With the recent turmoil in the stock market, my portfolio value was wiped out a whopping $50k. This is the main cause of my plummeting net worth.
Sad or not? I would be lying if I say no. I tried to be a stoic and I realise that there is no difference to my lifestyle even though I am technically much "poorer" compared to last month. Net worth and money are just numbers afterall. As long as we have sufficient cash and credit to pay for food, daily necessities, life goes on even with the coronavirus that caused so much panic and countries to lockdown.
I have contributed $4.3k to my SRS account and will top up the remaining $11k as soon as I receive my pending bonus. I have added SATS to my SRS portfolio too early this month and intend to capture some OCBC soon. The share prices of both these good companies have been battered recently so I am happy to enjoy discounts presented by the market. It is however possible that their share prices will still continue to slide down. My belief is to continue building a long term income portfolio in SRS by steadily adding on to shares of solid companies that I believe will still exist when I can cash out my SRS account in 30 years time.
To add insult to misery, I was looking forward to a nice retreat in Bangkok after grinding 3 months of work in 2020. I thought it is time to finally wind down, chillax, eat, and rest. However due to the enforcement of 14 days stay at home notice for returning from ASEAN countries by the Singapore government, I have no choice but to cancel this holiday trip.
Stay tuned for my Q1 2020 passive income report soon. Thanks for reading!
With Love & Peace,
Qiongster
3 comments:
Me same boat. Paper loss 50k as of now. Bite the bullet and hold ;-[]
Main loss from etf, lauded as instruments of moderate risks. Oh well, that's life. Not blaming anyone. :-)
Hey both, that's life indeed. :-)
For me, it's not much of the absolute dollar losses I'm sitting on, but how the emotions tries to take control. As you've said, the lifestyle hasn't changed much. And that by itself is already a blessing, compared to those who are over-leveraged and hit by margin calls.
Tough, of course, to see our holdings fall (I'm at -25% after the especially crazy S-REITS sell-off today). But we just ride it through and hope for the best. It's a cycle, and it always has been.
Same here my net worth is also decreased to $1000 and I am very sad about this. If you have any suggestion please tell me. Thanks :)
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