S$1.4m
My net worth rises $20k or 1.4% to $1.4m, another all time high!
The increase is mainly due to recent recovery of REITs in my investments, CPF contributions and savings from Feb 2023 salary.
My CPF forms the bulk 38% of my wealth. I have already achieved full retirement sum in CPF SA and have topped up my Medisave account to the basic healthcare sum of $68.5k last month. I have also topped up $8k into my mum's CPF Retirement account for the 5 reasons.
My stocks and Reits in SGX Income Portfolio forms 23% of my net worth. I intend to continue adding high quality S-Reits while also accumulating low-risk assets such as fixed deposits, short-term government bonds which are yielding more than 4% in today's high interest, inflationary environment.
In terms of US growth tech stocks, I plan to just dabble with options to collect premiums this year. I have no plan to increase exposure to HK or china equities.
SRS forms 8% of my wealth and I have topped up $7.8k till date for this year. I plan to top up the remaining $8k in Mar 23 to max out the annual quota of $15.3k. I may use some of the idle funds in my SRS account to apply for the current tranche of T-bill or SSB.
I am still stashing away cash in Fullerton cash funds under custody of Moomoo and Tiger Broker, and in Money Market Funds held by Phillips Capital yielding around 3.5% p.a. with interest paid daily. I will monitor the next few months of Singapore Savings Bonds and may subscribe if they yield above 3% for the next decade. Ultimately, I hope to max out SSB individual limit of $200k by end of this year.
My conservative strategy of building a well balanced portfolio for my financial assets involves hoarding cash to earn decent risk-free interest rates above 4% short-term while waiting for greater opportunities to slowly invest in income-producing assets and growth tech businesses for the long-term.
My asset allocation of low-risk cash (19%)/risk-free bonds (6%)/CPF(38%) to higher-risk equities (23%)/SRS equities (8%) ratio is around 63-31, which provides a rather huge defensive safety net.
My target net worth by the end of 2023 is at least S$1.45m or S$1.5m ideally, with a passive income of S$22k.
Life is exciting in a post pandemic world. Ignore the noises. Remain on track. Be greedy when others are fearful. Be hungry when others are contented. Live everyday to the maximum! En route to financial freedom!
6 comments:
Hi Qiongster,
Thanks for the open sharing.
Would like to ask Why is your HDB equity so low?
Also, Do u include the CPF u used to pay for housing as part of your net worth?
Thanksss
Hi calv, thank you for reading my blog. My HDB equity is low because it is the amount I paid for downpayment of BTO which is still in construction before TOP in 2026. I used my CPF OA for this downpayment and have since made full voluntary housing refund back to OA. My CPF figures are my current balances.
Cheers,
qiongster
Hi Qiongster,
I reckon you are in your 30s (and unmarried?).
A good set of net worth for your age. Jia you!
Hi apenquotes,
That's right. Thank you for reading my blog. All the best to you too!
Cheers,
Qiongster
Congratulations!!🎉 Hope your portfolio will hit $2 mil soon :) Happy Investing & Huat!
Thank you STE! hope to achieve this milestone in 4 yrs.
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