I have informed the bank that I will pay up in full when my HDB loan reaches the end of its lock-in period end this year. While previously they took only a short time to approve my loan, I have to inform them 3 months in advance.
This is a milestone target for me in 2014. My outstanding HDB housing loan will dip below $100K, making it impossible for further re-financing with the bank.
I am planning to pay off the remaining HDB loan by the combination of the followings:
1. Matured endowment policy
- 21-years ago when I started this endowment policy, it looked like a substantial sum of money at maturity.
However, possibly due to inflation or perception changes, it doesn't feel like a windfall now. Haha.
2. Central Provident Fund (CPF)
- I will put some of this money into good use. After all, I dutifully contribute money to this fund every month.
3. Investment-linked Policy (ILP)
Timing, timing, timing. At the last market crash, my ILP dropped 40-50%. Now, it is up 40+% its original value.
4. Housing loan "pay-up fund"
- I have started this fund after the last re-financing, contributing a fixed sum every month into it. As the total of 1 to 3 already sufficiently covered my loan, I will inject this fund into my war chest.
Not only that I will achieve my goal to be debt-free end 2014, I also have a bigger war chest for investment.
Saturday, 6 September 2014
Tuesday, 2 September 2014
|No.||Stock Name||Lots||Portfolio%||Avg Cost$||Breakeven$||Market$|
|AIMS AMPI Reit|
Dividends collected in Aug: $1,343.70
2014 avg dividends/month: $497.72
Bumper dividend harvest in August. August has my 2nd highest amount of dividends collected so far.