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!

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