingernest 

And if you are looking to get Travel Insurance, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=535&a=53 

Or if you are looking to get Credit Cards with sign up rewards, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=588&a=53

Why I Ditched Giga for M1 Maxx: A Game-Changer for My Phone Bill

About a week ago I recently port out from Giga to M1 Maxx due to the very attractive phone plan offered by M1 Maxx.

Why Switched to M1 Maxx from Giga

Below is a table comparison of the phone plan that I had from Giga vs the phone plan on offer by M1 Maxx.

Price

From the plan comparison above, first thing is the price for M1 Maxx plan is 50% cheaper than Giga.

$18.33 vs $9.90

Of course the features for M1 Maxx some are a lot lesser than Giga which I will go through below to explain why it isn't a major factor.

Local Data

Giga is giving 300GB while M1 Maxx is giving 199GB. 

To me this isn't alot of difference since I usually use less than 50GB in a month.

So I am okay to have lesser data.

Calls and SMS

Next is the Calls and SMS.

Nowadays calls and SMS are via whatsapp and telegram.

SMS are usually for doing OTP and seldom do I find myself even sending sms to anyone.

Calls are also to company hotlines. These are also seldom used by me.

Roaming Data

This was the game changer for me.

M1 Maxx is offering 10GB roaming forever while Giga is only offering 2GB roaming.

Nowadays for buying of add-on for roaming, the cost is exorbitant.

For Giga roaming add on, it is $5 for 1GB.

Imagine if having the same amount of roaming as M1 Maxx of 10GB, I would need to pay for 8GB more which is $40!

This was why I decided that the M1 Maxx plan was too good a deal to miss.

Cost Savings

Assuming over a 2 years period, if I were to continue with my Giga plan of $18.33 a month vs M1 Maxx $9.90 a month, the difference in amount is about $200.

With this $200, this extra savings can be used for other stuff like travelling or for investment.

Why pay more when you can pay lesser and get even more?

If you are interested to get the M1 Maxx plan, you can click here to get it: https://maxx.sg/?referral-code=Y07092024SBZ

By the way, if you are looking for an insurance advisor, I can refer to you the list of insurance advisors that I work with. 

These insurance advisors are people whom I personally have used their service before.

Feel free to contact me if you want me to refer them to you. 

You can contact me via telegram at https://t.me/Justbeingernest 

And if you are looking to get Travel Insurance, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=535&a=53 

Or if you are looking to get Credit Cards with sign up rewards, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=588&a=53

My Passive Income Diary: July 2024

 If you have yet to read my previous month update, here is the link: https://justbeingernest.blogspot.com/2024/09/my-first-passive-income-diary-june-2024.html

My Passive Income Sources

For this month, my passive income sources are:

1. Singapore Savings Bonds (SSBs)
• These are Singapore government-backed bonds that offer a guaranteed interest rate. 
• Fully backed by the Singapore Government. You can always get your investment amount back in full with no capital loss.
• Invest for up to 10 years with interest that increases over time. The longer you save, the higher your return.
• You can choose to exit your investment in any given month, with no penalties. There is no need to decide on a specific investment period at the start.
• Click here to know more: https://www.mas.gov.sg/bonds-and-bills/singapore-savings-bonds
2. Endowus Income Fund
• Endowus is an evidence-based robo advisor with competitive fees and prices in Singapore.
• It allows you to invest all three sources of wealth - CPF, SRS and cash. It is the first and only robo-advisor in Singapore to allow you to invest your CPF monies.
• Their portfolios utilise funds from global fund managers, such as PIMCO and Dimensional, with real, long-term proven track records.
• Personally I invested in the Endowus Income Portfolios where I receive monthly payouts from the funds.
• Click here if you are keen to sign up: https://endowus.com/invite?code=QFMWH

My July 2024 Passive Income

In July 2024, I received the following passive income: 

1. Singapore Savings Bonds (SSBs): S$392.80
2. Endowus Income Fund: S$60.38

Total Passive Income: S$453.18

What's Next? 

I plan to continue exploring new passive income opportunities and sharing my progress with you. 

My aim is to reach for $5k monthly passive income.

So far i am only 10% of the target, hence i will need to work harder to reach the target faster.

I aim to hit the $5k monthly passive income target by December 2025 which is about 1+ years from now.

Stay tune for more updates!

By the way, if you are looking for an insurance advisor, I can refer to you the list of insurance advisors that I work with. 

These insurance advisors are people whom I personally have used their service before. 

Feel free to contact me if you want me to refer them to you. 

You can contact me via telegram at https://t.me/Justbeingernest

And if you are looking to get Travel Insurance, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=535&a=53

Or if you are looking to get Credit Cards with sign up rewards, you can compare them here: https://apply.creatory.singsaver.com.sg/click?o=588&a=53