Another quarter has gone by and it is time for another update.
For a change, I will reveal the numbers first.
3Q 2024 passive income:
$85.223.17
This is a slight reduction, year on year, as 3Q 2023 passive income was:
$85,307.78
Almost negligible difference but it is still a dip.
The reason for this is the much lower contribution from Sabana REIT which I drastically reduced exposure to.
The REIT was one of my largest investments but this is no longer so.
Losing one of my largest investments is bound to have a big impact on my passive income.
However, as the title of the blog suggests, thanks to higher dividends received from my investments in the banks, the impact is mitigated.
The money from the sale of Sabana REIT was used to strengthen my T-bill ladder which is, of course, my war chest.
I am in no hurry to deploy the money since I am already substantially invested in the stock market.
Looking at the investments which contributed the most to my passive income in 3Q 2024:
1. OCBC
2. DBS
3. UOB
No surprises here since OCBC is my largest investment at almost the same size as my investments in DBS and UOB combined.
DBS is going to generate more passive income for me because of the bonus issue which in effect gives a 10% uplift to dividends received.
UOB is, well, UOB.
Conservative and plodding along but still more than decent enough return.
In a recent video, I said I would not be adding to my investments in the banks as their share prices hit all time highs.
I would wait for a pull back in prices before adding.
To be fair, at 1.2x or 1.3x book value or so, the common stock of OCBC and UOB do not look expensive.
So, if I were not invested in the local banks yet, those would be where