Its the new year of the Rat and right from the beginning we have the situation of the coronavirus that started in the city of Wuhan, few days later news broke that NBA HOFer Kobe Bryant has died in a helicopter crash. Till now it is still very unreal and overall it feels like a bad way to start the lunar year altogether, told my wife that we should look out a little bit more. Just yesterday while crossing the road, I was almost ran over by a taxi who didnt check the blind spot.
These are signs of a bad year, and although I am not one who makes decision based on myths and superstitions, it would be a wise move to be extra careful of things.
I am officially 35 last November and I feel the need to set "hard" KPIs in order for myself to achieve certain financial goals. Did some rough planning and noted that i would require doubling my current income in order to achieve my ideal state of FAT FIRE. Assuming the other 100% income comes from investment returns, then at least I will have the option to replace my employment income fully while maintaining current standard of living.
Goals:
1) achieve 200k income portfolio
2) set aside 1 year emergency funds (done)
3) research and start on growth portfolio (in progress)
4) kick start business, prototyping of our first products and sale by June 2020!
A reminder to myself to manage the risks as the markets have been on a bull run for such a extended period of time, dry powder will definitely be needed once the correction comes and looking at the macros (trade war, oil game, WH-virus) there is likely situations to get in.
Am considering divesting CRCT due to its 100% exposure in China and since it has ran up significantly. An alternative strategy would be to amass cash to average down once it happens.
Good luck to me, today I was reminded to live life to the fullest yet again.
