This monthly report excludes any salaried income. The purpose of this financial review is to assess the sustainability of my financial independence, focusing solely on the total amount of passive income received. As of 2024 September 1st, I have officially activated my FIRE journey, meaning I am no longer receiving a salary from a traditional job.
The time has come for my next milestone.
For what? Hmmm… something that’s been on my mind for the past two years. It won’t be easy, but I’m still going to try.
August was a harvesting month.
Dividend income received a big bump, coming in at $7,186.98. Most of it came from the bank stocks, which were all, well… performing. For now, anyway.
Combined with the rest of the income, that brought the total to almost $10k for the month of August.
The stability of rental income certainly helps. But that small increase also meant we started showing up on the income tax radar. I managed to offset the additional taxable income with a fixed relief, but it’s becoming clear that this formula is starting to hit its limit.
Some may wonder: why does it matter?
Because the system here determines which income tier you fall into. And that tier quietly determines a whole range of things — the reliefs, benefits, and subsidies you may or may not receive.
Apparently, the more you earn, the fewer benefits you get from the system.
Sound mechanical?
Well… why wouldn’t it?
That’s how this country works.
