Net Worth Update Aug 2020 - Surpassing $950k

My net worth surpasses $950k for the first time in Aug 2020.

It is another small step towards achieving the millionaire status.

I have depleted my war chest in POEMS Money Market Fund after buying back Mapletree Industrial Trust and Frasers Centrepoint Trust which I sold off in Jul 2020.

I intend to top up $2.5k to renew an expiring fixed deposit at rate of 1.15% for 14 months with UOB. The expiring FD has a rate of 1.6%. I will then be cash poor. The 1.15% p.a interest rate is still higher than the yield of Sep 2020 Singapore Savings Bond at 0.88% average return over 10 years.

This is my living example of being rich as a broke person. Asset rich but cash poor.

It is fine because nowadays I seldom dine in coffeeshops and hawker centres paying cash. I do my shopping in malls and pay groceries in supermarkets using credit cards. There are also rebates by the government to Town Council S&CC and utility bills to lower my spendings.

I am looking forward to receive this bunch of upcoming dividends to restart my war chest rebuilding.

$581.60 Ascendas Reit (27 Aug)
$76.65 Suntec Reit (27 Aug)
$83.76 Ascott Reit (28 Aug)
$334.00 Capcom Trust (28 Aug)
$164.58 Capmall Trust (28 Aug)
$141.91 Keppel Reit (28 Aug) SRS

$101.00 SSB (1 Sep) 

$235.00 ST Engineering (2 Sep) SRS
$327.90 Far East Orchard (4 Sep)
$576.00 Aims Apac Reit (17 Sep)

I have completed all the actions for tax reliefs in 2021- top up $15.3k to SRS, top up $7k to own CPF SA and $7k to parent CPF RA accounts.

In the next few months till end of 2020, I will channel all my savings from active income to the investment portfolio.

My top purchase targets are Aims Apac Reit, Mapletree Logistics Trust and UOB. I will monitor their price movements closely and add them at <$1.18, <$2.08 and <$19.60 after XD respectively.

Reserve targets are CapMall (hint: going to merge with Capcom soon to be the largest S Reit and should see strong recovery), Mapletree Commercial Trust and Mapletree Industrial Trust and Frasers Centrepoint Trust at <$1.85, <$1.90, <$3.10 and <$2.34 respectively. 

I believe the best time to invest is now or never. Ignore all the naysayers and bullshit from news to pick up whatever good assets or businesses we can during a crisis like this. Reits and banks are still preferred.

Stay safe. Be fearless and charge towards freedom. Thanks for reading.

With Love & Peace,
Qiongster