Net Worth Update Sep 2023 | SGD1.5m hit!

       

S$1.5m

My net worth hits my target of 1.5 million SGD for 2023!

This will be a quick update before I jet off to Seoul, South Korea for a getaway.

The increase is due to contributions from salary, CPF savings, dividends, together with rebound of Reits' market prices in my investment portfolios after more certainty in the direction of interest rates.

CPF savings form the bulk 37% of my net worth. I have 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.

Cash and war chest constitute 18% of my net worth. In the current high interest environment, my cash is 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.

Together with 8% of my risk-free Singapore Savings Bonds ($110k) and relatively low-risk Astrea 7A PE bond ($9k), CPF, cash and war chest amount to 63% of my net worth as safe assets. I intend to subscribe to the coming Oct 23 tranche of SSB with average yield of 3.16%.

Stocks and Reits constitute 23% of my net worth. Together with SRS account which forms 8% and are deployed mainly into local stocks and Reits, they are the 32% of riskier assets in my financial portfolio.

Life is exciting in a post pandemic world. Ignore the noises. Remain on track. Be greedy when others are fearful. Be fearful when others are greedy. Be contented when others are hungry. 

Thank you for reading. Stay focused and remain steadfast as always!

With love & peace,

Qiongster