Read? Have you spend enough time thinking on your money management stratgeies? (3)
How often have you came across investment articles or blog posts mentioning the importance aspects of money management as part of investing strategies especially during retirement phase across future crisis.
See for yourself!
Pumped in so much money into the market just to maintain!
COVID-19 has validated Uncle8888's money management strategy to sustain his replacement income from his investment portfolio during retirement phase!
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Thanks for your open sharing CW. Not many people know the "behind-the-scene" hardwork in income investing.
ReplyDeleteTo maintain my dividend income to match just that of last year's (2020), I have been injecting fresh funds into the market. Cannot think of matching that of 2019 (pre-Covid) which was $78.8K. For this year, after steady monthly cash injection, I am hopeful of achieving $64K in dividend income same as of last year.
Likewise, to maintain our rental income, we have to pour in some money to maintain the apartment. Luckily the rental market was better this year.
The best income source of all, in times of crisis is the humble CPF. With constant contribution both mandatory and voluntary, the interest earned can only go up.
CW,
ReplyDeleteLol!
To focus on money management, you need to have money first...
That's why snake-oils have to prioritise Method as that's what their customer base wants - HOW to get rich!
Not how to protect your wealth.
Then again, we have also been transparent when we were climbing up the mountain, we also never focused on money management...
You with your contra trades and over staying your welcome in 2008; me with my margin trading; while others so heavy into properties until banks savings only a few thousand...
Weren't we glad we didn't know what cannot be done then!?
Heng ah!
Hi Uncle8888,
ReplyDeleteHmm would have tot that money mgmt is a part of method ... like punctuation is a part of language lol.
I guess it's much easier selling Ferraris when there's no requirements to have driving licenses or to pass defensive driving tests.
Money management is something a person naturally thinks about when he has a lot to lose. When he hasn't much to lose, thinking too much about it may hold him back.
ReplyDeleteFor a retiree, risk management is something he'd better think hard about. Anyway, I'm saying something that everyone here knows already.