Saturday, September 17, 2022

Net Worth Update Sep 2022



My net worth inches up 0.2% to $1.318m from Aug 22.

Another all time high after collecting my Sep 22 salary, Aug 2022 CPF contributions and more dividends from my SGX income portfolio and paying off all my credit card liabilities and bills.

The increase was offset by taking a beating from the tanking of stock prices in my portfolios past few days from red hot inflation and further interest rate hike fears.

I have already completed SRS contribution of $15.3k, $8k RSTU of CPF SA account and $8k RSTU of my mum's CPF RA account for the year, reaping all the low hanging fruits of tax reliefs and guaranteed risk free yields.

Cash is a great performing asset in such high interest rate environment and I have deployed my war chest into Fullerton SGD Cash Fund by Moomoo yielding on average 2.3% and into Money Market Fund by Phillips Capital yielding around 1.5%.

I have also replaced fixed deposits to increase their yields from 1.28% to 2.7%!

Cash is still King!

I plan to subscribe for the next few months of Singapore Savings Bonds, which should hopefully still yield more than 2.5% on average for the next decade.

I am also on the lookout to add high quality S-Reits into my SGX income portfolio.

The remaining months of year 2022 remains challenging and turbulent. Another 2 rounds of 0.75% to 1% interest rate are on the cards of the Fed to curb immense inflation which could have already peaked but the pace of increase could slow down. Global supply chain crunch, high oil prices and the Ukraine war have caused the prices of food and necessities to remain high. Prices of large items such as properties and cars continue to rise despite more costly mortgage loans. 

The stock markets remain volatile and unpredictable but I still believe every dip presents a great buying opportunity to increase our investments in especially high quality income-producing Reits and growth tech stock.

Continue to invest for more passive income. Cashflow is also King! Continue making our monies work harder and own more income producing assets for more cashflow! Own more streams of income besides our salaried job.

Life is great in an endemic world. Ignore the noises. Stay focused. Remain on track. Be greedy when others are fearful. We will get to our goals and dreams. En route to financial freedom!

Thanks for reading. Stay safe and remain strong always!

With love & peace,

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