Meeting with my financial planner friend

Today I have a great catch up with my financial planner, he is my first 3 months SAJC friend. He is a great guy who advocates DIY insurance, conduct holistic wealth planning and never did push sales. He provides a good blueprint on how to achieve financial freedom through protection and wealth accumulation through investment.

In fact, he attended both VIC and OMP courses and explained to me the pros and cons of options investment and trading. He shared how his profit of USD 15k was wiped out due to greed because of constant winning streaks. Then he devised a proper system like a checklist before executing his trade. He asked whether I have this checklist system in place:

1. Do your fundamental analysis on the company
2. Do your technical analysis on the company
3. If it passes both then execute on the trading platform
4. Do your portfolio positioning

After that, he shared with me his ambition of having multiple streams of income. Well, birds of same feather flock together. I asked whether we should be like Ken Teng having at least USD 900k in options. Trading options is still considered active income. His response is he wants to accumulate assets and generate cashflow without him doing anything. That is passive income. His strategy is:

1. $3k rental income (he shared a rental property among his family members) 
2. $40k dividend income (he aims to have S$1m of Singapore stocks) which is present value of $1k/mth
3. $1k/mth from options income
4. income from CPF Life

I will start working on CPF strategy by shifting from OA to SA. It is good to meet like-minded friends! We need to encourage each other in this journey towards financial freedom.