Happy 2025 and a new road ahead

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Happy 2025 to everyone who may read the post now or in the future. This is the first blog I have which I find mean and purpose in.

2024 was not a happy year for me. From a regular check up, the scan found a 5.1cm nodule which turned out to be a thyroid cancer. It was a stage 1 thyroid cancer whereby I underwent a surgery and radioactive iodine treatment. All my cancer cells were successfully removed. What is left would be regular clinic visits and blood tests.

With the help of my insurance agent, I was able to make full claim on my early critical illness payouts. It is a nice amount of money even through it is not going to make me rich to retire for good. It was early Dec 2024 when I received the payouts after much questions from the underwriters but I got it. My thyroid cancer was stage 1 so I am healthy to go back to the workforce almost immediately.

I sat on the money and started to look at ways I could spend the money. It was tempting and because of all the commitments I have, virtually I do not have a lot of saving. This is a wonderful windfall. I could get a car with the COE fully covered. I could go without work for at least 3 years if I want to. I went online to search what people are doing with their critical illness payout. I was disappointed to learn that out in the internet, there were only advertisements to encourage people to buy critical illness insurance components.

I wondered aloud, instead of spending the critical illness payout on the unnecessary, can I use the money to create passive incomes and eventually have an earlier retirement (before the current 63 years old) and to use the time for more productive activities.

With this, I decided to take things by horn. Without a clear guide, I want to explore and share my experience (not financial advice) of using my critical illness payout as a jumping board to start an investment journey with the aim to generate enough income to have an earlier retirement and to create a legacy for my family in the future when I passed on to another world.

Being someone who is not well versed in the personal financial investment and the nature of critical illness payout, I will not go into individual high risk shares. I will more likely to invest in ETF, structured funds, and dividend shares. My aim is to have monthly or quarterly payouts wherever possible.

As I am still currently employed, as much as possible, I would like to reinvest the passive income received to increase my capital and from time to time and to increase the investment capital by using my own personal income to supplement the investment.

My personal investment goals are as follow:

  1. To increase personal networth to $1 million Singapore dollars by age 63.
  2. To have passive income of $7,000 by age 63.
  3. To have meaningful engagement with people who received critical illness payouts and encourage them to invest in a way to create meaningful future for themselves and their family.

That is all for the moment. See everyone in the next post.

P.s. Not a financial advice. Please treat this as the rambling of an middle age uncle.

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