In Aug 2024, my net worth increases by $7k to S$1.674m attaining another record high thanks to the recent CPF contributions, salary savings, dividends and recovery of S-Reits in my investments.
Net Worth Breakdown:
Safe Heavens (63%)
CPF (37%): Huge shoutout to my CPF for making a significant portion of my wealth. Attaining Full Retirement Sum FRS in 2022 was a great accomplishment.
Cash and war chest (15%): My cash is strategically stashed in fixed deposits and Fullerton cash funds earning over 3% p.a.
Bonds (11%): A mix of Singapore Savings Bonds and Astrea bond provides stability. I have maxed out my SSB individual limit of $20k this month.
Retirement Savings (13%)
SRS (8%): I have already contributed $15.3k for 2024, adding another layer to my retirement savings plan. My SRS funds are deployed into 6 local stocks - Comfortdelgro, DBS, OCBC, Keppel DC Reit, Keppel Reit and Wilmar.
Insurance (5%): I also own Prudential Pru-life multiplier whole life insurance plan and other savings plans which in total, could provide me with 6-digit lump sum payout after my retirement age.
Income and Growth Assets (23%)
Stocks and Reits (24%): This portion of my portfolio caters for generation of passive cashflows and potential growth, with a focus on long-term compounding growth through dividend investing.
Achieving another net worth milestone is a testament to the power of consistent saving, disciplined investing, compounding growth and strategic financial planning. By diversifying across safe havens, retirement savings, and growth assets, I am trying to build a robust financial foundation. The ongoing contributions to CPF, coupled with the strong performance of my investments, have been key drivers of this growth.
As I look ahead, I remain committed to my long-term financial freedom aspiration and will continue to focus on maximizing returns while managing risks. With a clear roadmap and unwavering discipline, I am confident in reaching the new S$1.7 million target by year-end.
Thank you for reading!
2 comments:
If you have max out the SSB of $200K, then your Bond total amount should exceed $200K. Maybe you want to take a look in the chart. Very impressive portfolio at your age and well diversified.
Hi Killies A, thanks for the comments. To clarify, $170k of SSB is in Cash, $30k accounted for under SRS.
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