Mini milestones review (Mid 2018)

Since it is now mid of the year, 笨mummy feels that it is a great time to review the four mini milestones she set for herself in her journey to FIRE and check whether she is on track to her FIRE. 

1. Clear mortgage of her 4-room HBD flat (this is her only debt) 

笨mummy is left with S$235K on her mortgage loan with OCBC at an interest of 1.30% p.a. which would be adjusted up to 1.60% p.a. in few months time. She and her hubby has managed to accumulate cash that is sufficient to pay off the mortgage which is keep in multiple high interest rate saving accounts like DBS Multiplier, UOB One account and OCBC 360 account. 

2. CPF Special account to reach minimum sum of S$161K to cater for retirement 

Her CPF special Account has increased by $10K from end of last year to reach $120K. This is due to 笨mummy rejoining the workforce and her employer started to make contribution to her SA account as well as the CPF interest from last year. 

3. Having enough passive income (from dividend, interest, etc) that is sufficient to cover HER recurring expenses
Based on the latest update, the dividend income received as at June 2018 from her  investment is $7.6K and 笨mummy believes that she is on track to achieve a passive income that would cover her recurring expenses of $784 per month.  

4. Having enough passive income (from dividend, interest, etc) to cover the household expenses
This is still a long WIP for 笨mummy as the current expenses are higher as both children are enrolled in childcare and with the diapers and formula milk that child 1 and child 2 need.The current dividend income only managed to cover her recurring expenses with very little surplus.