May was a turbulent month to say the least. Portfolio value increased slightly to SGD 33,176 with the terrible performance of the stocks bought during my silly stock picking days dragging down the overall performance considerably.
The bookshops are full with meters of shelf space containing personal finance and investing books. Unfortunately many of them simply are not worth their money. However, there are 3 time-tested classics which are my absolute favorite books on personal finance and investing.
How to invest your money in Singapore?
I was asking myself this some time back after having decided not to spend all my money on fun & frivolous activities. My first steps were stupid to say the least and I made many silly mistakes including: trying to pick hot stocks to buy, trying to time to market and so on. This is when I realized some more research was in order and I came up with some leading principles which hopefully will work better in the long run.
My ambitious goal: be financially independent by 2027. What does financially independent mean? Passive income covering my costs.
So let’s jump right in with my small getting started investing in Singapore guide:
- How to get started investing in Singapore in 5 simple steps?
- How to open a trading account in Singapore?
- Introduction to exchange traded funds (ETFs) for Singaporean investors
Most of all: this is an experiment. I have no idea how it will go. So let’s give it a shot and let’s have fun!