From Singapore Department of Statistics, among each resident household, median monthly income from work grew 6.1% from $9,520 to $10,099 in 2022. Household income from work includes employer CPF contributions, which means excluding CPF the take-home income is 10099/1.17 = $8,632
Tabulating my Investment Income for 1H 2023, this works out to be $70,047 total or $11,675 per month. Contentment is great gain, and not being in the work rat-race has its pros and cons of course 😎
I am thankful for this $70k 1H'23 result, which is higher than my inial target at the start of this new year. With the 2H'23 ahead, it might be challenging to duplicate this same result as many companies have paid out the bulk of their annual dividends
Have also been slowly sharing and educating my children on some financial stuff, as they are beginning to grow and influenced by their peers. Since many money habits are caught from home, rather than taught in schools, it is important to inculcate the right financial values from young. Financial Stewardship starts from small amounts which are easily scalable by simple multiplication factors as bigger monies stream in.
Do you have good ideas on how to teach your kids? Let me know in the comments below, thanks! 😅
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