~~Towards Barista FIRE~~

This will be a relatively short post to update on my portfolio and transactions for the month of February.   For the month of February, it remains a volatile month for global stock markets, with uncertainty spilling over into Singapore equities as well.  The biggest driver was a sharp rotation of monies out of tech stocks, sparked by renewed doubts over AI valuations.  After months of optimism, investors began questioning whether earnings could justify lofty prices, triggering sell-offs and increased volatility across markets, including Singapore. At the same time, interest rate expectations remained stubbornly high.  The FED signaled no urgency to cut rates, keeping bond yields elevated.  This is especially so with the latest higher than expected PPI numbers.  This weigh on rate-sensitive sectors in Singapore such as REITs and high-dividend stocks, as investors compared equity yields against safer fixed-income alternatives.  Adding to the unease...

This will be a relatively short post to update on my portfolio and transactions for the month of January. January started the year with higher volatility, mainly due to geopolitical issues. Tensions in Venezuela and Iran raised concerns about global oil supply, while unexpected comments from the US about Greenland added uncertainty to global politics. Even though these events have not caused any immediate downward response to the local stock market (and if any, it was short-lived due to Trump's TACO), it has definitely caused much unrest and movements in the precious metals.   Personally, since I had already removed my exposure to US stocks earlier, I experienced this month’s volatility with less stress.  While I may miss out on sudden rallies, clearing debt and improving my cashflow continues to give me peace of mind.  Market movements are unpredictable, but having a stronger financial base is something I can control.  Thankfully with diversification, any imp...

Lately with the volatility in the markets, be it in US stocks, SG stocks and even commodities like gold and silver, I found a different performance in a selective group of stocks, some of which are in my portfolio.  This group refers to the dividend paying stocks with low average trading volume.  Their somewhat stable performance (largely due to low trading liquidity) is a total opposite of the all time highs and corrections the overall markets have been experiencing recently.  This makes me wonder, are dividend-paying stocks with low trading volume good for long-term investors? On the surface, they somewhat appear attractive with steady dividends, conservative management, and valuations that seem cheaper than the popular blue chips.  However beneath the calm surface, the lack of liquidity and market interest can hide some uncomfortable truths. First and foremost, by “low trading activity”, I am referring to stocks that trade below SGD 1 million in average daily tr...

This will be a relatively short post, just to update on the transactions for the month. For the month of October, it was a eventful month for my portfolio.  In the first half of the month, attention was on the possible ignition of the US-China trade war as China started imposing more restrictions on the export of rare earth minerals, and implementing new controls on technologies used in rare earth processing.  This news angered Donald Trump temporarily, and he threatened to impose a further 100% tariffs on China.  This caused a short term blip in the markets, because soon after he TACO ("Trump Always Chicken Out") and declared such tariffs are not sustainable and he and President Xi are still on good terms. Another concern will be the frothy valuations in US Technology companies.  Although I no longer own any US stocks at the moment, the performance of the US markets will still have an impact on the performance of the SG market.  I am unsure if US big tech...

From time to time, people have asked me how I managed to build up my current portfolio size, especially when I often say I have always had a relatively low active income.  More questions actually popped up after I wrote the post where I decide to liquidate my US Growth Portfolio to pay off my mortgage in Malaysia.  To be very honest, the journey was not glamorous, nor was it the result of overnight success.  It was a combination of discipline, patience, keeping expenses low, and a few key decisions (and saddening privileges) along the way.  This post is written with much emotions, as it openly shares my entire financial journey along the way, filled with ups and downs, and scars in life.  Please be kind towards my financial mistakes, as I know very well I am far from being perfect. Early Days – Humble Beginnings I started working in 2007 at a Japanese engineering firm with a starting pay of SGD 2,400 per month.  It was not much, but it was the reality of ...

This month marks the end of the 3rd quarter of 2025.  Thus it's definitely a good time for me to record the performance of my portfolio to track how it has been. To recap, I started my SG Dividends Portfolio in late 2017, and I began tracking the dividends and all reinvestment done starting 2018.  To date, my SG Dividends Portfolio consist of banks, REITs and defense technology.  On the other hand, I only started the US Growth Portfolio in late December 2021.  Currently, my US Growth Portfolio has been completely liquidated to pay off my mortgage loan, and moving forward, my portfolio will be 100% Singapore centric. The most important event that happened this month is definitely the FED meeting and the speech by Jerome Powell on 17th September 2025.  As expected, the FED finally announced an interest rate cut by 25 basis point.  This long awaited event has finally materialize and I believe this bring cheers to many REITs investors like myself.  Movin...

I recently came across the phrase “ride the bubble”, and looking at the markets today, it feels very true, especially in the US markets where indexes just hit new time highs after highs.  Prices often move not just because of fundamentals, sometimes, just because of sheer momentum.  Bubbles seemingly form when investors chase higher and higher valuations, and those who dare to ride them can make outsized gains.  To me, as someone who knows little about valuations, there is a blur boundary between chasing the bubble or chasing the momentum.  But often, bubbles are formed when momentum runs are stretched, and the point in time when one exits the market differentiates momentum chasers from bubble riders. For me though, I believe I am more of a momentum chaser (if I ever succeed), and less so of a bubble rider.  This is because it has always been a struggle for me to ride through the momentum and I will often panic when the prices rocket exponentially instead of en...

This will be a relatively short post, just to update on the transactions for the month. For the month of August, it was a jittery month.  For a large part of the month, the markets were anticipating the FED to cut interest rates in September, and the probability of it materializing was near 100%.  However, markets were thrown with a set of much hotter than expected PPI numbers, which meant that the tariffs-linked inflation is creeping in.   However, even with such unfavourable news, the US market decided to largely ignore it, and continue with its slow and steady uptrend.  It seems cautiously optimistic, but at the same time, the jitters and uneasiness may mean that cracks are happening beneath the rise. I do not really know what to make out of the numbers, as all these reports and numbers were out of my control.  I can only do what I could, which is to remain invested and hope for the best.  My US Portfolio, although small in percentage terms, remain...

Over the past year, Singapore Technologies Engineering (STE) has had an incredible run.  Compared to just 12 months ago, the share price has risen by almost 100%.  That is a significant rally, especially for a traditionally defensive counter like this.  While I am glad to see one of my core dividend holdings performing so well, the sharp price appreciation has also changed the dynamics of the stock, particularly the yield, which has now been compressed to below 2.5%.  That is a little too low for my liking, especially considering my dividend investing goals. STE has benefited from several positive tailwinds over the past year.  Its aerospace division recovered strongly with global air travel rebounding, and its defense and smart city solutions continued to see robust demand.  The company also announced multiple new contract wins, both locally and globally, which boosted investor confidence.  More importantly, to dividend investors like myself, STE int...

Earlier this year, I made two new additions to my dividend portfolio, namely Riverstone and Kimly, as part of my ongoing effort to diversify my income stream with consistent dividend payers.  Recently, I am adding a new name to that list: HRNet Group (SGX: CHZ). This decision came after careful thought, and more importantly, as a tactical reallocation of funds.  I recently did a partial divestment of Singapore Technologies Engineering (STE), a strong blue-chip stock that I still like and hold.  However, with its share price shooting up significantly this year, the allocation based on market value to STE is growing too large for my comfort, and the dividend yield has already compressed to below 2.4% at one point, which no longer justifies a full position for someone like me who prioritizes dividend yield as part of my Barista FIRE journey. Why I Sold Part of STE I did not sell out of STE completely.  It remains a core holding in my portfolio, and still the largest ...

3rd July 2025 marks a historic moment for Singapore’s stock market.  The Straits Times Index (STI) has finally broken past its long-standing ceiling and closed at a new all-time high of 4019.57 points.  For years, the STI has lagged behind other global indices, frequently described as "boring", "defensive", or "undervalued", often trapped between 3000 and 3400.  Some others even nicknamed it the "Super Terrible Index".  However now, after what feels like a long, frustrating wait, I have finally witnessed a psychological and technical breakthrough and it feels both exciting and oddly sobering. As someone who has been building a dividend-oriented portfolio in Singapore for years, this moment is more than just a number.  It feels like validation, a recognition that Singapore-listed companies are not stagnant, and that patience can eventually be rewarded.  It is a reminder that value and yield still matter in the long run.  I have been collecting di...

If you are a dividend investor in Singapore working towards Financial Independence, Retire Early (FIRE), you are likely already focused on building a passive income stream that can cover your expenses without the need to rely on active employment.  However, generating consistent dividends is not just about stock selection, it is also about how you allocate your capital across different individual stocks. Many retail investors, including myself in the past, overlooked this crucial piece of the puzzle, only to find themselves overly exposed to risk or receiving unpredictable income streams during market downturns.  In this post, I will share my perspectives on why individual stock allocation matters, how it affects your sustainability in FIRE, and what a prudent allocation strategy might look like.  Do note that the following are not absolute.  Individual investor can further fine-tune the numbers to suit your personal risk appetite.   Of course, this will b...

This month, I added 2 companies into my SG Dividend Portfolio, namely Kimly and Riverstone.  In this post, I will document my reasons for choosing these 2 specific stocks and some of the pros and cons of owning their shares.  Currently it is just a small addition, and they only take up less than 1% allocation in my overall portfolio.  However do note that this is not financial advice.  I am not recommending anyone to buy or sell these shares.  All that is written below is for my personal perusal and a record of my investing journey.  If any of the numbers provided below are wrongly stated, I would like to apologize in advance and kindly highlight to me to do the necessary amendment. Why I Decided to Buy Kimly Shares Kimly is a Singapore-based Food & Beverage (F&B) operator, and one of the largest traditional coffee shop operators in Singapore.  Its business is divided into Coffee Shop (Outlet Management), Food Retail (e.g. food courts, mixed ri...