S$1.455m
My net worth receives a $52k or 3.7% boost to $1.455m in April 2023. This is another all time high!
The huge boost is due to collection of performance bonuses, salary increments, CPF contributions, dividends in the past weeks, coupled with a strong recovery of Reits and stocks in my investment portfolios.
My CPF still forms more than one-third bulk of my wealth. Having already achieved full retirement sum in CPF SA and topped up my Medisave account to the basic healthcare sum of $68.5k early this year, I have also topped up $8k into my mum's CPF Retirement account for the 5 reasons.
My stocks and Reits constitute 22% of my net worth. I intend to slowly add high quality S-Reits or local bank stocks to my SGX income portfolio when the opportunity arises. I will not increase exposure to US or HK growth stocks but just dabble with options to collect premiums.
In today's high interest, inflationary monetary environment, my cash and war chest remains at 20% of my net worth, mainly being stashed away in bank fixed deposits yielding more than 3% p.a., in Fullerton cash funds under custody of Moomoo and Tiger Broker, and in Money Market Funds held by Phillips Capital yielding around 3.5% p.a. with interest paid daily.
SRS forms 8% of my wealth and I have already completed the top up of $15.3k annual quota for 2023. I have deployed the new SRS funds to increase my investment in OCBC amidst fear and uncertainty in bank stocks last month after the collapse of several US banks.
7% of my net worth is in risk-free Singapore Savings Bonds ($90k) and relatively low-risk Astrea 7A PE bond ($9k). I plan to continue subscribing to Singapore Savings Bonds for the rest of the year if they yield above 3% for the next decade. Ultimately, I hope to max out SSB individual limit of $200k by end of this year.
I am building a well balanced portfolio for my financial assets conservatively. My asset allocation of low-risk assets is 64%:
a. CPF (37%)
b. Cash (20%)
c. Risk-free bonds (7%)
relative to higher-risk assets at 30%
d. Equities (22%)
e. SRS (deployed largely into equities) (8%)
This provides a huge defensive safety net but the opportunity cost is that my net worth will not grow as fast and furious but slow and steadily.
My target net worth by the end of 2023 of at least S$1.45m is already hit so now I target for S$1.5m with an annual passive income of S$22k.
Life is exciting in a post pandemic world. Ignore the noises. Remain on track. Be greedy when others are fearful. Be hungry when others are contented. Live everyday to the maximum! En route to financial freedom!
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