S$1.58m
My net worth grows to S$1.58m in Jan 2024.
The boost is from CPF interests for 2023, CPF contributions from Dec 23 salary and annual wage supplement and savings from Jan 24 salary.
CPF forms the bulk 37% of my net worth. I have already achieved full retirement sum (FRS) in CPF SA and intend to top up my Medisave account to the basic healthcare sum (BHS) of $71.5k next week for some tax relief.
Cash and war chest constitute 18% of my wealth. In the current high rate 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 more than 3.5% p.a. with interest paid daily.
Singapore Savings Bonds ($140k) and Astrea 7A PE bond ($9k) are low-risk bonds contributing to 10% of my wealth. Together with CPF, cash and war chest, they amount to 65% of my net worth as safe assets. I will skip the coming Feb 24 tranche of SSB with average yield of 2.81%.
Stocks and Reits constitute 22% of my net worth. Together with SRS account which forms 7% and is deployed mainly into local stocks and Reits, they are the 29% of riskier assets in my financial portfolio.
I expect my net worth to continue increase slowly and steadily in this new year. My target by 31 Dec 2024 will be S$1.65m.
I hope to remain on track towards the path of financial freedom. Ignore the noises. 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!
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