My net worth soars to a record high of S$1.715m in Sep 2024 fueled by the resurgence of S-Reits investments, CPF contributions, salary savings and dividends collected.
Net Worth Breakdown:
Safe Heavens (63%)
CPF (36%): A cornerstone of my financial strategy, CPF has been instrumental in constituting the foundation of my wealth. Attaining Full Retirement Sum FRS in 2022 was a great accomplishment.
Cash and war chest (15%): My liquid assets are strategically invested in fixed deposits and Fullerton cash funds, earning over 3% p.a. This provides a cushion for unexpected expenses while generating steady returns.
Bonds (11%): A balanced portfolio of low-risk Singapore Savings Bonds and Astrea bond ensures stability. I have maxed out my SSB individual limit of $200k last month, right before the yield of SSB falls below 3%.
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 $30k of SSB and 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 (25%)
Stocks and Reits (25%): This riskier 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.
Imagine reaching a net worth of S$1.7 million before the year end. It is a milestone I never thought I would achieve when I first started investing. 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.
Thank you for reading!
Congrats! Don't forget to reward yourself during the holiday season. I bought myself airtickets for a holiday (there's the 'regular' SQ 'sale' now for 1H2025 tickets, later there'll be another for 2H2025 tickets)
ReplyDeleteThank you Hello World for the suggestion!
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