The first $100k is the hardest to accumulate.
I can attest to it.
I took more than 27 years to accumulate my first $100k of wealth.
However I merely took the past 4 months to accumulate $100k of wealth!?
My net worth hits another all-time high of $1.26m.
It was $1.16m in Dec 2021 just 4 months ago.
I think the significant increase was because CPF interests, performance bonuses, dividends from SGX income portfolio and rebound of the stock markets are aligned in the the 1st Quarter of the year to bump up the paper value of my net worth.
I have completed the Retirement Sum Top-Up of $8k to my CPF Special Account and $15.3k contribution to my Supplementary Retirement Sum Account this year.
I have attained CPF Full Retirement Sum with Special Account surpassing $192k early this month. How I achieved this feat by mid 30s was also shared.
I intend to top up the Retirement Account of my mum with $8k over the next 2 months for tax relief.
In the US stock market, I plan to slowly increase my investments in growth businesses such as Alphabet Inc., Microsoft, Citigroup and perhaps even initiate a position in Amazon Inc., hoping to get on the boat before its looming stock split in Jun 2022.
On the local SGX front, I am on the lookout for the likes of high quality Frasers and Mapletree Reits to hit my target shopping prices before I add.
As my priorities are on the US and SG stock markets, I do not have plan to catch the undervalued Chinese or HK stocks. However, if I do have spare cash, I would not mind nibbling some Alibaba, Tencent or Meituan for accumulation.
The coming months in this year 2022 remain challenging and taxing financially, mentally and physically. Immense inflation and higher interest rates have caused prices of food and necessities to surge. The stock markets are likely to test lower supports, stay volatile and may enter the bear territories. WFH has begun to cease with more number of days to be spent commuting to office for work.
Stay focused. Remain on track. Be clear in our mind and heart. We will get to our goals and dreams eventually.
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