My net worth stagnates at S$1.5m for Nov 2023.
I have been saving frugally, reducing expenses and conserving capital for purchase of Singapore Savings Bonds since I return from Seoul holiday trip.
CPF is the bulk 37% of my net worth. I have already achieved full retirement sum in CPF SA and topped up my Medisave account to the basic healthcare sum of $68.5k early this year.
Cash and war chest constitute 18% of my wealth. In the current high rate environment, my cash is being stashed away in bank fixed deposits yielding more than 3% p.a., 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.
Together with 9% of my risk-free Singapore Savings Bonds ($130k) and relatively low-risk Astrea 7A PE bond ($9k), CPF, cash and war chest amount to 64% of my net worth as safe assets. I intend to subscribe to the coming Dec 23 tranche of SSB with average yield of 3.4%.
Stocks and Reits constitute 22% of my net worth. Together with SRS account which forms 8% and are deployed mainly into local stocks and Reits, they are the 30% of riskier assets in my financial portfolio.
Slow but steady, I remain on track towards the path of financial freedom. Ignore the noises. Be greedy when others are fearful. Be fearful when others are greedy. Be contented when others are hungry.
Thank you for reading. Stay focused and remain steadfast as always!
2 comments:
Your NW grew and i think it is understated. Cos you didnt update your HDB equity yet continue paying your loan. So probably grew but cannot see. Continue and you will see your NW grow even more ! Well done
My HDB equity is the downpayment amount for BTO flat which is still being built. No loan for my HDB. Will pay up fully using CPF or cash upon collection of keys. The understate of my NW is from SRS which is accounted based on the funds I deposited and not the market value. This understate offset some overstate in the insurance surrender values. I think is fair.
Thank you for reading my blog. All the best to your financial journey too!
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