Saturday, May 14, 2022

Net Worth Update May 2022 | Growth Stagnated



It is middle of the May month for another typical net worth update.

Having collected my May 2022 salary, Apr 2022 CPF contributions and some dividends from my SGX income portfolio for this quarter, I paid off all my credit card liabilities and bills.

Being debt free allows me to own a peace of mind to sleep soundly.

The stock markets have crashed due to the immense noises of recession fears, interest rate hikes, commodities prices spike, inflation, pandemic, war etc. and wiped out more than $10k of my net worth.

As a result, my net worth stagnates at $1.26m.

I have completed SRS contribution of $15.3k, RSTU of CPF SA account of $8k and plan to start top up my mum's CPF RA account.

I have transferred a matured fixed deposit with UOB to OCBC at 1.28% p.a. and tempted to subscribe the Jun 2022 tranche of the Singapore Savings Bond which offers around 2.5% p.a. yield for the next 10 years.

I have another fixed deposit with UOB maturing this month and an Great Eastern endowment maturing next month and I may use those proceeds to subscribe for Singapore Savings Bond.

In the US stock market, I continue to increase my investments in growth businesses such as Alphabet Inc., and Palantir, while also monitoring other tech companies such as Microsoft, Amazon Inc. and banks such as Citigroup and Bank of America. 

On the local SGX front, I remain on the lookout for the out-of-favour high quality Frasers and Mapletree Reits and ready to pounce on them to increase my investments for more dividends in future.

As my priorities are on the US and SG stock markets, I do not have plan to catch the falling knives presented by the likes of Chinese ATM (Alibaba, Tencent and Meituan) yet.

I have also witnessed the crash of crypto currencies and experienced a paper loss of a meagre $300 from my exposure to Cronos tokens from staking in I have written off around $500 of my investment in Crypto and excluded them from my net worth computation.

The coming months in this year 2022 remains challenging and predictable. Immense inflation has caused prices of food and necessities to surge. The stock markets stay volatile and could test lower supports into bear territories or could rebound strongly. In this endemic tropical island, we get to live our lives normally and gradually see normalcy returns. Borders with other countries have reopened and the passport waiting time is around 6 weeks. It is now time to regain back the lost freedom for the past 2 years.

Ignore the noises. Stay focused. Remain on track. Be greedy when others are fearful. We will get to our goals and dreams eventually.

Thanks for reading. Stay safe and remain strong always!

With love & peace,

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