Saturday, February 17, 2024

Net Worth Update Feb 2024



My net worth increases to S$1.587m in Feb 2024.

This is after CPF contributions from Jan 24 salary and savings from Feb 24 salary.

CPF forms the bulk 37% of my net worth. I have already achieved full retirement sum (FRS) in CPF SA and has completed $8k top up to my mum CPF Retirement Account for some tax relief.

Cash and war chest constitute 17% 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 more than 3.5% p.a. with interest paid daily.

Singapore Savings Bonds ($140k) and Astrea 7A PE bond ($9k) are low-risk bonds contributing to 10% of my wealth. Together with CPF, cash and war chest, they amount to 64% of my net worth as safe assets. I will skip the coming Mar 24 tranche of SSB with average yield of 2.88%.

Stocks and Reits constitute 22% of my net worth. In recent weeks, I have contributed $7.5k to my SRS account which forms 8% of my wealth. My SRS funds are mostly deployed into local stocks and Reits. They are the 30% of riskier assets in my financial portfolio.

I hope to remain steadfast on the track towards 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. Huat ah!

With love & peace,

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