Net Worth Update Nov 2024 | Stagnant at SGD 1.72m

My net worth stagnates at S$1.72 million in November 2024 despite savings from salary, CPF contributions and dividends collected. The gains in S-Reits over the past weeks have been wiped out by the inflationary fears and sustained high interest rate environment arising from Donald Trump's success at the US presidential election

Net Worth Breakdown:

Safe Heavens (62%)

CPF (36%): As the major constituent of my wealth, it is the foundation of my retirement savings. Attaining Full Retirement Sum FRS in 2022 was a significant milestone.

Cash and war chest (16%): My liquid assets are strategically invested in fixed deposits and Fullerton cash funds, earning around 2.8% 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%): This provides an additional layer of retirement savings. Annual individual limit of $15.3k is maxed out.. My SRS funds are currently 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 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 (24%)

Stocks and Reits (24%): These riskier financial assets are volatile but generates passive income and caters for potential growth, with a focus on long-term compounding growth through dividend investing.

A Balanced Ascent: The Art of Financial Wellness

The pursuit of this financial journey is like a long winding hike. It is a steady climb, filled with challenges and rewards. Just like a hiker, I had to navigate steep inclines, traverse rocky terrains, and endure occasional storms. These challenges have included market volatility, unexpected expenses, and the constant temptation of instant gratification. Yet, with each step, I have grown stronger, more resilient, and more determined.

While reaching the summit of financial freedom is the ultimate goal, it is equally important to appreciate the journey. Just as a seasoned hiker pausing to admire the scenary, breathe in the fresh air, so too should I take time to savour the progress. In the same way, taking a step back from relentless financial pursuit can provide much-needed respite and rejuvenation. I have decided to slow down my pace towards financial freedom by spending more on experiences and bucket list items that could enhance my quality of life and overall happiness.

Ultimately, financial success is not solely about accumulating wealth and growing net worth. It is about achieving a state of financial wellness. By striking a balance between ambition and enjoyment, we can build a life that is both prosperous and fulfilling.

Thank you for reading!

With love & peace,

Qiongster