Sunday 11 April 2021

How my $700 per month will fare in 10 years

Welcome back to another episode of SingaporeanTalksMoney. Releasing a short video this week on my regular savings plan (ETFs) with FSMone. So as mentioned in many of my previous videos, I have talked about how I am allocating a portion of my money into FSMone RSP and buying into Vanguard Total World Stock Index Fund ETF (VT) and Ark Fintech Innovation ETF (ARKF).

RSP amount and current portfolio

$700 is not much to shout about and I hope to definitely increase the amount in the future depending on my main income. What I want to illustrate or talk about today is how this $700 will fare in the long run. Per previous Q1 2021 portfolio update, my current portfolio is at about $40,000 and cryptocurrency portfolio at about USD$4000.

I currently buy $500 worth of VT and $200 of ARKF monthly. VT I have been buying it monthly since early 2020 which means I managed to buy some units during the pandemic where it was as low as $69 however I bought in a small amount but growth of VT has been exceptional. $700 per month would mean an amount of $8400 invested annually into the RSP. Using a compounding calculator, let's see what my portfolio will look like in 10 years when I am 36 years old.

Compounding Calculator

So with a starting balance of $40,000 (my current stocks portfolio), interest rate/annual growth of a modest 5%, monthly additions of $700 and a 10 year period, my future portfolio value will look to be $173,650.22

Amount put in: $84,000

Interest/growth: $49,650.22

Current value: $40,000



So from the table you can see my starting balance of $40,000 and $8400 deposit for the first year where I will earn an interest of $2225.80 which is then added to my balance and compounded for the next year again and this whole compounding effects follow throughout the 10 years. Hence the interests increases over time as it is added to the balance and grows with it.

Deposits remains constant at $8400 but the interests increases in value.

Quote of the day:

"Compound interest is the eighth wonder of the world because: The real route to riches is to set aside a portion of your money and invest it, so that it compounds over many years. That’s how you will become wealthy while you sleep. That’s how you will make money your slave instead of being a slave to money."

  • Tony Robbins from his book Unshakeable: Your Guide to Financial Freedom:

Of course, this is assuming that on the 10th year, the market is good. It will not be a linear growth all the way and definitely a journey of ups and downs. But seeing these numbers really give me some form of motivation and encouragement to continue on my financial journey. I have started investing for about 3 years now and my growth has been slow so for me to know that something I am doing currently can grow to something larger really keeps me going.

This definitely also has to mean that both VT and ARKF has to perform at least 5% growth annually compounded for me to reach this amount. Past performance does not mean future growth so what I present in this video is definitely just for an overview and we can see in 10 years if it really hits it. In the meantime, I will need to work and ensure that I have employment to fund this. Hope you guys enjoy this simple and short video this week and let me know of any video ideas or feedback you have in the comments below!

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