Net worth reaches a new all-time high of S$1.72 million in October 2024, driven by the rebound of S-Reits, consistent CPF contributions, and disciplined savings habits.
Net Worth Breakdown:
Safe Heavens (62%)
CPF (36%): Forming the bedrock of my retirement savings, attaining Full Retirement Sum FRS in 2022 was a significant achievement.
Cash and war chest (16%): My liquid assets are strategically invested in fixed deposits and Fullerton cash funds, earning around 3% p.a. This provides a cushion for unexpected expenses while generating steady returns.
Bonds (10%): A balanced portfolio of low-risk Singapore Savings Bonds and Astrea Bond ensures stability. I have maxed out my SSB individual limit of $200k in Aug, right before the yield of SSB falls below 3%.
Retirement Savings (13%)
SRS (8%): I have already contributed the annual individual limit of $15.3k, solidifying my retirement savings. 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 a net worth of S$1.7 million before year-end is a testament to the power of consistent financial discipline. Diversification, strategic investing, and compounding growth have been instrumental in building a robust financial foundation. The ongoing contributions to CPF and the strong performance of my investments have been key drivers of this progress. As I continue my journey towards long-term financial freedom, I remain committed to maximizing returns while managing risks.
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