Saturday, March 11, 2023

Net Worth Update Mar 2023

 

S$1.403m


My net worth inches up slightly to $1.403m in March 2023.

The increase in net worth from CPF contributions and savings from salary is offset by correction of stocks and Reits prices in my portfolio.

My CPF forms the bulk 38% of my wealth. Having achieved full retirement sum in CPF SA and topped up my Medisave account to the basic healthcare sum of $68.5k early this year, 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 22% 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 already completed the top up of $15.3k annual quota for 2023. I plan to use the SRS funds to add on to my investment in local banks i.e. OCBC amidst fear and uncertainty in bank stocks currently and in the coming weeks. Otherwise, I would deploy the idle SRS funds into 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 (22%)/SRS equities (8%) ratio is around 63-30, 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 an annual 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!

Thanks for reading. Stay focused and remain steadfast as always!

With love & peace,
Qiongster

2 comments:

Micgohch said...

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Just curious, is it typo? 22k annually only?

Qiongster said...

It is correct. Passive income not active income.